Short Interest in Beasley Broadcast Group, Inc. (NASDAQ:BBGI) Drops By 61.8%

Beasley Broadcast Group, Inc. (NASDAQ:BBGI) was the recipient of a large decrease in short interest in the month of April. As of April 30th, there was short interest totaling 71,791 shares, a decrease of 61.8% from the April 15th total of 188,169 shares. Currently, 8.4% of the shares of the company are short sold. Based on an average daily trading volume, of 298,525 shares, the days-to-cover ratio is presently 0.2 days.

Beasley Broadcast Group Stock Performance

Beasley Broadcast Group stock traded down $0.73 during trading on Friday, reaching $14.54. The company had a trading volume of 7,637 shares, compared to its average volume of 880,319. Beasley Broadcast Group has a 52 week low of $3.14 and a 52 week high of $26.37. The firm’s 50-day simple moving average is $10.31 and its 200 day simple moving average is $6.82. The firm has a market capitalization of $26.32 million, a price-to-earnings ratio of -0.14 and a beta of 4.69. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.68.

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 return on equity of 16.56% and a negative net margin of 95.51%.

Institutional Investors Weigh In On Beasley Broadcast Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Susquehanna International Group LLP bought a new stake in Beasley Broadcast Group during the third quarter valued at about $85,000. Osaic Holdings Inc. bought a new stake in Beasley Broadcast Group during the second quarter valued at about $83,000. HRT Financial LP bought a new stake in Beasley Broadcast Group during the fourth quarter valued at about $129,000. Finally, Gamco Investors INC. ET AL raised 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 valued at $296,000 after acquiring an additional 10,238 shares during the period. 21.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Beasley Broadcast Group in a report on Friday, March 27th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average 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.