BuzzFeed (NASDAQ:BZFD) Downgraded by Cowen to Market Perform

Cowen lowered shares of BuzzFeed (NASDAQ:BZFDGet Rating) from an outperform rating to a market perform rating in a research note issued to investors on Monday, The Fly reports.

A number of other research analysts have also recently commented on the company. Cowen reduced their price objective on BuzzFeed to $3.00 in a research note on Monday, August 15th. Bank of America lowered BuzzFeed from a neutral rating to an underperform rating and dropped their target price for the stock from $4.50 to $2.00 in a research report on Thursday, August 11th.

BuzzFeed Trading Down 4.1 %

Shares of BZFD opened at $1.40 on Monday. The stock’s 50-day moving average is $1.73 and its two-hundred day moving average is $2.09. The stock has a market cap of $189.65 million, a PE ratio of -2.03 and a beta of 1.54. BuzzFeed has a 12 month low of $1.38 and a 12 month high of $14.77. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.66.

Hedge Funds Weigh In On BuzzFeed

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Alliancebernstein L.P. boosted its stake in BuzzFeed by 42.0% in the third quarter. Alliancebernstein L.P. now owns 159,206 shares of the company’s stock valued at $248,000 after acquiring an additional 47,115 shares during the period. State Street Corp boosted its stake in BuzzFeed by 14.7% in the third quarter. State Street Corp now owns 88,423 shares of the company’s stock valued at $138,000 after acquiring an additional 11,300 shares during the period. Vanguard Group Inc. boosted its stake in BuzzFeed by 64.6% in the third quarter. Vanguard Group Inc. now owns 3,663,840 shares of the company’s stock valued at $5,716,000 after acquiring an additional 1,437,733 shares during the period. BBR Partners LLC acquired a new position in shares of BuzzFeed during the third quarter worth approximately $44,000. Finally, Nomura Holdings Inc. acquired a new position in shares of BuzzFeed during the second quarter worth approximately $81,000. 27.63% of the stock is currently owned by institutional investors and hedge funds.

BuzzFeed Company Profile

(Get Rating)

BuzzFeed, Inc, a digital media company, provides breaking news, original reporting, entertainment, and videos across the social web to its global audience. It provides BuzzFeed, a go-to authority for entertainment, pop culture, and Internet with articles, lists, quizzes, videos, and original series; BuzzFeed News, a newsroom for young audience; Tasty, a platform for shareable food content; HuffPost, media platform for news, politics, opinion, entertainment, features, and lifestyle content; and Complex Networks that offers culture content of music, food, style, entertainment, and sports.

Featured Articles

The Fly logo

Receive News & Ratings for BuzzFeed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BuzzFeed and related companies with MarketBeat.com's FREE daily email newsletter.