Beasley Broadcast Group (BBGI) Upgraded to Strong-Buy by BidaskClub
Beasley Broadcast Group (NASDAQ:BBGI) was upgraded by stock analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report issued on Wednesday.
Shares of Beasley Broadcast Group (NASDAQ BBGI) opened at $13.55 on Wednesday. Beasley Broadcast Group has a 52-week low of $5.70 and a 52-week high of $18.19. The company has a market cap of $404.44, a PE ratio of 6.16 and a beta of 0.77. The company has a debt-to-equity ratio of 0.95, a quick ratio of 3.18 and a current ratio of 3.18.
Institutional investors have recently modified their holdings of the company. State Street Corp bought a new stake in shares of Beasley Broadcast Group in the 2nd quarter worth about $416,000. Northern Trust Corp lifted its position in Beasley Broadcast Group by 302.9% during the 2nd quarter. Northern Trust Corp now owns 56,422 shares of the company’s stock worth $552,000 after buying an additional 42,419 shares in the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in Beasley Broadcast Group during the 2nd quarter worth about $374,000. Schwab Charles Investment Management Inc. acquired a new position in Beasley Broadcast Group during the 2nd quarter worth about $173,000. Finally, Dimensional Fund Advisors LP lifted its position in Beasley Broadcast Group by 3.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 433,048 shares of the company’s stock worth $4,244,000 after buying an additional 14,339 shares in the last quarter. Institutional investors and hedge funds own 14.68% of the company’s stock.
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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