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

Beasley Broadcast Group, Inc. (NASDAQ:BBGI) was the target of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 21,800 shares, a drop of 10.3% from the October 15th total of 24,300 shares. Based on an average daily volume of 6,600 shares, the short-interest ratio is currently 3.3 days. Currently, 4.6% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Beasley Broadcast Group in a research note on Monday. They issued a “hold” rating on the stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Beasley Broadcast Group stock. Mount Yale Investment Advisors LLC acquired a new position in shares of Beasley Broadcast Group, Inc. (NASDAQ:BBGI) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 44,000 shares of the company’s stock, valued at approximately $34,000. Mount Yale Investment Advisors LLC owned about 0.15% of Beasley Broadcast Group as of its most recent filing with the Securities and Exchange Commission. 21.73% of the stock is currently owned by hedge funds and other institutional investors.

Beasley Broadcast Group Price Performance

Shares of NASDAQ BBGI opened at $8.40 on Tuesday. The stock has a market capitalization of $14.87 million, a P/E ratio of 5.03 and a beta of 0.97. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. Beasley Broadcast Group has a fifty-two week low of $7.66 and a fifty-two week high of $20.00.

Beasley Broadcast Group (NASDAQ:BBGI) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($2.33) earnings per share for the quarter. Beasley Broadcast Group had a negative return on equity of 5.12% and a net margin of 1.07%. The business had revenue of $58.19 million during the quarter, compared to analysts’ expectations of $61.10 million. During the same period in the prior year, the firm posted $1.80 EPS. Sell-side analysts forecast that Beasley Broadcast Group will post -1.2 earnings per share for the current fiscal year.

Beasley Broadcast Group Company Profile

Beasley Broadcast Group, Inc, a multi-platform media company, owns and operates radio stations in the United States. The company offers local and national advertisers integrated marketing solutions across audio, digital, and event platforms. It operates Houston Outlaws, an esports team that competes in the Overwatch League; and an esports team that competes in the Rocket League.