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

Beasley Broadcast Group, Inc. (NASDAQ:BBGI) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.02 and traded as high as $5.93. Beasley Broadcast Group shares last traded at $5.56, with a volume of 34,031 shares trading hands.

Wall Street Analysts Forecast Growth

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

Beasley Broadcast Group Price Performance

The company’s fifty day moving average is $5.13 and its 200 day moving average is $5.02. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.68. The stock has a market cap of $10.01 million, a PE ratio of -1.18 and a beta of 0.24.

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

Institutional Trading of Beasley Broadcast Group

A number of institutional investors have recently added to or reduced their stakes in BBGI. Gamco Investors INC. ET AL boosted its holdings in Beasley Broadcast Group by 22.3% in the 3rd quarter. Gamco Investors INC. ET AL now owns 56,154 shares of the company’s stock worth $296,000 after acquiring an additional 10,238 shares during the period. Susquehanna International Group LLP purchased a new stake in shares of Beasley Broadcast Group during the third quarter valued at approximately $85,000. Finally, Osaic Holdings Inc. acquired a new position in shares of Beasley Broadcast Group during the second quarter worth $83,000. 21.73% of the stock is 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.