Beasley Broadcast Group (NASDAQ:BBGI) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Shares of Beasley Broadcast Group, Inc. (NASDAQ:BBGI) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $12.42 and traded as high as $22.69. Beasley Broadcast Group shares last traded at $20.52, with a volume of 18,358 shares.

Analyst Upgrades and Downgrades

BBGI has been the topic of several research analyst reports. Wall Street Zen upgraded Beasley Broadcast Group to a “hold” rating in a research report on Saturday, May 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Beasley Broadcast Group in a research report on Wednesday, July 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Beasley Broadcast Group Stock Down 5.2%

The firm’s fifty day moving average price is $20.91 and its 200 day moving average price is $12.42. The stock has a market cap of $37.14 million, a PE ratio of -0.19 and a beta of 4.37.

Beasley Broadcast Group (NASDAQ:BBGI) last posted its earnings results on Wednesday, May 13th. The company reported $1.77 earnings per share for the quarter. The company had revenue of $42.59 million during the quarter. Beasley Broadcast Group had a negative net margin of 95.51% and a negative return on equity of 27.43%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Osaic Holdings Inc. bought a new stake in shares of Beasley Broadcast Group in the second quarter worth about $83,000. Susquehanna International Group LLP purchased a new position in Beasley Broadcast Group during the 3rd quarter valued at approximately $85,000. HRT Financial LP purchased a new position in Beasley Broadcast Group during the 4th quarter valued at approximately $129,000. Finally, Gamco Investors INC. ET AL grew its holdings in Beasley Broadcast Group by 9.5% during the 1st quarter. Gamco Investors INC. ET AL now owns 63,399 shares of the company’s stock valued at $212,000 after buying an additional 5,475 shares in the last quarter. 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.