Beasley Broadcast Group, Inc. (NASDAQ:BBGI) Sees Significant Growth in Short Interest

Beasley Broadcast Group, Inc. (NASDAQ:BBGI) saw a large increase in short interest during the month of January. As of January 30th, there was short interest totaling 101,751 shares, an increase of 146.7% from the January 15th total of 41,241 shares. Based on an average trading volume of 246,763 shares, the short-interest ratio is currently 0.4 days. Approximately 11.9% of the company’s shares are short sold. Approximately 11.9% of the company’s shares are short sold. Based on an average trading volume of 246,763 shares, the short-interest ratio is currently 0.4 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beasley Broadcast Group in a research note on Monday, December 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Beasley Broadcast Group presently has a consensus rating of “Sell”.

Beasley Broadcast Group Stock Performance

Shares of NASDAQ:BBGI opened at $4.08 on Thursday. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.68. The company has a 50-day moving average price of $5.39 and a 200-day moving average price of $5.09. The company has a market cap of $7.34 million, a price-to-earnings ratio of -0.86 and a beta of 0.33. Beasley Broadcast Group has a 12 month low of $3.67 and a 12 month high of $26.37.

Beasley Broadcast Group (NASDAQ:BBGI) last posted its earnings results on Monday, November 10th. The company reported ($1.97) earnings per share (EPS) for the quarter. Beasley Broadcast Group had a negative return on equity of 2.59% and a negative net margin of 3.84%.The business had revenue of $50.98 million during the quarter.

Hedge Funds Weigh In On Beasley Broadcast Group

Several hedge funds have recently made changes to their positions in BBGI. Gamco Investors INC. ET AL lifted its stake in Beasley Broadcast Group by 22.3% in the third quarter. Gamco Investors INC. ET AL now owns 56,154 shares of the company’s stock worth $296,000 after acquiring an additional 10,238 shares during the period. Susquehanna International Group LLP purchased a new position in Beasley Broadcast Group during the 3rd quarter valued at $85,000. Finally, Osaic Holdings Inc. bought a new position in Beasley Broadcast Group in the 2nd quarter worth $83,000. 21.73% of the stock is owned by hedge funds and other institutional investors.

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.