Beasley Broadcast Group (NASDAQ:BBGI) Issues Earnings Results

Beasley Broadcast Group (NASDAQ:BBGI) posted its quarterly earnings data on Wednesday. The company reported ($4.09) earnings per share for the quarter, missing the consensus estimate of ($1.32) by ($2.77), Zacks reports. Beasley Broadcast Group had a negative net margin of 95.51% and a negative return on equity of 27.43%.

Beasley Broadcast Group Trading Down 2.5%

Shares of BBGI traded down $0.56 during trading hours on Wednesday, reaching $21.73. The company had a trading volume of 32,478 shares, compared to its average volume of 551,496. Beasley Broadcast Group has a 12-month low of $3.14 and a 12-month high of $29.30. The firm has a 50 day simple moving average of $22.52 and a 200-day simple moving average of $13.88. The company has a market capitalization of $39.33 million, a price-to-earnings ratio of -0.21 and a beta of 4.41.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BBGI shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beasley Broadcast Group in a report on Wednesday, July 8th. Wall Street Zen raised shares of Beasley Broadcast Group to a “hold” rating in a research report on Saturday, May 23rd. Noble Financial upgraded shares of Beasley Broadcast Group to a “strong-buy” rating in a research note on Tuesday, July 28th. Finally, Zacks Research raised shares of Beasley Broadcast Group to a “hold” rating in a report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold”.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. purchased a new position in Beasley Broadcast Group in the second quarter valued at about $83,000. Susquehanna International Group LLP purchased a new stake in shares of Beasley Broadcast Group during the 3rd quarter worth approximately $85,000. HRT Financial LP acquired a new stake in shares of Beasley Broadcast Group in the 4th quarter worth approximately $129,000. Finally, Gamco Investors INC. ET AL grew its holdings in shares of Beasley Broadcast Group by 22.3% in the 3rd 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. 21.73% of the stock is currently owned by institutional investors and hedge funds.

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.