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

Beasley Broadcast Group, Inc. (NASDAQ:BBGI) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.13 and traded as high as $15.44. Beasley Broadcast Group shares last traded at $14.67, with a volume of 46,921 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BBGI. Weiss Ratings reissued a “sell (d)” rating on shares of Beasley Broadcast Group in a research report on Friday, March 27th. Wall Street Zen raised shares of Beasley Broadcast Group to a “hold” rating in a research report on Saturday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Beasley Broadcast Group has an average rating of “Sell”.

Beasley Broadcast Group Stock Up 3.3%

The firm has a market cap of $27.42 million, a PE ratio of -0.14 and a beta of 4.69. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.00 and a current ratio of 1.10. The company’s 50-day simple moving average is $11.54 and its two-hundred day simple moving average is $7.18.

Beasley Broadcast Group (NASDAQ:BBGI) last posted its earnings results on Wednesday, May 13th. The company reported $1.77 EPS for the quarter. Beasley Broadcast Group had a negative net margin of 95.51% and a negative return on equity of 27.43%. The firm had revenue of $42.59 million during the quarter.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BBGI. Osaic Holdings Inc. purchased a new position in Beasley Broadcast Group during the 2nd quarter valued at about $83,000. Susquehanna International Group LLP purchased a new position in Beasley Broadcast Group during the 3rd quarter valued at about $85,000. HRT Financial LP purchased a new position in Beasley Broadcast Group during the 4th quarter valued at about $129,000. Finally, Gamco Investors INC. ET AL lifted its position in Beasley Broadcast Group by 9.5% during the 1st quarter. Gamco Investors INC. ET AL now owns 63,399 shares of the company’s stock valued at $212,000 after acquiring an additional 5,475 shares during the period. 21.73% of the stock is owned by hedge funds and other 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.