Beasley Broadcast Group Inc (NASDAQ:BBGI) was the recipient 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. Approximately 0.9% of the shares of the company are sold short. Based on an average daily trading volume, of 52,500 shares, the days-to-cover ratio is currently 1.2 days.
In other news, Chairman George G. Beasley acquired 6,750 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were purchased at an average cost of $3.80 per share, with a total value of $25,650.00. Following the acquisition, the chairman now directly owns 10,900 shares in the company, valued at approximately $41,420. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mark S. Fowler acquired 8,700 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was purchased at an average cost of $3.35 per share, for a total transaction of $29,145.00. Following the completion of the acquisition, the director now owns 59,090 shares in the company, valued at $197,951.50. The disclosure for this purchase can be found here. Corporate insiders own 58.65% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in BBGI. BlackRock Inc. grew its holdings in shares of Beasley Broadcast Group by 3.6% during the 4th quarter. BlackRock Inc. now owns 350,181 shares of the company’s stock worth $1,314,000 after purchasing an additional 12,301 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Beasley Broadcast Group by 4.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 499,143 shares of the company’s stock worth $1,872,000 after purchasing an additional 22,713 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Beasley Broadcast Group by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 48,751 shares of the company’s stock worth $182,000 after purchasing an additional 2,461 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Beasley Broadcast Group by 6.0% during the 4th quarter. Bank of America Corp DE now owns 47,172 shares of the company’s stock worth $177,000 after purchasing an additional 2,689 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan acquired a new stake in shares of Beasley Broadcast Group during the 4th quarter worth $229,000. 20.74% of the stock is currently owned by institutional investors.
NASDAQ BBGI traded down $0.01 on Thursday, reaching $3.21. The stock had a trading volume of 200 shares, compared to its average volume of 31,697. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.90 and a current ratio of 1.90. The stock’s fifty day moving average is $3.21. Beasley Broadcast Group has a 1-year low of $3.00 and a 1-year high of $7.90. The stock has a market capitalization of $95.16 million, a P/E ratio of 13.66 and a beta of 1.07.
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 analysts’ consensus estimates of $0.16 by ($0.01). The firm had revenue of $65.66 million during the quarter. Beasley Broadcast Group had a net margin of 3.92% and a return on equity of 2.46%.
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.
Recommended Story: What does it mean to hold a stock in street name?
Receive News & Ratings for Beasley Broadcast Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beasley Broadcast Group and related companies with MarketBeat.com's FREE daily email newsletter.