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

Beasley Broadcast Group, Inc. (NASDAQ:BBGI) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $11.04 and traded as high as $24.90. Beasley Broadcast Group shares last traded at $23.13, with a volume of 18,534 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BBGI. Weiss Ratings reiterated a “sell (d-)” rating on shares of Beasley Broadcast Group in a research note on Wednesday. Wall Street Zen raised Beasley Broadcast Group to a “hold” rating in a research note on Saturday, May 23rd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Beasley Broadcast Group has a consensus rating of “Sell”.

Beasley Broadcast Group Trading Down 0.9%

The stock has a market capitalization of $42.25 million, a PE ratio of -0.22 and a beta of 4.37. The stock’s fifty day simple moving average is $20.02 and its 200-day simple moving average is $11.25.

Beasley Broadcast Group (NASDAQ:BBGI) last announced its earnings results on Wednesday, May 13th. The company reported $1.77 EPS for the quarter. Beasley Broadcast Group had a negative net margin of 95.51% and a negative return on equity of 27.43%. The company had revenue of $42.59 million during the quarter.

Institutional Investors Weigh In On Beasley Broadcast Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Susquehanna International Group LLP bought a new position in shares of Beasley Broadcast Group during the 3rd quarter worth approximately $85,000. Osaic Holdings Inc. purchased a new stake in shares of Beasley Broadcast Group during the second quarter valued at approximately $83,000. HRT Financial LP purchased a new stake in shares of Beasley Broadcast Group during the fourth quarter valued at approximately $129,000. Finally, Gamco Investors INC. ET AL lifted its holdings 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 worth $296,000 after acquiring an additional 10,238 shares during the period. Hedge funds and other institutional investors own 21.73% of the company’s stock.

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.