Short Interest in Beasley Broadcast Group, Inc. (NASDAQ:BBGI) Decreases By 13.8%

Beasley Broadcast Group, Inc. (NASDAQ:BBGI) saw a significant decrease in short interest during the month of March. As of March 13th, there was short interest totaling 70,004 shares, a decrease of 13.8% from the February 26th total of 81,211 shares. Approximately 8.2% of the company’s stock are sold short. Based on an average daily volume of 9,884 shares, the short-interest ratio is currently 7.1 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Beasley Broadcast Group in a research report on Friday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Beasley Broadcast Group Stock Performance

NASDAQ BBGI opened at $3.26 on Tuesday. Beasley Broadcast Group has a 52-week low of $3.22 and a 52-week high of $26.37. The business’s 50-day moving average price is $4.28 and its 200 day moving average price is $4.95. The firm has a market cap of $5.87 million, a P/E ratio of -0.69 and a beta of 0.33. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.68.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. purchased a new stake in shares of Beasley Broadcast Group in the second quarter worth about $83,000. Susquehanna International Group LLP acquired a new stake in Beasley Broadcast Group in the third quarter valued at approximately $85,000. HRT Financial LP purchased a new stake in shares of Beasley Broadcast Group during the fourth quarter valued at approximately $129,000. Finally, Gamco Investors INC. ET AL raised its stake in shares of Beasley Broadcast Group by 22.3% during the third quarter. Gamco Investors INC. ET AL now owns 56,154 shares of the company’s stock valued at $296,000 after purchasing an additional 10,238 shares during the period. 21.73% of the stock is owned by hedge funds and other 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.