Beasley Broadcast Group (NASDAQ:BBGI) Stock Rating Upgraded by Zacks Research

Beasley Broadcast Group (NASDAQ:BBGI) was upgraded by research analysts at Zacks Research to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other analysts have also recently issued reports about the stock. Noble Financial raised shares of Beasley Broadcast Group to a “strong-buy” rating in a research note on Tuesday. Wall Street Zen raised Beasley Broadcast Group to a “hold” rating in a research note on Saturday, May 23rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Beasley Broadcast Group in a report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Beasley Broadcast Group Trading Down 6.0%

NASDAQ:BBGI opened at $19.53 on Tuesday. Beasley Broadcast Group has a 12-month low of $3.14 and a 12-month high of $29.30. The firm has a market cap of $35.35 million, a price-to-earnings ratio of -0.18 and a beta of 4.37. The company’s 50-day moving average is $21.29 and its two-hundred day moving average is $12.80.

Beasley Broadcast Group (NASDAQ:BBGI) last issued its quarterly earnings results on Wednesday, May 13th. The company reported $1.77 EPS for the quarter. The business had revenue of $42.59 million during the quarter. Beasley Broadcast Group had a negative net margin of 95.51% and a negative return on equity of 27.43%. On average, equities research analysts forecast that Beasley Broadcast Group will post 2.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Osaic Holdings Inc. purchased a new stake in Beasley Broadcast Group in the second quarter valued at approximately $83,000. Susquehanna International Group LLP purchased a new position in Beasley Broadcast Group during the third quarter worth approximately $85,000. HRT Financial LP purchased a new position in Beasley Broadcast Group during the fourth quarter worth approximately $129,000. Finally, Gamco Investors INC. ET AL raised its stake in Beasley Broadcast Group by 9.5% during the first quarter. Gamco Investors INC. ET AL now owns 63,399 shares of the company’s stock worth $212,000 after purchasing an additional 5,475 shares during the period. 21.73% of the stock is currently owned by hedge funds and other institutional investors.

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.