Beasley Broadcast Group, Inc. (NASDAQ:BBGI) Sees Significant Decrease in Short Interest

Beasley Broadcast Group, Inc. (NASDAQ:BBGI) was the target of a large decline in short interest in the month of December. As of December 31st, there was short interest totaling 55,263 shares, a decline of 51.3% from the December 15th total of 113,363 shares. Currently, 6.5% of the company’s shares are short sold. Based on an average trading volume of 86,254 shares, the short-interest ratio is currently 0.6 days. Based on an average trading volume of 86,254 shares, the short-interest ratio is currently 0.6 days. Currently, 6.5% of the company’s shares are short sold.

Beasley Broadcast Group Stock Up 3.9%

Shares of BBGI opened at $5.56 on Wednesday. The company’s 50-day simple moving average is $5.02 and its 200-day simple moving average is $4.96. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.15 and a current ratio of 1.15. Beasley Broadcast Group has a 1 year low of $3.67 and a 1 year high of $26.37. The stock has a market capitalization of $10.03 million, a PE ratio of -1.18 and a beta of 0.24.

Beasley Broadcast Group (NASDAQ:BBGI) last announced its earnings results on Monday, November 10th. The company reported ($1.97) earnings per share for the quarter. The business had revenue of $50.98 million for the quarter. Beasley Broadcast Group had a negative return on equity of 2.59% and a negative net margin of 3.84%.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Beasley Broadcast Group in a report on Monday, December 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BBGI. Osaic Holdings Inc. acquired a new position in Beasley Broadcast Group during the 2nd quarter worth $83,000. Susquehanna International Group LLP acquired a new position in shares of Beasley Broadcast Group during the third quarter worth about $85,000. Finally, Gamco Investors INC. ET AL increased its stake in shares of Beasley Broadcast Group by 22.3% during the third quarter. Gamco Investors INC. ET AL now owns 56,154 shares of the company’s stock worth $296,000 after buying an additional 10,238 shares during the period. 21.73% of the stock is currently owned by hedge funds and other institutional investors.

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.