Beasley Broadcast Group, Inc. (NASDAQ:BBGI – Get Rating) saw a large increase in short interest in the month of August. As of August 15th, there was short interest totalling 62,100 shares, an increase of 99.7% from the July 31st total of 31,100 shares. Based on an average daily volume of 27,100 shares, the days-to-cover ratio is presently 2.3 days. Currently, 0.8% of the company's shares are sold short.
Analyst Upgrades and Downgrades
Separately, StockNews.com began coverage on Beasley Broadcast Group in a research note on Thursday. They set a "hold" rating on the stock.
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Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in BBGI. Raymond James Financial Services Advisors Inc. acquired a new stake in Beasley Broadcast Group in the 1st quarter valued at $27,000. Gamco Investors INC. ET AL increased its holdings in Beasley Broadcast Group by 4.7% in the 2nd quarter. Gamco Investors INC. ET AL now owns 762,900 shares of the company's stock valued at $977,000 after purchasing an additional 34,000 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in Beasley Broadcast Group by 19.5% in the 1st quarter. Signaturefd LLC now owns 38,646 shares of the company's stock valued at $68,000 after purchasing an additional 6,312 shares in the last quarter. 12.33% of the stock is owned by hedge funds and other institutional investors.
Beasley Broadcast Group Trading Down 1.5 %
Shares of Beasley Broadcast Group stock traded down $0.02 during trading hours on Friday, reaching $1.22. 23,186 shares of the company's stock were exchanged, compared to its average volume of 29,000. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $36.10 million, a price-to-earnings ratio of -3.94 and a beta of 1.18. The company has a fifty day moving average of $1.30 and a 200-day moving average of $1.54. Beasley Broadcast Group has a 52-week low of $1.20 and a 52-week high of $2.88.
Beasley Broadcast Group (NASDAQ:BBGI – Get Rating) last issued its earnings results on Monday, August 1st. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.44). Beasley Broadcast Group had a negative return on equity of 3.47% and a negative net margin of 3.63%. During the same period in the previous year, the business earned $0.01 earnings per share. Sell-side analysts forecast that Beasley Broadcast Group will post 0.09 EPS for the current fiscal year.
Beasley Broadcast Group Company Profile
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Beasley Broadcast Group, Inc, a multi-platform media company, owns and operates radio stations in the United States. It also operates Houston Outlaws, an esports team that competes in the Overwatch League. The company was founded in 1961 and is headquartered in Naples, Florida.
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