Beasley Broadcast Group (NASDAQ:BBGI) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Beasley Broadcast Group, Inc. (NASDAQ:BBGI)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.00 and traded as high as $6.37. Beasley Broadcast Group shares last traded at $5.90, with a volume of 4,167 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Beasley Broadcast Group in a research note on Tuesday. They set a “hold” rating on the stock.

Beasley Broadcast Group Trading Up 4.4 %

The stock has a market capitalization of $9.31 million, a price-to-earnings ratio of 3.63 and a beta of 0.81. The company’s 50-day moving average is $7.82. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82.

Institutional Investors Weigh In On Beasley Broadcast Group

A number of institutional investors have recently modified their holdings of BBGI. Geode Capital Management LLC lifted its holdings in Beasley Broadcast Group by 25.7% in the fourth quarter. Geode Capital Management LLC now owns 20,733 shares of the company’s stock worth $192,000 after acquiring an additional 4,240 shares during the last quarter. Gabelli Funds LLC lifted its holdings in shares of Beasley Broadcast Group by 12.6% in the 4th quarter. Gabelli Funds LLC now owns 25,900 shares of the company’s stock worth $244,000 after purchasing an additional 2,900 shares during the last quarter. Finally, Gamco Investors INC. ET AL boosted its position in Beasley Broadcast Group by 60.7% during the 4th quarter. Gamco Investors INC. ET AL now owns 59,691 shares of the company’s stock valued at $562,000 after purchasing an additional 22,536 shares during the period. Institutional investors own 21.73% of the company’s stock.

About Beasley Broadcast Group

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.