Beasley Broadcast Group Inc (NASDAQ:BBGI) Short Interest Down 30.7% in October

Beasley Broadcast Group Inc (NASDAQ:BBGI) saw a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 21,900 shares, a decrease of 30.7% from the September 30th total of 31,600 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average daily volume of 24,800 shares, the short-interest ratio is presently 0.9 days.

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

Large investors have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Beasley Broadcast Group during the 2nd quarter worth $89,000. Paloma Partners Management Co acquired a new stake in shares of Beasley Broadcast Group in the 2nd quarter worth $114,000. Royal Bank of Canada lifted its stake in shares of Beasley Broadcast Group by 20,530.0% in the 2nd quarter. Royal Bank of Canada now owns 41,260 shares of the company’s stock worth $133,000 after acquiring an additional 41,060 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Beasley Broadcast Group by 92.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 66,207 shares of the company’s stock worth $213,000 after acquiring an additional 31,837 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of Beasley Broadcast Group by 27.3% in the 2nd quarter. Renaissance Technologies LLC now owns 315,500 shares of the company’s stock worth $1,016,000 after acquiring an additional 67,700 shares during the period. Hedge funds and other institutional investors own 19.13% of the company’s stock.

Shares of Beasley Broadcast Group stock opened at $2.93 on Thursday. The company has a fifty day simple moving average of $2.94 and a 200-day simple moving average of $3.20. Beasley Broadcast Group has a 12-month low of $2.80 and a 12-month high of $6.02. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.98. The stock has a market cap of $81.67 million, a price-to-earnings ratio of 11.27 and a beta of 1.08.

Beasley Broadcast Group (NASDAQ:BBGI) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.01). The business had revenue of $66.12 million for the quarter. Beasley Broadcast Group had a return on equity of 2.61% and a net margin of 4.06%.

Beasley Broadcast Group Company Profile

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.

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