Short Interest in Beasley Broadcast Group, Inc. (NASDAQ:BBGI) Increases By 197.3%

Beasley Broadcast Group, Inc. (NASDAQ:BBGI) saw a significant growth in short interest during the month of April. As of April 15th, there was short interest totaling 188,169 shares, a growth of 197.3% from the March 31st total of 63,284 shares. Based on an average daily volume of 7,173,413 shares, the short-interest ratio is currently 0.0 days. Currently, 22.1% of the shares of the stock are short sold.

Beasley Broadcast Group Stock Performance

BBGI stock opened at $21.77 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.68. Beasley Broadcast Group has a twelve month low of $3.14 and a twelve month high of $26.37. The stock has a market capitalization of $39.40 million, a price-to-earnings ratio of -0.20 and a beta of 0.34. The firm’s fifty day simple moving average is $6.87 and its two-hundred day simple moving average is $5.76.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Gamco Investors INC. ET AL grew its holdings in shares of Beasley Broadcast Group by 22.3% in the third 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 during the last quarter. Susquehanna International Group LLP bought a new position in shares of Beasley Broadcast Group in the third quarter worth about $85,000. Osaic Holdings Inc. bought a new position in shares of Beasley Broadcast Group in the second quarter worth about $83,000. Finally, HRT Financial LP bought a new position in shares of Beasley Broadcast Group in the fourth quarter worth about $129,000. Institutional investors own 21.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated 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 data from MarketBeat, the stock currently has a consensus rating of “Sell”.

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.