Beasley Broadcast Group (NASDAQ:BBGI) Releases Earnings Results, Misses Expectations By $2.77 EPS

Beasley Broadcast Group (NASDAQ:BBGI) posted its quarterly earnings data on Wednesday. The company reported ($4.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.32) by ($2.77), Zacks reports. Beasley Broadcast Group had a negative net margin of 95.51% and a negative return on equity of 27.43%.

Beasley Broadcast Group Price Performance

Shares of Beasley Broadcast Group stock traded down $0.56 during trading hours on Wednesday, hitting $21.73. The company had a trading volume of 32,478 shares, compared to its average volume of 551,496. The company’s 50-day moving average is $22.52 and its two-hundred day moving average is $13.88. Beasley Broadcast Group has a twelve month low of $3.14 and a twelve month high of $29.30. The company has a market cap of $39.33 million, a P/E ratio of -0.21 and a beta of 4.41.

Institutional Investors Weigh In On Beasley Broadcast Group

A number of institutional investors and hedge funds have recently bought and sold shares of BBGI. HRT Financial LP acquired a new position in Beasley Broadcast Group in the fourth quarter valued at $129,000. Susquehanna International Group LLP acquired a new stake in shares of Beasley Broadcast Group during the third quarter worth about $85,000. Gamco Investors INC. ET AL increased its position in shares of 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 worth $296,000 after purchasing an additional 10,238 shares in the last quarter. Finally, Osaic Holdings Inc. acquired a new stake in shares of Beasley Broadcast Group during the second quarter worth about $83,000. 21.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BBGI shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beasley Broadcast Group in a research report on Wednesday, July 8th. Wall Street Zen upgraded shares of Beasley Broadcast Group to a “hold” rating in a report on Saturday, May 23rd. Zacks Research upgraded shares of Beasley Broadcast Group to a “hold” rating in a report on Tuesday, July 28th. Finally, Noble Financial raised shares of Beasley Broadcast Group to a “strong-buy” rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold”.

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.