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

Beasley Broadcast Group, Inc. (NASDAQ:BBGI)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.65 and traded as high as $24.85. Beasley Broadcast Group shares last traded at $22.40, with a volume of 241,742 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Beasley Broadcast Group in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.

Beasley Broadcast Group Price Performance

The business has a fifty day moving average price of $6.51 and a 200-day moving average price of $5.65. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.68. The stock has a market capitalization of $40.54 million, a PE ratio of -0.21 and a beta of 0.34.

Hedge Funds Weigh In On Beasley Broadcast Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Gamco Investors INC. ET AL boosted its holdings in shares of 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. Susquehanna International Group LLP purchased a new position in shares of Beasley Broadcast Group in the 3rd quarter worth about $85,000. Osaic Holdings Inc. bought a new stake in shares of Beasley Broadcast Group in the 2nd quarter valued at about $83,000. Finally, HRT Financial LP bought a new stake in shares of Beasley Broadcast Group in the 4th quarter valued at about $129,000. 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.