Beasley Broadcast Group (NASDAQ:BBGI) Coverage Initiated at StockNews.com

Analysts at StockNews.com began coverage on shares of Beasley Broadcast Group (NASDAQ:BBGI) in a research report issued to clients and investors on Wednesday. The firm set a “hold” rating on the stock.

Beasley Broadcast Group Trading Up 2.1 %

BBGI stock opened at $6.02 on Wednesday. The firm’s 50 day moving average is $7.49. The firm has a market cap of $9.24 million, a P/E ratio of 3.60 and a beta of 0.81. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. Beasley Broadcast Group has a 12-month low of $5.76 and a 12-month high of $17.00.

Beasley Broadcast Group (NASDAQ:BBGI) last released its quarterly earnings data on Thursday, March 20th. The company reported $1.52 earnings per share for the quarter, missing the consensus estimate of $2.20 by ($0.68). The firm had revenue of $67.29 million during the quarter, compared to analysts’ expectations of $72.20 million. Beasley Broadcast Group had a net margin of 1.07% and a negative return on equity of 5.12%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Gamco Investors INC. ET AL grew its stake in Beasley Broadcast Group by 60.7% in the 4th quarter. Gamco Investors INC. ET AL now owns 59,691 shares of the company’s stock valued at $562,000 after acquiring an additional 22,536 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Beasley Broadcast Group by 25.7% in the fourth quarter. Geode Capital Management LLC now owns 20,733 shares of the company’s stock valued at $192,000 after purchasing an additional 4,240 shares in the last quarter. Finally, Gabelli Funds LLC lifted its holdings in shares of Beasley Broadcast Group by 12.6% in the fourth quarter. Gabelli Funds LLC now owns 25,900 shares of the company’s stock valued at $244,000 after purchasing an additional 2,900 shares in the last quarter. Institutional investors and hedge funds own 21.73% of the company’s stock.

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.