Short Interest in Beasley Broadcast Group, Inc. (NASDAQ:BBGI) Declines By 10.3%

Beasley Broadcast Group, Inc. (NASDAQ:BBGI) saw a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 21,800 shares, a decline of 10.3% from the October 15th total of 24,300 shares. Currently, 4.6% of the shares of the company are sold short. Based on an average daily trading volume, of 6,600 shares, the days-to-cover ratio is currently 3.3 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Beasley Broadcast Group in a report on Monday. They set a “hold” rating for the company.

Hedge Funds 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 Beasley Broadcast Group, Inc. (NASDAQ:BBGI) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 44,000 shares of the company’s stock, valued at approximately $34,000. Mount Yale Investment Advisors LLC owned 0.15% of Beasley Broadcast Group at the end of the most recent quarter. 21.73% of the stock is owned by hedge funds and other institutional investors.

Beasley Broadcast Group Stock Up 0.2 %

NASDAQ:BBGI opened at $8.40 on Monday. Beasley Broadcast Group has a 12 month low of $7.66 and a 12 month high of $20.00. The company has a market capitalization of $14.87 million, a P/E ratio of 5.03 and a beta of 0.97. The company has a current ratio of 1.60, a quick ratio of 1.77 and a debt-to-equity ratio of 1.82.

Beasley Broadcast Group (NASDAQ:BBGI) last issued its earnings results on Tuesday, November 5th. The company reported ($2.33) earnings per share (EPS) for the quarter. Beasley Broadcast Group had a net margin of 1.07% and a negative return on equity of 5.12%. The firm had revenue of $58.19 million during the quarter, compared to the consensus estimate of $61.10 million. During the same quarter in the previous year, the firm earned $1.80 earnings per share. As a group, equities research analysts anticipate that Beasley Broadcast Group will post -1.2 earnings per share for the current year.

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.