Beasley Broadcast Group (NASDAQ:BBGI) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Beasley Broadcast Group, Inc. (NASDAQ:BBGI)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.96 and traded as high as $6.09. Beasley Broadcast Group shares last traded at $5.56, with a volume of 85,176 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Beasley Broadcast Group in a research report on Monday, December 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Beasley Broadcast Group Trading Up 3.9%

The company’s 50-day moving average price is $5.02 and its 200 day moving average price is $4.96. The stock has a market cap of $10.03 million, a PE ratio of -1.18 and a beta of 0.24. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.15 and a current ratio of 1.15.

Beasley Broadcast Group (NASDAQ:BBGI) last posted its quarterly earnings data on Monday, November 10th. The company reported ($1.97) earnings per share (EPS) for the quarter. Beasley Broadcast Group had a negative net margin of 3.84% and a negative return on equity of 2.59%. The firm had revenue of $50.98 million during the quarter.

Hedge Funds Weigh In On Beasley Broadcast Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Osaic Holdings Inc. acquired a new position in shares of Beasley Broadcast Group in the second quarter valued at approximately $83,000. Susquehanna International Group LLP purchased a new stake in shares of Beasley Broadcast Group during the 3rd quarter worth approximately $85,000. Finally, Gamco Investors INC. ET AL increased its position in shares of Beasley Broadcast Group by 22.3% in the third quarter. Gamco Investors INC. ET AL now owns 56,154 shares of the company’s stock valued at $296,000 after buying an additional 10,238 shares in the last quarter. Hedge funds and other institutional investors own 21.73% of the company’s stock.

Beasley Broadcast Group Company Profile

Beasley Broadcast Group, Inc is a diversified media company primarily engaged in the ownership, operation and licensing of radio broadcast stations across the United States. Headquartered in Naples, Florida, the company provides local and regional audiences with a mix of music, news, talk and sports programming designed to serve diverse demographic markets. Through its portfolio of stations, Beasley generates advertising revenues by offering on-air spots, sponsorships and promotional partnerships to national and local advertisers.

In addition to traditional over-the-air programming, Beasley Broadcast Group offers digital services that include live audio streaming, podcast production, mobile apps and website content for many of its radio brands.