Beasley Broadcast Group, Inc. (NASDAQ:BBGI) Short Interest Update

Beasley Broadcast Group, Inc. (NASDAQ:BBGI) was the recipient of a significant decline in short interest in December. As of December 31st, there was short interest totaling 55,263 shares, a decline of 51.3% from the December 15th total of 113,363 shares. Based on an average daily trading volume, of 86,254 shares, the days-to-cover ratio is currently 0.6 days. Approximately 6.5% of the company’s stock are sold short. Approximately 6.5% of the company’s stock are sold short. Based on an average daily trading volume, of 86,254 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Trading of Beasley Broadcast Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Osaic Holdings Inc. bought a new position in Beasley Broadcast Group in the second quarter valued at approximately $83,000. Susquehanna International Group LLP acquired a new stake in shares of Beasley Broadcast Group in the 3rd quarter valued at approximately $85,000. Finally, Gamco Investors INC. ET AL grew its stake in shares of Beasley Broadcast Group by 22.3% in the third quarter. Gamco Investors INC. ET AL now owns 56,154 shares of the company’s stock valued at $296,000 after buying an additional 10,238 shares in the last quarter. Institutional investors own 21.73% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beasley Broadcast Group in a research report on Monday, December 22nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Beasley Broadcast Group presently has an average rating of “Sell”.

Beasley Broadcast Group Price Performance

NASDAQ BBGI opened at $6.03 on Friday. The firm’s 50 day moving average is $5.06 and its 200-day moving average is $4.97. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.68. The company has a market capitalization of $10.85 million, a PE ratio of -1.27 and a beta of 0.24. Beasley Broadcast Group has a 12-month low of $3.67 and a 12-month high of $26.37.

Beasley Broadcast Group (NASDAQ:BBGI) last announced its earnings results on Monday, November 10th. The company reported ($1.97) EPS for the quarter. Beasley Broadcast Group had a negative return on equity of 2.59% and a negative net margin of 3.84%.The business had revenue of $50.98 million for the quarter.

About Beasley Broadcast Group

Beasley Broadcast Group, Inc is a diversified media company primarily engaged in the ownership, operation and licensing of radio broadcast stations across the United States. Headquartered in Naples, Florida, the company provides local and regional audiences with a mix of music, news, talk and sports programming designed to serve diverse demographic markets. Through its portfolio of stations, Beasley generates advertising revenues by offering on-air spots, sponsorships and promotional partnerships to national and local advertisers.

In addition to traditional over-the-air programming, Beasley Broadcast Group offers digital services that include live audio streaming, podcast production, mobile apps and website content for many of its radio brands.