Beasley Broadcast Group, Inc. (NASDAQ:BBGI – Get Free Report) was the target of a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 27,400 shares, an increase of 230.1% from the September 15th total of 8,300 shares. Approximately 5.8% of the company’s shares are short sold. Based on an average daily volume of 5,300 shares, the days-to-cover ratio is presently 5.2 days.
Wall Street Analyst Weigh In
Separately, StockNews.com initiated coverage on shares of Beasley Broadcast Group in a research report on Wednesday. They set a “hold” rating on the stock.
Get Our Latest Stock Analysis on Beasley Broadcast Group
Beasley Broadcast Group Price Performance
Beasley Broadcast Group (NASDAQ:BBGI – Get Free Report) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. The business had revenue of $60.44 million for the quarter, compared to the consensus estimate of $60.80 million. Beasley Broadcast Group had a negative net margin of 25.52% and a negative return on equity of 0.96%. During the same period in the previous year, the firm earned ($0.08) EPS. On average, equities analysts expect that Beasley Broadcast Group will post -0.06 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Beasley Broadcast Group
A hedge fund recently bought a new stake in Beasley Broadcast Group stock. Mount Yale Investment Advisors LLC acquired a new position in shares of Beasley Broadcast Group, Inc. (NASDAQ:BBGI – Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 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 at the end of the most recent reporting period. Institutional investors own 21.73% of the company’s stock.
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.
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