Beasley Broadcast Group (NASDAQ:BBGI) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Beasley Broadcast Group, Inc. (NASDAQ:BBGI) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.00 and traded as high as $5.64. Beasley Broadcast Group shares last traded at $5.53, with a volume of 4,603 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Beasley Broadcast Group in a research note on Thursday. They issued a “hold” rating for the company.

Beasley Broadcast Group Stock Down 5.5 %

The business’s fifty day moving average price is $7.02. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The company has a market capitalization of $7.97 million, a P/E ratio of 3.11 and a beta of 0.81.

Beasley Broadcast Group (NASDAQ:BBGI) last issued its quarterly earnings data on Thursday, March 20th. The company reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($0.68). The firm had revenue of $67.29 million for the quarter, compared to analyst estimates of $72.20 million. Beasley Broadcast Group had a negative return on equity of 5.12% and a net margin of 1.07%.

Institutional Investors Weigh In On Beasley Broadcast Group

A number of large investors have recently added to or reduced their stakes in the business. Gabelli Funds LLC lifted its holdings in shares of Beasley Broadcast Group by 12.6% in the fourth quarter. Gabelli Funds LLC now owns 25,900 shares of the company’s stock valued at $244,000 after purchasing an additional 2,900 shares in the last quarter. Geode Capital Management LLC lifted its stake in Beasley Broadcast Group by 25.7% in the 4th quarter. Geode Capital Management LLC now owns 20,733 shares of the company’s stock valued at $192,000 after buying an additional 4,240 shares in the last quarter. Finally, Gamco Investors INC. ET AL grew its holdings in Beasley Broadcast Group by 60.7% during the 4th quarter. Gamco Investors INC. ET AL now owns 59,691 shares of the company’s stock valued at $562,000 after buying an additional 22,536 shares during the last quarter. 21.73% of the stock is owned by institutional investors and hedge funds.

Beasley Broadcast Group Company Profile

Beasley Broadcast Group, Inc, a multi-platform media company, owns and operates radio stations in the United States. The company offers local and national advertisers integrated marketing solutions across audio, digital, and event platforms. It operates Houston Outlaws, an esports team that competes in the Overwatch League; and an esports team that competes in the Rocket League.