StockNews.com Begins Coverage on Beasley Broadcast Group (NASDAQ:BBGI)

Investment analysts at StockNews.com began coverage on shares of Beasley Broadcast Group (NASDAQ:BBGI) in a report released on Wednesday. The brokerage set a “hold” rating on the stock.

Beasley Broadcast Group Trading Up 2.1 %

NASDAQ:BBGI opened at $6.02 on Wednesday. The stock has a market cap of $9.24 million, a price-to-earnings ratio of 3.60 and a beta of 0.81. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. The company has a 50-day moving average price of $7.49. Beasley Broadcast Group has a 12-month low of $5.76 and a 12-month high of $17.00.

Beasley Broadcast Group (NASDAQ:BBGI) last issued its quarterly earnings results on Thursday, March 20th. The company reported $1.52 EPS for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.68). Beasley Broadcast Group had a negative return on equity of 5.12% and a net margin of 1.07%. The firm had revenue of $67.29 million for the quarter, compared to analysts’ expectations of $72.20 million.

Institutional Investors Weigh In On Beasley Broadcast Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Gamco Investors INC. ET AL lifted its position in Beasley Broadcast Group by 60.7% during the fourth quarter. Gamco Investors INC. ET AL now owns 59,691 shares of the company’s stock worth $562,000 after buying an additional 22,536 shares during the period. Gabelli Funds LLC grew its holdings in Beasley Broadcast Group by 12.6% in the 4th 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 during the period. Finally, Geode Capital Management LLC increased its stake in shares of Beasley Broadcast Group by 25.7% during the 4th quarter. Geode Capital Management LLC now owns 20,733 shares of the company’s stock valued at $192,000 after acquiring an additional 4,240 shares during the last quarter. Hedge funds and other institutional investors own 21.73% of the company’s stock.

About Beasley Broadcast Group

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.