Beasley Broadcast Group Inc (NASDAQ:BBGI) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 28,700 shares, a decrease of 54.3% from the July 31st total of 62,800 shares. Currently, 0.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 49,900 shares, the days-to-cover ratio is presently 0.6 days.
Separately, ValuEngine upgraded shares of Beasley Broadcast Group from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st.
Shares of NASDAQ BBGI traded up $0.05 on Friday, hitting $3.08. The company’s stock had a trading volume of 888 shares, compared to its average volume of 23,511. Beasley Broadcast Group has a 12-month low of $2.91 and a 12-month high of $7.35. The company has a market capitalization of $85.93 million, a price-to-earnings ratio of 12.24 and a beta of 1.10. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a 50 day moving average of $3.18 and a 200-day moving average of $3.51.
Beasley Broadcast Group (NASDAQ:BBGI) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.01). Beasley Broadcast Group had a net margin of 3.92% and a return on equity of 2.46%. The business had revenue of $65.66 million during the quarter.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 30th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 6.49%. The ex-dividend date is Friday, September 27th.
In related news, Director Mark S. Fowler bought 8,700 shares of the stock in a transaction on Wednesday, August 7th. The shares were bought at an average cost of $3.35 per share, for a total transaction of $29,145.00. Following the completion of the transaction, the director now owns 59,090 shares of the company’s stock, valued at approximately $197,951.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 58.65% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC lifted its holdings in shares of Beasley Broadcast Group by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 48,751 shares of the company’s stock valued at $182,000 after purchasing an additional 2,461 shares in the last quarter. Millennium Management LLC increased its position in Beasley Broadcast Group by 23.3% during the fourth quarter. Millennium Management LLC now owns 13,748 shares of the company’s stock worth $52,000 after purchasing an additional 2,601 shares during the last quarter. Bank of America Corp DE increased its position in Beasley Broadcast Group by 6.0% during the fourth quarter. Bank of America Corp DE now owns 47,172 shares of the company’s stock worth $177,000 after purchasing an additional 2,689 shares during the last quarter. Penn Capital Management Co. Inc. increased its position in Beasley Broadcast Group by 10.6% during the first quarter. Penn Capital Management Co. Inc. now owns 188,777 shares of the company’s stock worth $751,000 after purchasing an additional 18,039 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Beasley Broadcast Group during the second quarter worth approximately $89,000. 19.54% of the stock is currently owned by institutional investors.
Beasley Broadcast Group Company Profile
Beasley Broadcast Group, Inc, a radio broadcasting company, operates radio stations in the United States. As of February 11, 2019, it owned and operated 64 stations, including 46 FM and 18 AM stations in 15 large- and mid-size markets. The company was founded in 1961 and is headquartered in Naples, Florida.
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