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

StockNews.com assumed coverage on shares of Beasley Broadcast Group (NASDAQ:BBGI) in a research report report published on Wednesday morning. The brokerage issued a hold rating on the stock.

Beasley Broadcast Group Stock Up 1.3 %

NASDAQ:BBGI opened at $5.93 on Wednesday. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. The firm has a fifty day moving average of $7.43. The company has a market capitalization of $9.10 million, a PE ratio of 3.55 and a beta of 0.81. Beasley Broadcast Group has a twelve month low of $5.76 and a twelve month high of $16.80.

Beasley Broadcast Group (NASDAQ:BBGI) last posted its earnings results on Thursday, March 20th. The company reported $1.52 EPS for the quarter, missing the consensus estimate 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 company had revenue of $67.29 million during the quarter, compared to analysts’ expectations of $72.20 million.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in shares of Beasley Broadcast Group by 25.7% in the 4th quarter. Geode Capital Management LLC now owns 20,733 shares of the company’s stock valued at $192,000 after purchasing an additional 4,240 shares during the period. Gabelli Funds LLC raised its holdings in Beasley Broadcast Group by 12.6% in the fourth quarter. Gabelli Funds LLC now owns 25,900 shares of the company’s stock worth $244,000 after purchasing an additional 2,900 shares in the last quarter. Finally, Gamco Investors INC. ET AL raised its holdings in 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. 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.