Beasley Broadcast Group (NASDAQ:BBGI) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Beasley Broadcast Group, Inc. (NASDAQ:BBGI)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.61 and traded as high as $23.64. Beasley Broadcast Group shares last traded at $22.76, with a volume of 17,904 shares.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BBGI. Weiss Ratings restated a “sell (d)” rating on shares of Beasley Broadcast Group in a report on Friday, March 27th. Wall Street Zen upgraded shares of Beasley Broadcast Group to a “hold” rating in a report on Saturday, May 23rd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Beasley Broadcast Group currently has a consensus rating of “Sell”.

Beasley Broadcast Group Stock Performance

The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.68. The business’s 50 day moving average is $16.05 and its 200 day moving average is $8.67. The stock has a market capitalization of $32.16 million, a PE ratio of -0.17 and a beta of 4.50.

Beasley Broadcast Group (NASDAQ:BBGI) last released its quarterly 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 firm had revenue of $42.59 million during the quarter.

Hedge Funds Weigh In On Beasley Broadcast Group

A number of large investors have recently made changes to their positions in the company. Gamco Investors INC. ET AL boosted its stake in shares of Beasley Broadcast Group by 9.5% during the 1st quarter. Gamco Investors INC. ET AL now owns 63,399 shares of the company’s stock worth $212,000 after purchasing an additional 5,475 shares during the period. HRT Financial LP purchased a new position in shares of Beasley Broadcast Group during the 4th quarter worth about $129,000. Osaic Holdings Inc. purchased a new position in shares of Beasley Broadcast Group during the 2nd quarter worth about $83,000. Finally, Susquehanna International Group LLP purchased a new stake in Beasley Broadcast Group in the 3rd quarter valued at about $85,000. 21.73% of the stock is owned by hedge funds and other institutional investors.

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.