Beasley Broadcast Group, Inc. (NASDAQ:BBGI) Short Interest Update

Beasley Broadcast Group, Inc. (NASDAQ:BBGI) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 102,085 shares, a growth of 51.6% from the August 31st total of 67,327 shares. Based on an average daily volume of 69,646 shares, the days-to-cover ratio is currently 1.5 days. Approximately 11.4% of the company’s shares are short sold.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Beasley Broadcast Group stock. Gamco Investors INC. ET AL raised its position in shares of Beasley Broadcast Group, Inc. (NASDAQ:BBGI) by 9.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 63,399 shares of the company’s stock after acquiring an additional 5,475 shares during the period. Gamco Investors INC. ET AL owned approximately 3.50% of Beasley Broadcast Group worth $212,000 at the end of the most recent reporting period. 21.73% of the stock is owned by institutional investors and hedge funds.

Beasley Broadcast Group Stock Performance

Shares of BBGI stock opened at $12.85 on Thursday. The company has a debt-to-equity ratio of 3.73, a quick ratio of 1.23 and a current ratio of 1.23. The firm has a market capitalization of $23.77 million, a price-to-earnings ratio of -0.22 and a beta of 4.41. Beasley Broadcast Group has a one year low of $3.14 and a one year high of $29.30. The company has a 50 day moving average price of $19.29 and a 200 day moving average price of $17.39.

Beasley Broadcast Group (NASDAQ:BBGI) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $45.95 earnings per share for the quarter, beating analysts’ consensus estimates of ($1.32) by $47.27. Beasley Broadcast Group had a negative net margin of 55.68% and a negative return on equity of 96.53%. The company had revenue of $44.13 million for the quarter, compared to analyst estimates of $43.10 million. Sell-side analysts anticipate that Beasley Broadcast Group will post -2.38 EPS for the current year.

Analyst Upgrades and Downgrades

BBGI has been the subject of several analyst reports. Zacks Research upgraded Beasley Broadcast Group to a “hold” rating in a research note on Tuesday, July 28th. Noble Financial raised Beasley Broadcast Group to a “strong-buy” rating in a research note on Tuesday, July 28th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Beasley Broadcast Group in a report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

Beasley Broadcast Group Company Profile

Beasley Broadcast Group, Inc is a multimedia company that owns and operates radio stations in the United States. Its portfolio includes stations serving a variety of formats, including news, talk, sports, country, rock, adult contemporary and urban programming.

In addition to traditional broadcast radio, Beasley provides digital media and online streaming services, mobile and social media content, and marketing solutions for advertisers. The company also produces and distributes sports and entertainment programming and may support local events and other audience-engagement initiatives through its station brands.

Founded by George G.