Beasley Broadcast Group Inc (NASDAQ:BBGI) Short Interest Down 14.4% in July

Beasley Broadcast Group Inc (NASDAQ:BBGI) was the target of a large decrease in short interest in July. As of July 31st, there was short interest totalling 62,800 shares, a decrease of 14.4% from the June 30th total of 73,400 shares. Based on an average daily volume of 52,500 shares, the days-to-cover ratio is currently 1.2 days. Currently, 0.9% of the company’s shares are sold short.

NASDAQ BBGI traded down $0.09 during trading on Wednesday, hitting $3.20. The company had a trading volume of 305 shares, compared to its average volume of 42,675. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.98. Beasley Broadcast Group has a one year low of $3.00 and a one year high of $7.90. The firm has a market capitalization of $90.84 million, a P/E ratio of 13.80 and a beta of 1.07. The stock has a fifty day simple moving average of $3.21.

Beasley Broadcast Group (NASDAQ:BBGI) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.01). The company had revenue of $65.66 million during the quarter. Beasley Broadcast Group had a return on equity of 2.46% and a net margin of 3.92%.



In related news, Director Mark S. Fowler acquired 8,700 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was acquired at an average cost of $3.35 per share, for a total transaction of $29,145.00. Following the acquisition, the director now owns 59,090 shares of the company’s stock, valued at $197,951.50. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman George G. Beasley acquired 6,750 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was bought at an average price of $3.80 per share, with a total value of $25,650.00. Following the completion of the acquisition, the chairman now directly owns 10,900 shares in the company, valued at approximately $41,420. The disclosure for this purchase can be found here. 58.65% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the stock. Penn Capital Management Co. Inc. increased its stake in shares of Beasley Broadcast Group by 10.6% in the 1st quarter. Penn Capital Management Co. Inc. now owns 188,777 shares of the company’s stock worth $751,000 after acquiring an additional 18,039 shares in the last quarter. Gamco Investors INC. ET AL increased its stake in shares of Beasley Broadcast Group by 4.7% in the 1st quarter. Gamco Investors INC. ET AL now owns 1,126,693 shares of the company’s stock worth $4,484,000 after acquiring an additional 51,025 shares in the last quarter. Teton Advisors Inc. increased its stake in shares of Beasley Broadcast Group by 1.2% in the 1st quarter. Teton Advisors Inc. now owns 860,000 shares of the company’s stock worth $3,423,000 after acquiring an additional 10,000 shares in the last quarter. Gabelli Funds LLC increased its stake in shares of Beasley Broadcast Group by 14.1% in the 1st quarter. Gabelli Funds LLC now owns 401,949 shares of the company’s stock worth $1,600,000 after acquiring an additional 49,649 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Beasley Broadcast Group by 4.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 499,143 shares of the company’s stock worth $1,872,000 after acquiring an additional 22,713 shares in the last quarter. Institutional investors own 20.74% of the company’s stock.

Separately, ValuEngine upgraded shares of Beasley Broadcast Group from a “sell” rating to a “hold” rating in a report on Thursday, August 1st.

About Beasley Broadcast Group

Beasley Broadcast Group, Inc, a radio broadcasting company, operates radio stations in the United States. As of February 11, 2019, it owned and operated 64 stations, including 46 FM and 18 AM stations in 15 large- and mid-size markets. The company was founded in 1961 and is headquartered in Naples, Florida.

Further Reading: Understanding Market Liquidity

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