Beasley Broadcast Group (NASDAQ:BBGI) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

Beasley Broadcast Group, Inc. (NASDAQ:BBGI) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $15.75 and traded as high as $19.62. Beasley Broadcast Group shares last traded at $18.04, with a volume of 46,965 shares traded.

Analysts Set New Price Targets

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

Beasley Broadcast Group Trading Down 3.6%

The firm’s 50-day moving average price is $21.86 and its 200 day moving average price is $15.76. The company has a market cap of $32.17 million, a price-to-earnings ratio of -0.29 and a beta of 4.41. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 3.73.

Beasley Broadcast Group (NASDAQ:BBGI) last issued its earnings results on Wednesday, August 12th. The company reported $45.95 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.32) by $47.27. Beasley Broadcast Group had a negative net margin of 55.68% and a negative return on equity of 96.53%. The business had revenue of $44.13 million for the quarter, compared to analyst estimates of $43.10 million. As a group, equities analysts expect that Beasley Broadcast Group, Inc. will post -2.38 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BBGI. Gamco Investors INC. ET AL raised its position in shares of Beasley Broadcast Group by 9.5% during the first quarter. Gamco Investors INC. ET AL now owns 63,399 shares of the company’s stock worth $212,000 after purchasing an additional 5,475 shares during the period. Susquehanna International Group LLP bought a new stake in Beasley Broadcast Group during the 3rd quarter valued at $85,000. Osaic Holdings Inc. acquired a new position in Beasley Broadcast Group during the second quarter worth $83,000. Finally, HRT Financial LP acquired a new position in Beasley Broadcast Group during the fourth quarter worth $129,000. Institutional investors own 21.73% of the company’s stock.

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.