ValuEngine upgraded shares of Beasley Broadcast Group (NASDAQ:BBGI) from a sell rating to a hold rating in a report released on Thursday, ValuEngine reports.
Shares of NASDAQ BBGI traded down $0.06 during trading hours on Thursday, hitting $3.15. 38,982 shares of the company’s stock were exchanged, compared to its average volume of 23,031. Beasley Broadcast Group has a 1-year low of $3.00 and a 1-year high of $7.90. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.02 and a quick ratio of 2.02. The stock has a market cap of $89.45 million, a PE ratio of 11.46 and a beta of 1.07. The firm has a 50-day moving average of $3.16.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Friday, June 28th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $0.20 annualized dividend and a dividend yield of 6.35%.
In other Beasley Broadcast Group news, Chairman George G. Beasley acquired 6,750 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was acquired at an average price of $3.80 per share, with a total value of $25,650.00. Following the transaction, the chairman now owns 10,900 shares of the company’s stock, valued at $41,420. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark S. Fowler acquired 8,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were acquired at an average cost of $3.85 per share, with a total value of $32,725.00. Following the transaction, the director now directly owns 43,390 shares in the company, valued at approximately $167,051.50. The disclosure for this purchase can be found here. Insiders have purchased a total of 20,250 shares of company stock valued at $77,125 in the last three months. 58.65% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Gamco Investors INC. ET AL raised its holdings in Beasley Broadcast Group by 4.7% in the 1st quarter. Gamco Investors INC. ET AL now owns 1,126,693 shares of the company’s stock valued at $4,484,000 after acquiring an additional 51,025 shares in the last quarter. Teton Advisors Inc. raised its holdings in Beasley Broadcast Group by 4.3% in the 2nd quarter. Teton Advisors Inc. now owns 897,000 shares of the company’s stock valued at $2,888,000 after acquiring an additional 37,000 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Beasley Broadcast Group by 4.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 499,143 shares of the company’s stock valued at $1,872,000 after acquiring an additional 22,713 shares in the last quarter. Gabelli Funds LLC raised its holdings in Beasley Broadcast Group by 14.1% in the 1st quarter. Gabelli Funds LLC now owns 401,949 shares of the company’s stock valued at $1,600,000 after acquiring an additional 49,649 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in Beasley Broadcast Group by 3.6% in the 4th quarter. BlackRock Inc. now owns 350,181 shares of the company’s stock valued at $1,314,000 after acquiring an additional 12,301 shares in the last quarter. 21.80% of the stock is owned by institutional investors and hedge funds.
About Beasley Broadcast Group
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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