Shares of Beasley Broadcast Group Inc (NASDAQ:BBGI) have been given a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.
Brokers have set a 12-month consensus target price of $8.50 for the company, according to Zacks. Zacks has also assigned Beasley Broadcast Group an industry rank of 100 out of 255 based on the ratings given to related companies.
A number of brokerages have issued reports on BBGI. Guggenheim began coverage on Beasley Broadcast Group in a report on Wednesday. They set a “buy” rating and a $8.50 price target for the company. BidaskClub downgraded Beasley Broadcast Group from a “buy” rating to a “hold” rating in a report on Saturday, May 12th. Finally, ValuEngine cut Beasley Broadcast Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th.
Shares of NASDAQ BBGI opened at $7.50 on Friday. The stock has a market cap of $189.79 million, a price-to-earnings ratio of 10.30 and a beta of 0.55. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.77. Beasley Broadcast Group has a 1 year low of $6.00 and a 1 year high of $14.40.
Beasley Broadcast Group (NASDAQ:BBGI) last announced its quarterly earnings results on Friday, August 3rd. The company reported $0.18 earnings per share (EPS) for the quarter. The company had revenue of $61.63 million during the quarter. Beasley Broadcast Group had a return on equity of 8.35% and a net margin of 33.09%.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 5th. Stockholders of record on Friday, September 28th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date is Thursday, September 27th.
In other news, Director Mark S. Fowler bought 5,000 shares of the business’s stock in a transaction dated Friday, August 10th. The shares were acquired at an average price of $6.95 per share, for a total transaction of $34,750.00. Following the completion of the transaction, the director now owns 39,199 shares of the company’s stock, valued at $272,433.05. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Stephanie L. Bordes sold 439,425 shares of Beasley Broadcast Group stock in a transaction dated Thursday, July 26th. The stock was sold at an average price of $7.05, for a total value of $3,097,946.25. The disclosure for this sale can be found here. 61.60% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC increased its position in shares of Beasley Broadcast Group by 4.9% during the second quarter. Renaissance Technologies LLC now owns 191,000 shares of the company’s stock worth $2,139,000 after purchasing an additional 8,900 shares in the last quarter. ZPR Investment Management acquired a new stake in shares of Beasley Broadcast Group during the first quarter worth about $138,000. Hartford Investment Management Co. acquired a new stake in shares of Beasley Broadcast Group during the second quarter worth about $156,000. Finally, Dimensional Fund Advisors LP increased its position in Beasley Broadcast Group by 3.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 474,338 shares of the company’s stock valued at $5,360,000 after acquiring an additional 14,093 shares during the period. Institutional investors and hedge funds own 14.87% of the company’s stock.
Beasley Broadcast Group Company Profile
Beasley Broadcast Group, Inc, a radio broadcasting company, operates radio stations in the United States. As of February 12, 2018, it owned and operated 63 stations, including 45 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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