Beasley Broadcast Group, Inc. (NASDAQ:BBGI) Sees Significant Increase in Short Interest

Beasley Broadcast Group, Inc. (NASDAQ:BBGI) was the target of a large growth in short interest during the month of January. As of January 30th, there was short interest totaling 101,751 shares, a growth of 146.7% from the January 15th total of 41,241 shares. Approximately 11.9% of the shares of the stock are sold short. Based on an average trading volume of 246,763 shares, the days-to-cover ratio is presently 0.4 days. Based on an average trading volume of 246,763 shares, the days-to-cover ratio is presently 0.4 days. Approximately 11.9% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Susquehanna International Group LLP purchased a new stake in shares of Beasley Broadcast Group in the 3rd quarter valued at $85,000. Osaic Holdings Inc. bought a new stake in Beasley Broadcast Group in the second quarter worth $83,000. Finally, Gamco Investors INC. ET AL boosted its position in Beasley Broadcast Group by 22.3% during 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 during the period. 21.73% of the stock is owned by hedge funds and other institutional investors.

Beasley Broadcast Group Stock Down 4.7%

BBGI opened at $4.08 on Thursday. The business’s fifty day simple moving average is $5.39 and its 200 day simple moving average is $5.09. Beasley Broadcast Group has a 52 week low of $3.67 and a 52 week high of $26.37. 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 stock has a market cap of $7.34 million, a PE ratio of -0.86 and a beta of 0.33.

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

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.