Beasley Broadcast Group (NASDAQ:BBGI) Stock Price 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 Wednesday . The stock has a 200-day moving average of $11.04 and traded as high as $24.90. Beasley Broadcast Group shares last traded at $23.13, with a volume of 18,534 shares changing hands.

Analyst Ratings Changes

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

Beasley Broadcast Group Price Performance

The company has a market capitalization of $41.87 million, a P/E ratio of -0.22 and a beta of 4.37. The stock has a 50-day moving average price of $19.91 and a 200-day moving average price of $11.04.

Beasley Broadcast Group (NASDAQ:BBGI) last announced its earnings results on Wednesday, May 13th. The company reported $1.77 EPS for the quarter. The business 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 Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Osaic Holdings Inc. acquired a new stake in shares of Beasley Broadcast Group in the 2nd quarter valued at about $83,000. Susquehanna International Group LLP acquired a new position in shares of Beasley Broadcast Group during the third quarter worth approximately $85,000. HRT Financial LP bought a new position in shares of Beasley Broadcast Group in the 4th quarter worth $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 purchasing an additional 5,475 shares in the last quarter. Institutional investors and hedge funds 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.