Short Interest in Beasley Broadcast Group, Inc. (NASDAQ:BBGI) Decreases By 11.3%

by · The Markets Daily

Beasley Broadcast Group, Inc. (NASDAQ:BBGI – Get Free Report) was the recipient of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 24,300 shares, a decrease of 11.3% from the September 30th total of 27,400 shares. Based on an average trading volume of 6,500 shares, the short-interest ratio is currently 3.7 days. Approximately 5.2% of the company’s shares are short sold.

Institutional Investors 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 stake in Beasley Broadcast Group, Inc. (NASDAQ:BBGI – Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 44,000 shares of the company’s stock, valued at approximately $34,000. Mount Yale Investment Advisors LLC owned approximately 0.15% of Beasley Broadcast Group at the end of the most recent reporting period. 21.73% of the stock is currently owned by institutional investors.

Beasley Broadcast Group Stock Down 3.7 %

BBGI traded down $0.49 on Thursday, hitting $12.71. The company had a trading volume of 11,603 shares, compared to its average volume of 2,838. Beasley Broadcast Group has a 1 year low of $8.45 and a 1 year high of $20.00. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 1.78. The firm has a market cap of $385.67 million, a P/E ratio of -5.09 and a beta of 0.99.

Beasley Broadcast Group (NASDAQ:BBGI – Get Free Report) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.40. The business had revenue of $60.44 million for the quarter, compared to the consensus estimate of $60.80 million. Beasley Broadcast Group had a negative net margin of 25.52% and a negative return on equity of 0.96%. During the same period in the previous year, the firm earned ($1.60) EPS. On average, sell-side analysts forecast that Beasley Broadcast Group will post -1.2 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Beasley Broadcast Group in a research note on Friday, October 25th. They set a “hold” rating for the company.

Read Our Latest Report on Beasley Broadcast Group

Beasley Broadcast Group Company Profile

(Get Free Report)

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.

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