Beasley Broadcast Group Inc (NASDAQ:BBGI) Short Interest Update

Beasley Broadcast Group Inc (NASDAQ:BBGI) was the recipient of a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 266,600 shares, an increase of 34.4% from the April 15th total of 198,400 shares. Based on an average daily volume of 39,400 shares, the short-interest ratio is presently 6.8 days. Currently, 4.6% of the shares of the company are sold short.

Shares of BBGI stock remained flat at $$3.20 during midday trading on Thursday. 5,599 shares of the stock were exchanged, compared to its average volume of 44,957. The company’s fifty day simple moving average is $3.25. Beasley Broadcast Group has a 52 week low of $3.00 and a 52 week high of $12.00. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.02 and a current ratio of 2.02. The firm has a market cap of $87.22 million, a PE ratio of 11.11 and a beta of 1.07.

Beasley Broadcast Group (NASDAQ:BBGI) last posted its quarterly earnings results on Monday, April 29th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.06). Beasley Broadcast Group had a net margin of 4.23% and a return on equity of 2.72%. The company had revenue of $57.69 million for the quarter.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Friday, June 28th were paid a dividend of $0.05 per share. The ex-dividend date was Thursday, June 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 6.25%.

In other news, Director Mark S. Fowler acquired 8,500 shares of Beasley Broadcast Group stock in a transaction that occurred on Tuesday, May 7th. The stock was purchased at an average price of $3.85 per share, for a total transaction of $32,725.00. Following the completion of the transaction, the director now directly owns 43,390 shares in the company, valued at $167,051.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman George G. Beasley acquired 6,750 shares of Beasley Broadcast Group stock in a transaction that occurred on Friday, May 17th. The stock was purchased 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 disclosure for this purchase can be found here. In the last 90 days, insiders purchased 20,250 shares of company stock valued at $77,125. 58.65% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Beasley Broadcast Group by 49.3% during the 3rd quarter. Vanguard Group Inc. now owns 302,784 shares of the company’s stock valued at $2,089,000 after buying an additional 100,045 shares during the last quarter. Rhumbline Advisers bought a new stake in shares of Beasley Broadcast Group during the 4th quarter valued at about $45,000. SG Americas Securities LLC bought a new stake in shares of Beasley Broadcast Group during the 4th quarter valued at about $50,000. BlackRock Inc. grew its position 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 valued at $1,314,000 after buying an additional 12,301 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position 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 valued at $1,872,000 after buying an additional 22,713 shares during 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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