BuzzFeed (NASDAQ:BZFD) Downgraded by Cowen

Cowen downgraded shares of BuzzFeed (NASDAQ:BZFDGet Rating) to a market perform rating in a research report report published on Monday morning, Stock Target Advisor reports.

A number of other analysts have also recently issued reports on the company. Cowen cut BuzzFeed from an outperform rating to a market perform rating in a research report on Monday. Bank of America cut BuzzFeed from a neutral rating to an underperform rating and decreased their target price for the company from $4.50 to $2.00 in a research report on Thursday, August 11th.

BuzzFeed Stock Down 4.1 %

Shares of NASDAQ BZFD opened at $1.40 on Monday. The stock has a market cap of $189.65 million, a PE ratio of -2.03 and a beta of 1.54. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.51. BuzzFeed has a 52-week low of $1.38 and a 52-week high of $14.77. The business has a 50-day moving average price of $1.73 and a 200 day moving average price of $2.09.

Hedge Funds Weigh In On BuzzFeed

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of BuzzFeed by 64.6% during the 3rd quarter. Vanguard Group Inc. now owns 3,663,840 shares of the company’s stock worth $5,716,000 after buying an additional 1,437,733 shares in the last quarter. BlackRock Inc. purchased a new position in BuzzFeed in the 1st quarter valued at approximately $1,636,000. Millennium Management LLC increased its stake in BuzzFeed by 251.1% in the 2nd quarter. Millennium Management LLC now owns 172,122 shares of the company’s stock valued at $265,000 after purchasing an additional 123,096 shares in the last quarter. Alliancebernstein L.P. increased its stake in BuzzFeed by 42.0% in the 3rd quarter. Alliancebernstein L.P. now owns 159,206 shares of the company’s stock valued at $248,000 after purchasing an additional 47,115 shares in the last quarter. Finally, State Street Corp increased its stake in BuzzFeed by 14.7% in the 3rd quarter. State Street Corp now owns 88,423 shares of the company’s stock valued at $138,000 after purchasing an additional 11,300 shares in the last quarter. 27.63% of the stock is owned by hedge funds and other institutional investors.

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.

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