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

Beasley Broadcast Group, Inc. (NASDAQ:BBGI) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.78 and traded as high as $22.94. Beasley Broadcast Group shares last traded at $21.77, with a volume of 81,999 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BBGI. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beasley Broadcast Group in a report on Wednesday, July 8th. Wall Street Zen raised shares of Beasley Broadcast Group to a “hold” rating in a research note on Saturday, May 23rd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Beasley Broadcast Group has a consensus rating of “Sell”.

Beasley Broadcast Group Price Performance

The business has a fifty day moving average of $20.27 and a 200-day moving average of $11.78. The stock has a market cap of $39.40 million, a PE ratio of -0.21 and a beta of 4.37.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. HRT Financial LP purchased a new stake in Beasley Broadcast Group during the fourth quarter valued at approximately $129,000. Osaic Holdings Inc. acquired a new stake in shares of Beasley Broadcast Group in the 2nd quarter worth $83,000. Susquehanna International Group LLP purchased a new stake in shares of Beasley Broadcast Group during the third quarter worth about $85,000. Finally, Gamco Investors INC. ET AL grew its position in Beasley Broadcast Group by 22.3% during the 3rd quarter. Gamco Investors INC. ET AL now owns 56,154 shares of the company’s stock worth $296,000 after purchasing an additional 10,238 shares during the last quarter. 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.