Beasley Broadcast Group (NASDAQ:BBGI) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Beasley Broadcast Group, Inc. (NASDAQ:BBGI) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.04 and traded as high as $24.90. Beasley Broadcast Group shares last traded at $23.13, with a volume of 18,534 shares.

Analyst Upgrades and Downgrades

BBGI has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Beasley Broadcast Group in a research report on Friday, March 27th. Wall Street Zen upgraded Beasley Broadcast Group to a “hold” rating in a research note on Saturday, May 23rd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Beasley Broadcast Group Price Performance

The business’s fifty day moving average is $19.91 and its 200-day moving average is $11.04. The firm has a market cap of $41.87 million, a PE ratio of -0.22 and a beta of 4.37.

Beasley Broadcast Group (NASDAQ:BBGI) last released its earnings results on Wednesday, May 13th. The company reported $1.77 earnings per share 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 for the quarter.

Institutional Trading of Beasley Broadcast Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Osaic Holdings Inc. bought a new stake in shares of Beasley Broadcast Group during the 2nd quarter valued at $83,000. Susquehanna International Group LLP bought a new position in Beasley Broadcast Group in the 3rd quarter worth 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 grew its holdings 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 buying an additional 5,475 shares in the last quarter. 21.73% of the stock is currently owned by 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.