Beasley Broadcast Group, Inc. (NASDAQ:BBGI) Sees Significant Decrease in Short Interest

Beasley Broadcast Group, Inc. (NASDAQ:BBGI) was the target of a large decrease in short interest in April. As of April 30th, there was short interest totaling 71,791 shares, a decrease of 61.8% from the April 15th total of 188,169 shares. Based on an average daily trading volume, of 298,525 shares, the days-to-cover ratio is presently 0.2 days. Currently, 8.4% of the company’s stock are sold short.

Beasley Broadcast Group Stock Up 0.9%

NASDAQ:BBGI traded up $0.15 during trading hours on Thursday, reaching $16.95. The company’s stock had a trading volume of 3,846 shares, compared to its average volume of 889,378. The stock has a 50 day moving average price of $10.08 and a two-hundred day moving average price of $6.75. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $30.68 million, a P/E ratio of -0.16 and a beta of 4.69. Beasley Broadcast Group has a 12 month low of $3.14 and a 12 month high of $26.37.

Beasley Broadcast Group (NASDAQ:BBGI) last announced its earnings results on Wednesday, May 13th. The company reported $1.77 earnings per share (EPS) for the quarter. Beasley Broadcast Group had a negative return on equity of 19.90% and a negative net margin of 95.44%.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Beasley Broadcast Group in a report on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Beasley Broadcast Group

A number of institutional investors have recently added to or reduced their stakes in BBGI. HRT Financial LP purchased a new position in Beasley Broadcast Group in the fourth quarter valued at about $129,000. Gamco Investors INC. ET AL lifted its position in shares of Beasley Broadcast Group by 22.3% during the third quarter. Gamco Investors INC. ET AL now owns 56,154 shares of the company’s stock valued at $296,000 after buying an additional 10,238 shares during the last quarter. Susquehanna International Group LLP bought a new stake in shares of Beasley Broadcast Group in the 3rd quarter valued at about $85,000. Finally, Osaic Holdings Inc. bought a new stake in shares of Beasley Broadcast Group in the 2nd quarter valued at about $83,000. Institutional investors own 21.73% of the company’s stock.

Beasley Broadcast Group Company Profile

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.