StockNews.com Initiates Coverage on Beasley Broadcast Group (NASDAQ:BBGI)

Research analysts at StockNews.com initiated coverage on shares of Beasley Broadcast Group (NASDAQ:BBGI) in a note issued to investors on Monday. The firm set a “hold” rating on the stock.

Beasley Broadcast Group Trading Up 3.5 %

Shares of BBGI opened at $0.77 on Monday. The firm has a market cap of $23.31 million, a P/E ratio of -0.31 and a beta of 1.00. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.79 and a quick ratio of 1.79. Beasley Broadcast Group has a 1 year low of $0.60 and a 1 year high of $1.28. The company has a 50 day simple moving average of $0.84 and a two-hundred day simple moving average of $0.82.

Beasley Broadcast Group (NASDAQ:BBGI) last posted its earnings results on Monday, February 12th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The company had revenue of $65.75 million for the quarter, compared to analysts’ expectations of $66.05 million. Beasley Broadcast Group had a negative net margin of 30.40% and a negative return on equity of 3.99%. On average, equities analysts expect that Beasley Broadcast Group will post -0.08 earnings per share for the current fiscal year.

Institutional Trading of Beasley Broadcast Group

A number of large investors have recently added to or reduced their stakes in BBGI. Gamco Investors INC. ET AL increased its position in Beasley Broadcast Group by 3.4% in the third quarter. Gamco Investors INC. ET AL now owns 730,450 shares of the company’s stock worth $636,000 after purchasing an additional 23,900 shares during the last quarter. Gabelli Funds LLC lifted its holdings in shares of Beasley Broadcast Group by 8.7% in the 1st quarter. Gabelli Funds LLC now owns 238,364 shares of the company’s stock valued at $195,000 after acquiring an additional 19,000 shares during the last quarter. Renaissance Technologies LLC grew its position in Beasley Broadcast Group by 6.9% in the second quarter. Renaissance Technologies LLC now owns 154,321 shares of the company’s stock worth $157,000 after acquiring an additional 10,000 shares in the last quarter. Northern Trust Corp grew its position in Beasley Broadcast Group by 78.2% in the fourth quarter. Northern Trust Corp now owns 40,851 shares of the company’s stock worth $36,000 after acquiring an additional 17,921 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in Beasley Broadcast Group during the first quarter worth approximately $27,000. 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.