BuzzFeed (NASDAQ:BZFD) Shares Down 7.9% – Time to Sell?

BuzzFeed, Inc. (NASDAQ:BZFD) shares dropped 7.9% during trading on Monday . The stock traded as low as $2.17 and last traded at $2.20. Approximately 454,642 shares traded hands during trading, a decline of 6% from the average daily volume of 483,057 shares. The stock had previously closed at $2.39.

BuzzFeed Stock Performance

The stock has a market cap of $83.60 million, a PE ratio of -1.52 and a beta of 3.72. The firm has a fifty day moving average price of $2.65 and a 200 day moving average price of $2.87.

Institutional Investors Weigh In On BuzzFeed

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its stake in shares of BuzzFeed by 18.7% during the third quarter. Geode Capital Management LLC now owns 187,598 shares of the company’s stock worth $500,000 after acquiring an additional 29,543 shares during the last quarter. Virtu Financial LLC acquired a new stake in BuzzFeed in the 4th quarter worth approximately $83,000. Renaissance Technologies LLC boosted its stake in BuzzFeed by 359.5% in the 4th quarter. Renaissance Technologies LLC now owns 792,318 shares of the company’s stock worth $2,115,000 after purchasing an additional 619,892 shares in the last quarter. XTX Topco Ltd purchased a new stake in BuzzFeed during the 4th quarter worth approximately $114,000. Finally, Marshall Wace LLP acquired a new position in BuzzFeed during the 4th quarter valued at approximately $597,000. 37.64% of the stock is currently owned by hedge funds and other institutional investors.

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.