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

Beasley Broadcast Group, Inc. (NASDAQ:BBGI) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $15.12 and traded as high as $20.40. Beasley Broadcast Group shares last traded at $18.51, with a volume of 24,481 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BBGI shares. Wall Street Zen upgraded Beasley Broadcast Group to a “hold” rating in a research note on Saturday, May 23rd. Noble Financial raised Beasley Broadcast Group to a “strong-buy” rating in a research note on Tuesday, July 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Beasley Broadcast Group in a report on Wednesday, July 8th. Finally, Zacks Research raised Beasley Broadcast Group to a “hold” rating in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Beasley Broadcast Group Stock Performance

The company has a debt-to-equity ratio of 3.73, a quick ratio of 1.23 and a current ratio of 1.23. The stock has a market cap of $37.12 million, a P/E ratio of -0.34 and a beta of 4.41. The company’s 50 day moving average price is $22.54 and its 200-day moving average price is $15.23.

Beasley Broadcast Group (NASDAQ:BBGI) last released its quarterly earnings results on Wednesday, August 12th. The company reported $45.95 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $44.13 million for the quarter, compared to analyst estimates of $43.10 million. Equities analysts forecast that Beasley Broadcast Group, Inc. will post -2.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Beasley Broadcast Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Gamco Investors INC. ET AL increased 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 valued at $212,000 after acquiring an additional 5,475 shares during the last quarter. Susquehanna International Group LLP purchased a new position in Beasley Broadcast Group in the third quarter worth $85,000. Osaic Holdings Inc. purchased a new position in Beasley Broadcast Group in the second quarter worth $83,000. Finally, HRT Financial LP bought a new position in Beasley Broadcast Group in the 4th quarter valued at $129,000. Hedge funds and other institutional investors own 21.73% of the company’s stock.

About Beasley Broadcast Group

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.