BuzzFeed, Inc. (NASDAQ:BZFD) Sees Significant Drop in Short Interest

BuzzFeed, Inc. (NASDAQ:BZFD) saw a large drop in short interest during the month of August. As of August 15th, there was short interest totalling 1,570,000 shares, a drop of 5.4% from the July 31st total of 1,660,000 shares. Based on an average daily trading volume, of 949,600 shares, the days-to-cover ratio is currently 1.7 days. Currently, 8.0% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BZFD. Cubist Systematic Strategies LLC acquired a new position in shares of BuzzFeed during the second quarter valued at approximately $37,000. Dimensional Fund Advisors LP acquired a new position in shares of BuzzFeed during the 2nd quarter valued at $53,000. Baader Bank Aktiengesellschaft bought a new stake in shares of BuzzFeed in the 2nd quarter worth $475,000. Monaco Asset Management SAM acquired a new stake in shares of BuzzFeed in the fourth quarter valued at $125,000. Finally, Seven Post Investment Office LP bought a new position in BuzzFeed during the second quarter valued at about $1,881,000. 37.64% of the stock is owned by institutional investors and hedge funds.

BuzzFeed Stock Down 3.1 %

BZFD stock traded down $0.08 during midday trading on Tuesday, reaching $2.51. The company had a trading volume of 151,509 shares, compared to its average volume of 1,320,512. The firm has a market capitalization of $91.89 million, a PE ratio of -1.05 and a beta of 3.36. The stock has a 50 day moving average price of $2.70 and a 200 day moving average price of $2.15. BuzzFeed has a fifty-two week low of $0.64 and a fifty-two week high of $4.56.

BuzzFeed (NASDAQ:BZFD) last issued its earnings results on Monday, August 12th. The company reported ($0.18) earnings per share for the quarter. BuzzFeed had a negative return on equity of 45.51% and a negative net margin of 28.24%. The company had revenue of $46.93 million during the quarter.

About BuzzFeed

BuzzFeed, Inc, a digital media company, distributes content across owned and operated, as well as third-party platforms. The company offers BuzzFeed, a go-to authority for entertainment, pop culture, and Internet with articles, lists, quizzes, videos, and original series; BuzzFeed News, a pocket friendly newsroom; Tasty, a platform for food content; HuffPost, media platform for news, politics, opinion, entertainment, features, and lifestyle content.