Beasley Broadcast Group Inc (NASDAQ:BBGI) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D decreased its stake in Beasley Broadcast Group Inc (NASDAQ:BBGI) by 40.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 166,000 shares of the company’s stock after selling 114,000 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Beasley Broadcast Group were worth $515,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Teton Advisors Inc. grew its position in shares of Beasley Broadcast Group by 4.3% in the second quarter. Teton Advisors Inc. now owns 897,000 shares of the company’s stock valued at $2,888,000 after purchasing an additional 37,000 shares during the period. Vanguard Group Inc. grew its position in shares of Beasley Broadcast Group by 188.3% in the second quarter. Vanguard Group Inc. now owns 402,025 shares of the company’s stock valued at $1,295,000 after purchasing an additional 262,579 shares during the period. Renaissance Technologies LLC grew its position in shares of Beasley Broadcast Group by 27.3% in the second quarter. Renaissance Technologies LLC now owns 315,500 shares of the company’s stock valued at $1,016,000 after purchasing an additional 67,700 shares during the period. Russell Investments Group Ltd. grew its position in shares of Beasley Broadcast Group by 92.6% in the second quarter. Russell Investments Group Ltd. now owns 66,207 shares of the company’s stock valued at $213,000 after purchasing an additional 31,837 shares during the period. Finally, Royal Bank of Canada grew its position in shares of Beasley Broadcast Group by 20,530.0% in the second quarter. Royal Bank of Canada now owns 41,260 shares of the company’s stock valued at $133,000 after purchasing an additional 41,060 shares during the period. Institutional investors and hedge funds own 19.13% of the company’s stock.

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 $0.11 during trading on Tuesday, hitting $2.93. The company had a trading volume of 17,700 shares, compared to its average volume of 25,658. The stock has a fifty day simple moving average of $2.95 and a two-hundred day simple moving average of $3.21. Beasley Broadcast Group Inc has a fifty-two week low of $2.80 and a fifty-two week high of $6.33. The firm has a market capitalization of $78.61 million, a price-to-earnings ratio of 10.85 and a beta of 1.08. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.98.

Beasley Broadcast Group (NASDAQ:BBGI) last announced its earnings results on Thursday, November 7th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.01). The company had revenue of $66.12 million during the quarter. Beasley Broadcast Group had a net margin of 4.06% and a return on equity of 2.61%.

About Beasley Broadcast Group

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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Institutional Ownership by Quarter for Beasley Broadcast Group (NASDAQ:BBGI)

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