Beasley Broadcast Group, Inc. (NASDAQ:BBGI) Short Interest Down 11.3% in October

Beasley Broadcast Group, Inc. (NASDAQ:BBGI) was the recipient of a large decline in short interest in October. As of October 15th, there was short interest totalling 24,300 shares, a decline of 11.3% from the September 30th total of 27,400 shares. Currently, 5.2% of the company’s stock are sold short. Based on an average daily volume of 6,500 shares, the days-to-cover ratio is currently 3.7 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Beasley Broadcast Group stock. Mount Yale Investment Advisors LLC bought a new position in shares of Beasley Broadcast Group, Inc. (NASDAQ:BBGI) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 44,000 shares of the company’s stock, valued at approximately $34,000. Mount Yale Investment Advisors LLC owned approximately 0.15% of Beasley Broadcast Group as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 21.73% of the company’s stock.

Beasley Broadcast Group Stock Down 3.7 %

NASDAQ:BBGI traded down $0.49 during mid-day trading on Thursday, hitting $12.71. The stock had a trading volume of 11,603 shares, compared to its average volume of 2,838. Beasley Broadcast Group has a twelve month low of $8.45 and a twelve month high of $20.00. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 1.78. The stock has a market cap of $385.67 million, a price-to-earnings ratio of -5.09 and a beta of 0.99.

Beasley Broadcast Group (NASDAQ:BBGI) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.40. Beasley Broadcast Group had a negative return on equity of 0.96% and a negative net margin of 25.52%. The company had revenue of $60.44 million during the quarter, compared to the consensus estimate of $60.80 million. During the same period in the previous year, the business earned ($1.60) EPS. As a group, equities research analysts predict that Beasley Broadcast Group will post -1.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Beasley Broadcast Group in a research report on Friday, October 25th. They issued a “hold” rating on the stock.

Beasley Broadcast Group Company Profile

Beasley Broadcast Group, Inc, a multi-platform media company, owns and operates radio stations in the United States. The company offers local and national advertisers integrated marketing solutions across audio, digital, and event platforms. It operates Houston Outlaws, an esports team that competes in the Overwatch League; and an esports team that competes in the Rocket League.