Beasley Broadcast Group Inc Plans Quarterly Dividend of $0.05 (BBGI)
Beasley Broadcast Group Inc (NASDAQ:BBGI) declared a quarterly dividend on Tuesday, December 5th, Wall Street Journal reports. Shareholders of record on Friday, December 29th will be paid a dividend of 0.045 per share on Friday, January 5th. This represents a $0.18 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Thursday, December 28th.
Shares of Beasley Broadcast Group (NASDAQ BBGI) traded up $0.10 during mid-day trading on Tuesday, reaching $11.15. 9,100 shares of the company’s stock were exchanged, compared to its average volume of 27,900. The company has a quick ratio of 3.18, a current ratio of 3.18 and a debt-to-equity ratio of 0.95. Beasley Broadcast Group has a one year low of $5.70 and a one year high of $18.19. The stock has a market capitalization of $318.08, a P/E ratio of 11.51 and a beta of 0.77.
A number of hedge funds have recently modified their holdings of BBGI. Vanguard Group Inc. raised its stake in shares of Beasley Broadcast Group by 7.1% in the 2nd quarter. Vanguard Group Inc. now owns 122,479 shares of the company’s stock valued at $1,200,000 after acquiring an additional 8,146 shares during the period. Northern Trust Corp raised its stake in shares of Beasley Broadcast Group by 302.9% in the 2nd quarter. Northern Trust Corp now owns 56,422 shares of the company’s stock valued at $552,000 after acquiring an additional 42,419 shares during the period. Finally, State Street Corp purchased a new stake in shares of Beasley Broadcast Group in the 2nd quarter valued at approximately $416,000. 14.68% of the stock is currently owned by institutional investors.
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Beasley Broadcast Group, Inc is a radio broadcasting company. The Company’s primary business is operating radio stations throughout the United States. As of December 31, 2016, the Company owned and operated 63 radio stations in various radio markets, Atlanta and Augusta in Georgia; Boston, Massachusetts; Charlotte, North Carolina; Detroit, Michigan; Fayetteville, North Carolina; Fort Myers-Naples, Florida; Las Vegas, Nevada; Middlesex, New Jersey; Monmouth, New Jersey; Morristown, New Jersey; Philadelphia, Pennsylvania; Tampa-Saint Petersburg, Florida; West Palm Beach-Boca Raton, Florida, and Wilmington, Delaware.
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