StockNews.com Initiates Coverage on Beasley Broadcast Group (NASDAQ:BBGI)

StockNews.com assumed coverage on shares of Beasley Broadcast Group (NASDAQ:BBGI) in a research report sent to investors on Tuesday morning. The firm issued a hold rating on the stock.

Beasley Broadcast Group Stock Up 2.4 %

Beasley Broadcast Group stock opened at $9.09 on Tuesday. Beasley Broadcast Group has a 52-week low of $7.66 and a 52-week high of $20.00. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. The company’s fifty day simple moving average is $11.06. The stock has a market capitalization of $16.08 million, a P/E ratio of 5.44 and a beta of 0.97.

Beasley Broadcast Group (NASDAQ:BBGI) last announced its earnings results on Tuesday, November 5th. The company reported ($2.33) earnings per share (EPS) for the quarter. The business had revenue of $58.19 million for the quarter, compared to analysts’ expectations of $61.10 million. Beasley Broadcast Group had a net margin of 1.07% and a negative return on equity of 5.12%. During the same quarter in the prior year, the company posted $1.80 earnings per share. On average, equities research analysts anticipate that Beasley Broadcast Group will post -1.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Beasley Broadcast Group

An institutional investor recently bought a new position in Beasley Broadcast Group stock. Mount Yale Investment Advisors LLC purchased a new position in Beasley Broadcast Group, Inc. (NASDAQ:BBGI) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 44,000 shares of the company’s stock, valued at approximately $34,000. Mount Yale Investment Advisors LLC owned about 0.15% of Beasley Broadcast Group as of its most recent SEC filing. 21.73% of the stock is currently owned by institutional investors and hedge funds.

About Beasley Broadcast Group

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.