Beasley Broadcast Group (NASDAQ:BBGI) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

by · The Cerbat Gem

Beasley Broadcast Group, Inc. (NASDAQ:BBGI – Get Free Report)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $0.00 and traded as high as $5.64. Beasley Broadcast Group shares last traded at $5.53, with a volume of 4,603 shares.

Analyst Ratings Changes

Separately, StockNews.com started coverage on Beasley Broadcast Group in a research report on Thursday. They issued a “hold” rating for the company.

Get Our Latest Report on BBGI

Beasley Broadcast Group Trading Down 5.5 %

The company has a market capitalization of $7.97 million, a P/E ratio of 3.11 and a beta of 0.81. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. The firm’s 50 day moving average price is $7.02.

Beasley Broadcast Group (NASDAQ:BBGI – Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The company reported $1.52 EPS for the quarter, missing the consensus estimate of $2.20 by ($0.68). The company had revenue of $67.29 million for the quarter, compared to analyst estimates of $72.20 million. Beasley Broadcast Group had a negative return on equity of 5.12% and a net margin of 1.07%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of Beasley Broadcast Group by 25.7% during the 4th quarter. Geode Capital Management LLC now owns 20,733 shares of the company’s stock worth $192,000 after purchasing an additional 4,240 shares during the period. Gabelli Funds LLC grew its stake in Beasley Broadcast Group by 12.6% during the fourth quarter. Gabelli Funds LLC now owns 25,900 shares of the company’s stock worth $244,000 after buying an additional 2,900 shares during the period. Finally, Gamco Investors INC. ET AL increased its position in shares of Beasley Broadcast Group by 60.7% in the fourth quarter. Gamco Investors INC. ET AL now owns 59,691 shares of the company’s stock worth $562,000 after acquiring an additional 22,536 shares in the last quarter. Institutional investors and hedge funds own 21.73% of the company’s stock.

Beasley Broadcast Group Company Profile

(Get Free Report)

Beasley Broadcast Group, Inc, a multi-platform media company, owns and operates radio stations in the United States. The company offers local and national advertisers integrated marketing solutions across audio, digital, and event platforms. It operates Houston Outlaws, an esports team that competes in the Overwatch League; and an esports team that competes in the Rocket League.

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