Beasley Broadcast Group (NASDAQ:BBGI) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Beasley Broadcast Group, Inc. (NASDAQ:BBGI)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $16.20 and traded as high as $16.44. Beasley Broadcast Group shares last traded at $15.95, with a volume of 86,397 shares changing hands.

Analysts Set New Price Targets

A number of analysts recently commented on BBGI shares. Zacks Research raised Beasley Broadcast Group to a “hold” rating in a research note on Tuesday, July 28th. Wall Street Zen raised shares of Beasley Broadcast Group to a “hold” rating in a research note on Saturday, May 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of Beasley Broadcast Group in a report on Wednesday, July 8th. Finally, Noble Financial raised shares of Beasley Broadcast Group to a “strong-buy” rating in a research note on Tuesday, July 28th. One equities research 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 stock. According to data from MarketBeat, the company has an average rating of “Hold”.

Beasley Broadcast Group Price Performance

The company’s 50 day simple moving average is $20.94 and its 200 day simple moving average is $16.20. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 3.73. The stock has a market capitalization of $29.51 million, a PE ratio of -0.27 and a beta of 4.41.

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

Hedge Funds Weigh In On Beasley Broadcast Group

Several large investors have recently added to or reduced their stakes in BBGI. HRT Financial LP acquired a new stake in shares of Beasley Broadcast Group in the fourth quarter worth approximately $129,000. Osaic Holdings Inc. purchased a new stake in Beasley Broadcast Group in the second quarter valued at approximately $83,000. Susquehanna International Group LLP acquired a new position in Beasley Broadcast Group during the third quarter worth approximately $85,000. Finally, Gamco Investors INC. ET AL increased its position in 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 worth $296,000 after purchasing an additional 10,238 shares during the last quarter. 21.73% of the stock is currently owned by hedge funds and other institutional investors.

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.