Patrick J. Kerins Sells 61,448 Shares of BuzzFeed, Inc. (NASDAQ:BZFD) Stock

BuzzFeed, Inc. (NASDAQ:BZFD) major shareholder Patrick J. Kerins sold 61,448 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $2.01, for a total transaction of $123,510.48. Following the transaction, the insider now owns 3,674,745 shares in the company, valued at approximately $7,386,237.45. The trade was a 1.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

BuzzFeed Price Performance

Shares of BZFD stock opened at $2.20 on Friday. The firm has a market cap of $83.60 million, a P/E ratio of -1.52 and a beta of 3.73. BuzzFeed, Inc. has a 1-year low of $1.26 and a 1-year high of $5.68. The firm’s 50-day simple moving average is $2.42 and its 200-day simple moving average is $2.80.

BuzzFeed (NASDAQ:BZFD) last posted its quarterly earnings results on Thursday, March 13th. The company reported ($0.10) EPS for the quarter. BuzzFeed had a negative net margin of 22.51% and a negative return on equity of 33.17%. The business had revenue of $56.20 million during the quarter.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Focus Partners Wealth purchased a new position in BuzzFeed in the fourth quarter valued at approximately $37,000. Bank of America Corp DE raised its holdings in BuzzFeed by 1,615.5% in the fourth quarter. Bank of America Corp DE now owns 14,136 shares of the company’s stock valued at $38,000 after buying an additional 13,312 shares during the period. Oxford Asset Management LLP purchased a new position in BuzzFeed in the fourth quarter valued at approximately $55,000. Graham Capital Management L.P. acquired a new stake in BuzzFeed in the fourth quarter valued at approximately $75,000. Finally, Virtu Financial LLC acquired a new stake in BuzzFeed in the fourth quarter valued at approximately $83,000. Hedge funds and other institutional investors own 37.64% of the company’s stock.

BuzzFeed Company Profile

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.