Beasley Broadcast Group (NASDAQ:BBGI) Stock Passes Above 200 Day Moving Average – What’s Next?

Beasley Broadcast Group, Inc. (NASDAQ:BBGI) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.00 and traded as high as $7.98. Beasley Broadcast Group shares last traded at $7.80, with a volume of 1,360 shares.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Beasley Broadcast Group in a research report on Friday. They issued a “hold” rating for the company.

Beasley Broadcast Group Stock Down 1.9 %

The stock has a market cap of $12.01 million, a PE ratio of 4.67 and a beta of 0.86. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The business has a 50-day moving average of $8.64.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BBGI. Geode Capital Management LLC increased its holdings in shares of Beasley Broadcast Group by 25.7% in the fourth quarter. Geode Capital Management LLC now owns 20,733 shares of the company’s stock valued at $192,000 after buying an additional 4,240 shares in the last quarter. Gabelli Funds LLC increased its holdings in shares of Beasley Broadcast Group by 12.6% in the fourth quarter. Gabelli Funds LLC now owns 25,900 shares of the company’s stock valued at $244,000 after buying an additional 2,900 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its holdings in shares of Beasley Broadcast Group by 60.7% in the fourth quarter. Gamco Investors INC. ET AL now owns 59,691 shares of the company’s stock valued at $562,000 after buying an additional 22,536 shares in the last quarter. Institutional investors own 21.73% of the company’s stock.

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.