Beasley Broadcast Group (NASDAQ:BBGI) Stock Passes Above 200 Day Moving Average – Time to Sell?

Beasley Broadcast Group, Inc. (NASDAQ:BBGI) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.07 and traded as high as $5.35. Beasley Broadcast Group shares last traded at $5.19, with a volume of 123,889 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed 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, Based on data from MarketBeat, Beasley Broadcast Group has an average rating of “Sell”.

Beasley Broadcast Group Price Performance

The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.68. The stock has a 50 day simple moving average of $5.32 and a 200-day simple moving average of $5.07. The firm has a market cap of $9.34 million, a PE ratio of -1.10 and a beta of 0.24.

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

Hedge Funds Weigh In On Beasley Broadcast Group

Hedge funds have recently modified their holdings of the stock. Osaic Holdings Inc. purchased a new position in Beasley Broadcast Group during the second quarter valued at $83,000. Gamco Investors INC. ET AL lifted its stake 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 purchasing an additional 10,238 shares in the last quarter. Finally, Susquehanna International Group LLP bought a new position in shares of Beasley Broadcast Group during the 3rd quarter valued at about $85,000. Hedge funds and other institutional investors 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.