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

Beasley Broadcast Group, Inc. (NASDAQ:BBGI) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $12.42 and traded as high as $22.69. Beasley Broadcast Group shares last traded at $20.52, with a volume of 18,358 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beasley Broadcast Group in a report on Wednesday, July 8th. Wall Street Zen raised shares of 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 an average rating of “Sell”.

Beasley Broadcast Group Stock Performance

The firm has a market capitalization of $37.14 million, a price-to-earnings ratio of -0.19 and a beta of 4.37. The company has a 50 day moving average price of $20.91 and a two-hundred day moving average price of $12.42.

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

Institutional Trading of Beasley Broadcast Group

Several institutional investors have recently modified their holdings of BBGI. Gamco Investors INC. ET AL increased its stake in shares of 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 purchasing an additional 10,238 shares in the last quarter. HRT Financial LP acquired a new position in shares of Beasley Broadcast Group during the 4th quarter worth about $129,000. Susquehanna International Group LLP purchased a new position in Beasley Broadcast Group in the 3rd quarter valued at about $85,000. Finally, Osaic Holdings Inc. purchased a new position in Beasley Broadcast Group in the 2nd quarter valued at about $83,000. Institutional investors and hedge funds own 21.73% of the company’s stock.

Beasley Broadcast Group Company Profile

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.