Beasley Broadcast Group (NASDAQ:BBGI) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com started coverage on shares of Beasley Broadcast Group (NASDAQ:BBGI) in a research report issued to clients and investors on Wednesday. The brokerage set a “hold” rating on the stock.

Beasley Broadcast Group Stock Performance

Shares of BBGI opened at $5.88 on Wednesday. Beasley Broadcast Group has a fifty-two week low of $5.76 and a fifty-two week high of $16.60. The firm has a market cap of $9.03 million, a P/E ratio of 3.52 and a beta of 0.81. The stock’s 50-day moving average is $7.38. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60.

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

Hedge Funds Weigh In On Beasley Broadcast Group

A number of hedge funds have recently made changes to their positions in the stock. Gabelli Funds LLC grew its position in shares of Beasley Broadcast Group by 12.6% in the 4th quarter. Gabelli Funds LLC now owns 25,900 shares of the company’s stock valued at $244,000 after buying an additional 2,900 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Beasley Broadcast Group by 25.7% during the fourth quarter. Geode Capital Management LLC now owns 20,733 shares of the company’s stock worth $192,000 after purchasing an additional 4,240 shares during the period. Finally, Gamco Investors INC. ET AL boosted its holdings in shares of Beasley Broadcast Group by 60.7% in the fourth quarter. Gamco Investors INC. ET AL now owns 59,691 shares of the company’s stock valued at $562,000 after acquiring an additional 22,536 shares in the last quarter. Hedge funds and other institutional investors own 21.73% of the company’s stock.

About Beasley Broadcast Group

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.