Beasley Broadcast Group (NASDAQ:BBGI) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Beasley Broadcast Group, Inc. (NASDAQ:BBGI)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.00 and traded as high as $5.64. Beasley Broadcast Group shares last traded at $5.53, with a volume of 4,603 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Beasley Broadcast Group in a research report on Thursday. They set a “hold” rating for the company.

Beasley Broadcast Group Price Performance

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 company has a market cap of $8.49 million, a price-to-earnings ratio of 3.31 and a beta of 0.81. The stock has a 50-day moving average price of $7.14.

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

Hedge Funds Weigh In On Beasley Broadcast Group

Several hedge funds have recently modified their holdings of the stock. 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 worth $562,000 after purchasing an additional 22,536 shares during the last quarter. Gabelli Funds LLC increased its stake in Beasley Broadcast Group by 12.6% in the 4th quarter. Gabelli Funds LLC now owns 25,900 shares of the company’s stock worth $244,000 after acquiring an additional 2,900 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings 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 worth $192,000 after acquiring an additional 4,240 shares in the last quarter. Hedge funds and other 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.