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

Analysts at StockNews.com began coverage on shares of Beasley Broadcast Group (NASDAQ:BBGI) in a note issued to investors on Wednesday. The brokerage set a “hold” rating on the stock.

Beasley Broadcast Group Stock Performance

NASDAQ BBGI opened at $5.88 on Wednesday. Beasley Broadcast Group has a 52-week low of $5.76 and a 52-week high of $16.60. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The stock’s 50-day moving average is $7.38. The stock has a market capitalization of $9.03 million, a P/E ratio of 3.52 and a beta of 0.81.

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

Hedge Funds Weigh In On Beasley Broadcast Group

Institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in Beasley Broadcast Group by 25.7% in the 4th quarter. Geode Capital Management LLC now owns 20,733 shares of the company’s stock worth $192,000 after buying an additional 4,240 shares during the last quarter. Gabelli Funds LLC grew its stake in shares of Beasley Broadcast Group by 12.6% during the 4th quarter. Gabelli Funds LLC now owns 25,900 shares of the company’s stock valued at $244,000 after acquiring an additional 2,900 shares during the period. Finally, Gamco Investors INC. ET AL increased its stake 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 worth $562,000 after purchasing an additional 22,536 shares in the last quarter. 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.