Beasley Broadcast Group (NASDAQ:BBGI) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

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 $8.61 and traded as high as $23.64. Beasley Broadcast Group shares last traded at $22.76, with a volume of 17,904 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BBGI. Weiss Ratings reissued a “sell (d)” rating on shares of Beasley Broadcast Group in a report on Friday, March 27th. Wall Street Zen raised shares of Beasley Broadcast Group to a “hold” rating in a report on Saturday, May 23rd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Beasley Broadcast Group Stock Performance

The stock has a fifty day moving average price of $15.76 and a two-hundred day moving average price of $8.61. The company has a market cap of $41.20 million, a P/E ratio of -0.22 and a beta of 4.50. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.10 and a quick ratio of 1.10.

Beasley Broadcast Group (NASDAQ:BBGI) last released its quarterly earnings results on Wednesday, May 13th. The company reported $1.77 earnings per share for the quarter. The company had revenue of $42.59 million for the quarter. Beasley Broadcast Group had a negative return on equity of 27.43% and a negative net margin of 95.51%.

Institutional Investors Weigh In On Beasley Broadcast Group

A number of hedge funds have recently made changes to their positions in the business. Gamco Investors INC. ET AL raised its holdings in shares of Beasley Broadcast Group by 9.5% during the first quarter. Gamco Investors INC. ET AL now owns 63,399 shares of the company’s stock valued at $212,000 after buying an additional 5,475 shares during the last quarter. HRT Financial LP bought a new stake in shares of Beasley Broadcast Group during the fourth quarter valued at approximately $129,000. Susquehanna International Group LLP bought a new stake in shares of Beasley Broadcast Group during the third quarter valued at approximately $85,000. Finally, Osaic Holdings Inc. bought a new stake in shares of Beasley Broadcast Group during the second quarter valued at approximately $83,000. 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.