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

Beasley Broadcast Group, Inc. (NASDAQ:BBGI)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $12.42 and traded as high as $22.69. Beasley Broadcast Group shares last traded at $20.52, with a volume of 18,358 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Wall Street Zen raised Beasley Broadcast Group to a “hold” rating in a report on Saturday, May 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Beasley Broadcast Group in a report on Wednesday, July 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Beasley Broadcast Group Stock Down 5.2%

The company has a market capitalization of $37.14 million, a price-to-earnings ratio of -0.19 and a beta of 4.37. The business’s 50-day moving average is $20.91 and its 200-day moving average is $12.42.

Beasley Broadcast Group (NASDAQ:BBGI) last posted its quarterly earnings results on Wednesday, May 13th. The company reported $1.77 EPS for the quarter. The company had revenue of $42.59 million for the quarter. Beasley Broadcast Group had a negative net margin of 95.51% and a negative return on equity of 27.43%.

Institutional Trading of Beasley Broadcast Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Osaic Holdings Inc. purchased a new position in Beasley Broadcast Group during the second quarter valued at approximately $83,000. Susquehanna International Group LLP purchased a new stake in Beasley Broadcast Group in the 3rd quarter worth approximately $85,000. HRT Financial LP purchased a new stake in Beasley Broadcast Group in the 4th quarter worth approximately $129,000. Finally, Gamco Investors INC. ET AL grew its stake in shares of 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 worth $212,000 after purchasing an additional 5,475 shares during the period. 21.73% of the stock is owned by institutional investors and hedge funds.

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.