Beasley Broadcast Group (NASDAQ:BBGI) Stock Passes Above 200 Day Moving Average – Time to Sell?

Shares of Beasley Broadcast Group, Inc. (NASDAQ:BBGI) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.07 and traded as high as $5.35. Beasley Broadcast Group shares last traded at $5.19, with a volume of 123,889 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Beasley Broadcast Group in a research note on Monday, December 22nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Beasley Broadcast Group Stock Down 4.4%

The firm has a market capitalization of $9.34 million, a PE ratio of -1.10 and a beta of 0.24. The business’s 50 day simple moving average is $5.32 and its 200 day simple moving average is $5.07. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.68.

Beasley Broadcast Group (NASDAQ:BBGI) last announced its earnings results 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 business had revenue of $50.98 million for the quarter.

Hedge Funds Weigh In On Beasley Broadcast Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Osaic Holdings Inc. purchased a new stake in Beasley Broadcast Group during the 2nd quarter valued at $83,000. Susquehanna International Group LLP purchased a new position in Beasley Broadcast Group during the third quarter worth $85,000. Finally, Gamco Investors INC. ET AL increased its position in Beasley Broadcast Group by 22.3% during the third quarter. Gamco Investors INC. ET AL now owns 56,154 shares of the company’s stock valued at $296,000 after acquiring an additional 10,238 shares during the last quarter. Hedge funds and other institutional investors own 21.73% of the company’s stock.

About Beasley Broadcast Group

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.