Insider Buying: Banzai International, Inc. (NASDAQ:BNZI) Major Shareholder Buys 282,420 Shares of Stock

Banzai International, Inc. (NASDAQ:BNZI) major shareholder Alco Investment Co bought 282,420 shares of the stock in a transaction dated Friday, September 20th. The shares were bought at an average cost of $3.89 per share, with a total value of $1,098,613.80. Following the completion of the purchase, the insider now directly owns 330,340 shares of the company’s stock, valued at approximately $1,285,022.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Banzai International Price Performance

Shares of NASDAQ:BNZI opened at $6.08 on Friday. The business’s 50 day moving average is $0.76 and its 200 day moving average is $0.48. Banzai International, Inc. has a 52-week low of $2.42 and a 52-week high of $828.50.

Banzai International (NASDAQ:BNZI) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.15) EPS for the quarter. The firm had revenue of $1.07 million during the quarter. On average, sell-side analysts forecast that Banzai International, Inc. will post -25.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Ascendiant Capital Markets lowered their price objective on shares of Banzai International from $3.25 to $2.50 and set a “buy” rating for the company in a research report on Thursday, August 29th.

Institutional Investors Weigh In On Banzai International

A hedge fund recently bought a new stake in Banzai International stock. Sandia Investment Management LP acquired a new stake in shares of Banzai International, Inc. (NASDAQ:BNZI) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 41,251 shares of the company’s stock, valued at approximately $25,000. Sandia Investment Management LP owned approximately 0.21% of Banzai International as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 96.82% of the company’s stock.

Banzai International Company Profile

Banzai International, Inc, a marketing technology company, provides data-driven marketing and sales solutions for various businesses in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. Its products include Demio, a browser-based webinar platform with data and marketing features designed to help businesses engage with their audience through live events and on-demand, interactive video content; Boost, a software-as-a-service (SaaS) solution for social sharing by event registrants; and Reach, a SaaS and managed service to increase registration and attendance of marketing events.