Beasley Broadcast Group (NASDAQ:BBGI) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Beasley Broadcast Group, Inc. (NASDAQ:BBGI)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $13.88 and traded as high as $23.85. Beasley Broadcast Group shares last traded at $22.29, with a volume of 40,237 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Zacks Research upgraded Beasley Broadcast Group to a “hold” rating in a report on Tuesday, July 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Beasley Broadcast Group in a report on Wednesday, July 8th. Wall Street Zen upgraded Beasley Broadcast Group to a “hold” rating in a research note on Saturday, May 23rd. Finally, Noble Financial raised Beasley Broadcast Group to a “strong-buy” rating in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Beasley Broadcast Group Stock Performance

The stock’s fifty day simple moving average is $22.55 and its 200-day simple moving average is $14.00. The stock has a market cap of $44.71 million, a P/E ratio of -0.23 and a beta of 4.41.

Beasley Broadcast Group (NASDAQ:BBGI) last announced its earnings results on Wednesday, August 12th. The company reported ($4.09) EPS for the quarter, missing the consensus estimate of ($1.32) by ($2.77). Beasley Broadcast Group had a negative return on equity of 27.43% and a negative net margin of 95.51%.The business had revenue of $44.13 million for the quarter, compared to the consensus estimate of $43.10 million. As a group, equities research analysts forecast that Beasley Broadcast Group, Inc. will post 2.25 earnings per share for the current year.

Hedge Funds Weigh In On Beasley Broadcast Group

Hedge funds have recently added to or reduced their stakes in the stock. Gamco Investors INC. ET AL lifted its position 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 valued at $212,000 after acquiring an additional 5,475 shares during the period. HRT Financial LP bought a new position in shares of Beasley Broadcast Group in the fourth quarter worth $129,000. Susquehanna International Group LLP acquired a new position in Beasley Broadcast Group in the third quarter valued at about $85,000. Finally, Osaic Holdings Inc. acquired a new position in Beasley Broadcast Group in the second quarter valued at about $83,000. 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.