Beasley Broadcast Group, Inc. (NASDAQ:BBGI) Sees Significant Decrease in Short Interest

by · The Markets Daily

Beasley Broadcast Group, Inc. (NASDAQ:BBGI – Get Free Report) was the recipient of a large decline in short interest in January. As of January 15th, there was short interest totaling 41,241 shares, a decline of 25.4% from the December 31st total of 55,263 shares. Approximately 4.8% of the shares of the company are sold short. Based on an average trading volume of 42,128 shares, the short-interest ratio is currently 1.0 days. Based on an average trading volume of 42,128 shares, the short-interest ratio is currently 1.0 days. Approximately 4.8% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Beasley Broadcast Group in a research report on Monday, December 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

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Beasley Broadcast Group Stock Performance

Shares of Beasley Broadcast Group stock traded down $0.10 during trading on Tuesday, hitting $4.81. 49,916 shares of the stock were exchanged, compared to its average volume of 138,578. Beasley Broadcast Group has a 1-year low of $3.67 and a 1-year high of $26.37. The stock has a market capitalization of $8.66 million, a price-to-earnings ratio of -1.02 and a beta of 0.33. The company has a fifty day moving average price of $5.36 and a 200-day moving average price of $5.09. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.68.

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

Hedge Funds Weigh In On Beasley Broadcast Group

Institutional investors have recently modified their holdings of the company. Osaic Holdings Inc. purchased a new position in Beasley Broadcast Group during the 2nd quarter valued at about $83,000. Susquehanna International Group LLP purchased a new stake in shares of Beasley Broadcast Group in the third quarter worth $85,000. Finally, Gamco Investors INC. ET AL boosted its stake in Beasley Broadcast Group by 22.3% during the third quarter. Gamco Investors INC. ET AL now owns 56,154 shares of the company’s stock valued at $296,000 after buying an additional 10,238 shares during the period. 21.73% of the stock is owned by institutional investors and hedge funds.

Beasley Broadcast Group Company Profile

(Get Free Report)

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.

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