Beasley Broadcast Group (NASDAQ:BBGI) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Beasley Broadcast Group (NASDAQ:BBGI) to a hold rating in a research note published on Tuesday,Zacks.com reports.

Other equities analysts also recently issued research reports about the company. Noble Financial upgraded Beasley Broadcast Group to a “strong-buy” rating in a research report on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beasley Broadcast Group in a research note on Wednesday, July 8th. Finally, Wall Street Zen upgraded Beasley Broadcast Group to a “hold” rating in a research report on Saturday, May 23rd. One research 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. According to MarketBeat.com, Beasley Broadcast Group has an average rating of “Hold”.

Beasley Broadcast Group Stock Down 6.0%

BBGI stock opened at $19.53 on Tuesday. The company’s 50-day simple moving average is $21.29 and its 200-day simple moving average is $12.80. Beasley Broadcast Group has a 52-week low of $3.14 and a 52-week high of $29.30. The firm has a market cap of $35.35 million, a P/E ratio of -0.18 and a beta of 4.37.

Beasley Broadcast Group (NASDAQ:BBGI) last announced its quarterly earnings results on Wednesday, May 13th. The company reported $1.77 earnings per share for the quarter. Beasley Broadcast Group had a negative return on equity of 27.43% and a negative net margin of 95.51%.The firm had revenue of $42.59 million during the quarter. On average, analysts anticipate that Beasley Broadcast Group will post 2.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BBGI. Gamco Investors INC. ET AL boosted its holdings in Beasley Broadcast Group by 9.5% in the 1st quarter. Gamco Investors INC. ET AL now owns 63,399 shares of the company’s stock worth $212,000 after buying an additional 5,475 shares during the last quarter. HRT Financial LP acquired a new position in shares of Beasley Broadcast Group during the fourth quarter valued at approximately $129,000. Susquehanna International Group LLP purchased a new position in shares of Beasley Broadcast Group in the third quarter valued at approximately $85,000. Finally, Osaic Holdings Inc. purchased a new position in shares of Beasley Broadcast Group in the second quarter valued at approximately $83,000. 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.