StockNews.com Initiates Coverage on Beasley Broadcast Group (NASDAQ:BBGI)

Stock analysts at StockNews.com assumed coverage on shares of Beasley Broadcast Group (NASDAQ:BBGI) in a report released on Tuesday. The brokerage set a “hold” rating on the stock.

Beasley Broadcast Group Trading Up 2.4 %

NASDAQ:BBGI opened at $0.73 on Tuesday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 1.77. The business’s 50 day moving average is $0.82 and its two-hundred day moving average is $0.82. Beasley Broadcast Group has a 52 week low of $0.60 and a 52 week high of $1.28. The company has a market cap of $22.23 million, a PE ratio of -0.29 and a beta of 1.00.

Beasley Broadcast Group (NASDAQ:BBGI) last released its earnings results on Monday, February 12th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). Beasley Broadcast Group had a negative return on equity of 3.99% and a negative net margin of 30.40%. The firm had revenue of $65.75 million for the quarter, compared to the consensus estimate of $66.05 million. On average, analysts predict that Beasley Broadcast Group will post -0.08 EPS for the current year.

Institutional Trading of Beasley Broadcast Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Gamco Investors INC. ET AL raised its position in shares of Beasley Broadcast Group by 2.6% during the 4th quarter. Gamco Investors INC. ET AL now owns 749,790 shares of the company’s stock worth $658,000 after purchasing an additional 19,340 shares during the period. Gabelli Funds LLC raised its position in shares of Beasley Broadcast Group by 8.7% during the 1st quarter. Gabelli Funds LLC now owns 238,364 shares of the company’s stock worth $195,000 after purchasing an additional 19,000 shares during the period. Renaissance Technologies LLC raised its position in shares of Beasley Broadcast Group by 6.9% during the 2nd quarter. Renaissance Technologies LLC now owns 154,321 shares of the company’s stock worth $157,000 after purchasing an additional 10,000 shares during the period. Northern Trust Corp raised its position in shares of Beasley Broadcast Group by 78.2% during the 4th quarter. Northern Trust Corp now owns 40,851 shares of the company’s stock worth $36,000 after purchasing an additional 17,921 shares during the period. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Beasley Broadcast Group during the 1st quarter worth approximately $27,000. 21.73% of the stock is currently owned by institutional investors and hedge funds.

About Beasley Broadcast Group

Beasley Broadcast Group, Inc, a multi-platform media company, owns and operates radio stations in the United States. The company offers local and national advertisers integrated marketing solutions across audio, digital, and event platforms. It operates Houston Outlaws, an esports team that competes in the Overwatch League; and an esports team that competes in the Rocket League.