Beasley Broadcast Group (NASDAQ:BBGI) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Beasley Broadcast Group, Inc. (NASDAQ:BBGIGet Free Report)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $16.83 and traded as high as $17.89. Beasley Broadcast Group shares last traded at $16.77, with a volume of 8,694 shares traded.

Analyst Ratings Changes

Several research analysts have recently issued reports on BBGI shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beasley Broadcast Group in a research note on Wednesday, July 8th. Noble Financial raised shares of Beasley Broadcast Group to a “strong-buy” rating in a research note on Tuesday, July 28th. Finally, Zacks Research raised shares of Beasley Broadcast Group to a “hold” rating in a research note on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Get Our Latest Report on Beasley Broadcast Group

Beasley Broadcast Group Trading Down 1.8%

The business has a 50 day simple moving average of $20.09 and a 200-day simple moving average of $16.92. The stock has a market capitalization of $30.71 million, a price-to-earnings ratio of -0.28 and a beta of 4.41. The company has a debt-to-equity ratio of 3.73, a current ratio of 1.23 and a quick ratio of 1.23.

Beasley Broadcast Group (NASDAQ:BBGIGet Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported $45.95 earnings per share for the quarter, beating the consensus estimate of ($1.32) by $47.27. Beasley Broadcast Group had a negative return on equity of 96.53% and a negative net margin of 55.68%.The business had revenue of $44.13 million for the quarter, compared to analysts’ expectations of $43.10 million. As a group, equities analysts expect that Beasley Broadcast Group, Inc. will post -2.38 earnings per share for the current year.

Institutional Investors Weigh In On Beasley Broadcast Group

An institutional investor recently raised its position in Beasley Broadcast Group stock. Gamco Investors INC. ET AL boosted its stake in Beasley Broadcast Group, Inc. (NASDAQ:BBGIFree Report) by 9.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,399 shares of the company’s stock after acquiring an additional 5,475 shares during the quarter. Gamco Investors INC. ET AL owned 3.50% of Beasley Broadcast Group worth $212,000 as of its most recent SEC filing. 21.73% of the stock is currently owned by institutional investors and hedge funds.

About Beasley Broadcast Group

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Beasley Broadcast Group, Inc is a multimedia company that owns and operates radio stations in the United States. Its portfolio includes stations serving a variety of formats, including news, talk, sports, country, rock, adult contemporary and urban programming.

In addition to traditional broadcast radio, Beasley provides digital media and online streaming services, mobile and social media content, and marketing solutions for advertisers. The company also produces and distributes sports and entertainment programming and may support local events and other audience-engagement initiatives through its station brands.

Founded by George G.

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