Beasley Broadcast Group (NASDAQ:BBGI) Upgraded by Zacks Research to “Hold” Rating

Beasley Broadcast Group (NASDAQ:BBGI) was upgraded by investment analysts at Zacks Research to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Several other research firms have also weighed in on BBGI. Weiss Ratings reissued a “sell (d-)” rating on shares of Beasley Broadcast Group in a research note on Wednesday, July 8th. Wall Street Zen raised Beasley Broadcast Group to a “hold” rating in a report on Saturday, May 23rd. Finally, Noble Financial raised Beasley Broadcast Group to a “strong-buy” rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Beasley Broadcast Group Price Performance

BBGI stock opened at $19.53 on Tuesday. The firm has a market cap of $35.35 million, a PE ratio of -0.18 and a beta of 4.37. Beasley Broadcast Group has a 12 month low of $3.14 and a 12 month high of $29.30. The firm has a 50 day simple moving average of $21.29 and a 200 day simple moving average of $12.80.

Beasley Broadcast Group (NASDAQ:BBGI) last posted its quarterly earnings results on Wednesday, May 13th. The company reported $1.77 earnings per share (EPS) for the quarter. The firm had revenue of $42.59 million for the quarter. Beasley Broadcast Group had a negative net margin of 95.51% and a negative return on equity of 27.43%. As a group, sell-side analysts expect that Beasley Broadcast Group will post 2.25 earnings per share for the current year.

Institutional Investors Weigh In On Beasley Broadcast Group

Several hedge funds have recently made changes to their positions in the company. Osaic Holdings Inc. acquired a new position in Beasley Broadcast Group in the 2nd quarter worth approximately $83,000. Gamco Investors INC. ET AL raised its stake in Beasley Broadcast Group by 22.3% during the 3rd quarter. Gamco Investors INC. ET AL now owns 56,154 shares of the company’s stock valued at $296,000 after purchasing an additional 10,238 shares during the period. Susquehanna International Group LLP acquired a new stake in Beasley Broadcast Group during the 3rd quarter valued at $85,000. Finally, HRT Financial LP purchased a new stake in shares of Beasley Broadcast Group in the fourth quarter valued at $129,000. Hedge funds and other institutional investors own 21.73% of the company’s stock.

About Beasley Broadcast Group

Beasley Broadcast Group, Inc is a diversified media company primarily engaged in the ownership, operation and licensing of radio broadcast stations across the United States. Headquartered in Naples, Florida, the company provides local and regional audiences with a mix of music, news, talk and sports programming designed to serve diverse demographic markets. Through its portfolio of stations, Beasley generates advertising revenues by offering on-air spots, sponsorships and promotional partnerships to national and local advertisers.

In addition to traditional over-the-air programming, Beasley Broadcast Group offers digital services that include live audio streaming, podcast production, mobile apps and website content for many of its radio brands.