Beasley Broadcast Group Stock to Reverse Split on Tuesday, September 24th (NASDAQ:BBGI)

Shares of Beasley Broadcast Group, Inc. (NASDAQ:BBGI) are set to reverse split on the morning of Tuesday, September 24th. The 1-20 reverse split was announced on Thursday, September 19th. The number of shares owned by shareholders will be adjusted after the market closes on Monday, September 23rd.

Beasley Broadcast Group Trading Down 2.7 %

NASDAQ BBGI opened at $0.52 on Friday. The company’s 50-day simple moving average is $0.62 and its two-hundred day simple moving average is $0.68. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.77 and a current ratio of 1.77. Beasley Broadcast Group has a one year low of $0.42 and a one year high of $1.00. The company has a market capitalization of $15.79 million, a price-to-earnings ratio of -0.22 and a beta of 1.00.

Beasley Broadcast Group (NASDAQ:BBGI) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. Beasley Broadcast Group had a negative net margin of 25.52% and a negative return on equity of 0.96%. The firm had revenue of $60.44 million for the quarter, compared to the consensus estimate of $60.80 million. During the same quarter in the previous year, the firm earned ($0.08) EPS. Equities analysts forecast that Beasley Broadcast Group will post -0.06 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Beasley Broadcast Group in a research note on Sunday, September 15th. They set a “hold” rating for the company.

Hedge Funds Weigh In On Beasley Broadcast Group

A hedge fund recently bought a new stake in Beasley Broadcast Group stock. Mount Yale Investment Advisors LLC bought a new position in shares of Beasley Broadcast Group, Inc. (NASDAQ:BBGI) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 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 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 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.