Beasley Broadcast Group, Inc. (NASDAQ:BBGI) Short Interest Down 13.8% in March

Beasley Broadcast Group, Inc. (NASDAQ:BBGI) was the target of a large drop in short interest in March. As of March 13th, there was short interest totaling 70,004 shares, a drop of 13.8% from the February 26th total of 81,211 shares. Approximately 8.2% of the company’s stock are short sold. Based on an average daily volume of 9,884 shares, the short-interest ratio is currently 7.1 days.

Beasley Broadcast Group Price Performance

NASDAQ:BBGI opened at $3.26 on Tuesday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.15 and a current ratio of 1.15. The company has a market capitalization of $5.87 million, a price-to-earnings ratio of -0.69 and a beta of 0.33. Beasley Broadcast Group has a one year low of $3.22 and a one year high of $26.37. The stock has a 50-day simple moving average of $4.28 and a 200 day simple moving average of $4.95.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Beasley Broadcast Group in a report on Friday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Beasley Broadcast Group

A number of institutional investors have recently made changes to their positions in BBGI. Gamco Investors INC. ET AL raised its position in shares of Beasley Broadcast Group by 22.3% during the 3rd quarter. Gamco Investors INC. ET AL now owns 56,154 shares of the company’s stock valued at $296,000 after acquiring an additional 10,238 shares in the last quarter. Susquehanna International Group LLP acquired a new position in Beasley Broadcast Group in the third quarter worth $85,000. Osaic Holdings Inc. acquired a new position in Beasley Broadcast Group in the second quarter worth $83,000. Finally, HRT Financial LP bought a new stake in Beasley Broadcast Group during the fourth quarter valued at $129,000. 21.73% of the stock is currently owned by institutional investors.

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.