Beasley Broadcast Group, Inc. (NASDAQ:BBGI) Sees Significant Drop in Short Interest

Beasley Broadcast Group, Inc. (NASDAQ:BBGI) was the recipient of a significant decrease in short interest in September. As of September 15th, there was short interest totalling 8,300 shares, a decrease of 83.9% from the August 31st total of 51,600 shares. Currently, 1.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,800 shares, the days-to-cover ratio is currently 3.0 days.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Beasley Broadcast Group in a report on Monday. They issued a “hold” rating on the stock.

Beasley Broadcast Group Trading Up 6.3 %

Shares of Beasley Broadcast Group stock traded up $0.68 on Friday, reaching $11.48. The stock had a trading volume of 5,488 shares, compared to its average volume of 1,841. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 1.78. The company has a market cap of $348.35 million, a price-to-earnings ratio of -4.81 and a beta of 1.00. Beasley Broadcast Group has a 1 year low of $8.45 and a 1 year high of $20.00.

Beasley Broadcast Group (NASDAQ:BBGI) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.02. The company had revenue of $60.44 million for the quarter, compared to analysts’ expectations of $60.80 million. Beasley Broadcast Group had a negative net margin of 25.52% and a negative return on equity of 0.96%. During the same period in the prior year, the business earned ($0.08) earnings per share. On average, equities analysts expect that Beasley Broadcast Group will post -0.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Beasley Broadcast Group stock. Mount Yale Investment Advisors LLC purchased a new stake in shares of Beasley Broadcast Group, Inc. (NASDAQ:BBGI) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 44,000 shares of the company’s stock, valued at approximately $34,000. Mount Yale Investment Advisors LLC owned approximately 0.15% of Beasley Broadcast Group at the end of the most recent reporting period. Hedge funds and other institutional investors own 21.73% of the company’s stock.

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.