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

Beasley Broadcast Group, Inc. (NASDAQ:BBGI) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $10.27 and traded as high as $26.92. Beasley Broadcast Group shares last traded at $26.25, with a volume of 44,462 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have commented on BBGI shares. Wall Street Zen raised shares of Beasley Broadcast Group to a “hold” rating in a research note on Saturday, May 23rd. Weiss Ratings restated a “sell (d)” rating on shares of Beasley Broadcast Group in a research report on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Beasley Broadcast Group currently has an average rating of “Sell”.

Beasley Broadcast Group Stock Performance

The company has a debt-to-equity ratio of 1.68, a current ratio of 1.10 and a quick ratio of 1.10. The company has a 50 day simple moving average of $19.41 and a 200-day simple moving average of $10.27. The stock has a market cap of $47.51 million, a P/E ratio of -0.25 and a beta of 4.50.

Beasley Broadcast Group (NASDAQ:BBGI) last announced its quarterly earnings data on Wednesday, May 13th. The company reported $1.77 EPS for the quarter. The firm 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 Trading of Beasley Broadcast Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Osaic Holdings Inc. bought a new position in Beasley Broadcast Group during the second quarter valued at approximately $83,000. Susquehanna International Group LLP purchased a new position in shares of Beasley Broadcast Group during the third quarter worth approximately $85,000. HRT Financial LP bought a new stake in shares of Beasley Broadcast Group in the 4th quarter worth approximately $129,000. Finally, Gamco Investors INC. ET AL lifted its holdings in shares of Beasley Broadcast Group by 9.5% in the 1st quarter. Gamco Investors INC. ET AL now owns 63,399 shares of the company’s stock worth $212,000 after acquiring an additional 5,475 shares during 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.