Beasley Broadcast Group, Inc. (NASDAQ:BBGI) Shares Shorted: Short Interest Up 51.6% in September

Beasley Broadcast Group, Inc. (NASDAQ:BBGI) was the recipient of a significant growth in short interest in September. As of September 15th, there was short interest totaling 102,085 shares, a growth of 51.6% from the August 31st total of 67,327 shares. Based on an average trading volume of 69,646 shares, the days-to-cover ratio is presently 1.5 days. Approximately 11.4% of the shares of the company are sold short.

Hedge Funds Weigh In On Beasley Broadcast Group

An institutional investor recently raised its stake in Beasley Broadcast Group stock. Gamco Investors INC. ET AL boosted its stake in shares of Beasley Broadcast Group, Inc. (NASDAQ:BBGI) by 9.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,399 shares of the company’s stock after acquiring an additional 5,475 shares during the period. Gamco Investors INC. ET AL owned 3.50% of Beasley Broadcast Group worth $212,000 at the end of the most recent reporting period. 21.73% of the stock is owned by hedge funds and other institutional investors.

Beasley Broadcast Group Stock Performance

Shares of BBGI stock opened at $11.23 on Friday. Beasley Broadcast Group has a 52 week low of $3.14 and a 52 week high of $29.30. The company has a market capitalization of $20.78 million, a price-to-earnings ratio of -0.19 and a beta of 4.58. The company has a 50-day simple moving average of $19.08 and a 200 day simple moving average of $17.44. The company has a debt-to-equity ratio of 3.73, a quick ratio of 1.23 and a current ratio of 1.23.

Beasley Broadcast Group (NASDAQ:BBGI) last issued its quarterly earnings data 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. The firm had revenue of $44.13 million during the quarter, compared to the consensus estimate of $43.10 million. Beasley Broadcast Group had a negative net margin of 55.68% and a negative return on equity of 96.53%. On average, sell-side analysts predict that Beasley Broadcast Group will post -2.38 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BBGI. Weiss Ratings reissued a “sell (d-)” rating on shares of Beasley Broadcast Group in a research report on Wednesday, July 8th. Noble Financial upgraded Beasley Broadcast Group to a “strong-buy” rating in a report on Tuesday, July 28th. Finally, Zacks Research raised Beasley Broadcast Group to a “hold” rating in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold”.

About Beasley Broadcast Group

Beasley Broadcast Group, Inc is a multimedia company that owns and operates radio stations in the United States. Its portfolio includes stations serving a variety of formats, including news, talk, sports, country, rock, adult contemporary and urban programming.

In addition to traditional broadcast radio, Beasley provides digital media and online streaming services, mobile and social media content, and marketing solutions for advertisers. The company also produces and distributes sports and entertainment programming and may support local events and other audience-engagement initiatives through its station brands.

Founded by George G.