Beasley Broadcast Group (NASDAQ:BBGI) issued its quarterly earnings results on Monday. The company reported $0.50 earnings per share (EPS) for the quarter, Morningstar.com reports. The company had revenue of $58.52 million during the quarter. Beasley Broadcast Group had a return on equity of 12.35% and a net margin of 25.94%.
Beasley Broadcast Group (NASDAQ:BBGI) traded up $0.65 during mid-day trading on Tuesday, reaching $12.65. The company’s stock had a trading volume of 51,400 shares, compared to its average volume of 14,005. The company has a debt-to-equity ratio of 0.95, a quick ratio of 3.18 and a current ratio of 3.18. Beasley Broadcast Group has a twelve month low of $7.75 and a twelve month high of $18.19. The stock has a market capitalization of $345.43, a price-to-earnings ratio of 12.50 and a beta of 0.67.
A number of hedge funds have recently added to or reduced their stakes in BBGI. State Street Corp purchased a new stake in Beasley Broadcast Group in the second quarter worth $416,000. Northern Trust Corp increased its stake in Beasley Broadcast Group by 302.9% in the second quarter. Northern Trust Corp now owns 56,422 shares of the company’s stock worth $552,000 after purchasing an additional 42,419 shares during the period. Bank of New York Mellon Corp purchased a new stake in Beasley Broadcast Group in the fourth quarter worth $543,000. Schwab Charles Investment Management Inc. purchased a new stake in Beasley Broadcast Group in the second quarter worth $173,000. Finally, Dimensional Fund Advisors LP increased its stake in Beasley Broadcast Group by 3.4% in the second quarter. Dimensional Fund Advisors LP now owns 433,048 shares of the company’s stock worth $4,244,000 after purchasing an additional 14,339 shares during the period. Institutional investors and hedge funds own 14.38% of the company’s stock.
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About Beasley Broadcast Group
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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