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

Equities research analysts at StockNews.com assumed coverage on shares of Beasley Broadcast Group (NASDAQ:BBGI) in a report released on Tuesday. The firm set a “hold” rating on the stock.

Beasley Broadcast Group Stock Up 2.4 %

Shares of BBGI opened at $0.73 on Tuesday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.79 and a current ratio of 1.79. Beasley Broadcast Group has a one year low of $0.60 and a one year high of $1.28. The stock has a market capitalization of $22.23 million, a price-to-earnings ratio of -0.29 and a beta of 1.00. The stock has a 50 day moving average price of $0.82 and a 200 day moving average price of $0.82.

Beasley Broadcast Group (NASDAQ:BBGI) last issued its quarterly earnings results on Monday, February 12th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.06). Beasley Broadcast Group had a negative return on equity of 3.99% and a negative net margin of 30.40%. The firm had revenue of $65.75 million for the quarter, compared to analysts’ expectations of $66.05 million. Equities research analysts forecast that Beasley Broadcast Group will post -0.08 earnings per share for the current fiscal year.

Institutional Trading of Beasley Broadcast Group

Several large investors have recently added to or reduced their stakes in the stock. Gamco Investors INC. ET AL grew its holdings in Beasley Broadcast Group by 2.6% in the 4th quarter. Gamco Investors INC. ET AL now owns 749,790 shares of the company’s stock valued at $658,000 after buying an additional 19,340 shares in the last quarter. Northern Trust Corp grew its holdings in Beasley Broadcast Group by 78.2% in the 4th quarter. Northern Trust Corp now owns 40,851 shares of the company’s stock valued at $36,000 after buying an additional 17,921 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Beasley Broadcast Group by 6.9% in the 2nd quarter. Renaissance Technologies LLC now owns 154,321 shares of the company’s stock valued at $157,000 after buying an additional 10,000 shares in the last quarter. Gabelli Funds LLC grew its holdings in Beasley Broadcast Group by 8.7% in the 1st quarter. Gabelli Funds LLC now owns 238,364 shares of the company’s stock valued at $195,000 after buying an additional 19,000 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in Beasley Broadcast Group in the 1st quarter valued at $27,000. 21.73% of the stock is currently owned by hedge funds and other institutional investors.

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.