Beasley Broadcast Group (NASDAQ:BBGI) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Beasley Broadcast Group (NASDAQ:BBGI) in a research note issued to investors on Wednesday morning. The brokerage issued a hold rating on the stock.

Beasley Broadcast Group Stock Up 0.6 %

Shares of BBGI stock opened at $5.90 on Wednesday. Beasley Broadcast Group has a 12 month low of $5.75 and a 12 month high of $16.60. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. The firm has a market capitalization of $9.05 million, a price-to-earnings ratio of 3.53 and a beta of 0.81. The stock’s 50 day simple moving average is $7.32.

Beasley Broadcast Group (NASDAQ:BBGI) last released its earnings results on Thursday, March 20th. The company reported $1.52 EPS for the quarter, missing the consensus estimate of $2.20 by ($0.68). The company had revenue of $67.29 million for the quarter, compared to analyst estimates of $72.20 million. Beasley Broadcast Group had a net margin of 1.07% and a negative return on equity of 5.12%.

Institutional Investors Weigh In On Beasley Broadcast Group

A number of institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in Beasley Broadcast Group by 25.7% in the 4th quarter. Geode Capital Management LLC now owns 20,733 shares of the company’s stock valued at $192,000 after acquiring an additional 4,240 shares in the last quarter. Gabelli Funds LLC grew its holdings in shares of Beasley Broadcast Group by 12.6% during the 4th quarter. Gabelli Funds LLC now owns 25,900 shares of the company’s stock worth $244,000 after purchasing an additional 2,900 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its position in shares of Beasley Broadcast Group by 60.7% during the fourth quarter. Gamco Investors INC. ET AL now owns 59,691 shares of the company’s stock valued at $562,000 after purchasing an additional 22,536 shares during the period. 21.73% of the stock is owned by institutional investors and hedge funds.

Beasley Broadcast Group Company Profile

Beasley Broadcast Group, Inc, a multi-platform media company, owns and operates radio stations in the United States. The company offers local and national advertisers integrated marketing solutions across audio, digital, and event platforms. It operates Houston Outlaws, an esports team that competes in the Overwatch League; and an esports team that competes in the Rocket League.