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

Beasley Broadcast Group, Inc. (NASDAQ:BBGI) saw a large decline in short interest in the month of January. As of January 15th, there was short interest totaling 41,241 shares, a decline of 25.4% from the December 31st total of 55,263 shares. Based on an average daily trading volume, of 42,128 shares, the days-to-cover ratio is currently 1.0 days. Currently, 4.8% of the company’s shares are short sold. Currently, 4.8% of the company’s shares are short sold. Based on an average daily trading volume, of 42,128 shares, the days-to-cover ratio is currently 1.0 days.

Institutional Trading of Beasley Broadcast Group

Large investors have recently made changes to their positions in the company. Osaic Holdings Inc. bought a new stake in shares of Beasley Broadcast Group during the 2nd quarter valued at approximately $83,000. Susquehanna International Group LLP acquired a new position in Beasley Broadcast Group in the 3rd quarter valued at approximately $85,000. Finally, Gamco Investors INC. ET AL raised its stake 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 acquiring an additional 10,238 shares during the last quarter. Institutional investors and hedge funds own 21.73% of the company’s stock.

Beasley Broadcast Group Stock Performance

NASDAQ:BBGI traded down $0.05 on Monday, hitting $4.96. The company’s stock had a trading volume of 29,403 shares, compared to its average volume of 142,743. The stock has a fifty day moving average of $5.34 and a two-hundred day moving average of $5.08. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.68. The firm has a market capitalization of $8.93 million, a P/E ratio of -1.05 and a beta of 0.33. Beasley Broadcast Group has a one year low of $3.67 and a one year high of $26.37.

Beasley Broadcast Group (NASDAQ:BBGI) last announced its earnings results on Monday, November 10th. The company reported ($1.97) earnings per share for the quarter. The firm had revenue of $50.98 million for the quarter. Beasley Broadcast Group had a negative return on equity of 2.59% and a negative net margin of 3.84%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Beasley Broadcast Group in a report on Monday, December 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

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.