Beasley Broadcast Group (NASDAQ:BBGI) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Beasley Broadcast Group, Inc. (NASDAQ:BBGI)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.00 and traded as high as $7.98. Beasley Broadcast Group shares last traded at $7.80, with a volume of 1,360 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Beasley Broadcast Group in a research report on Friday. They issued a “hold” rating on the stock.

Beasley Broadcast Group Trading Up 4.2 %

The stock has a 50 day moving average of $8.63. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The firm has a market capitalization of $12.51 million, a price-to-earnings ratio of 4.87 and a beta of 0.86.

Hedge Funds Weigh In On Beasley Broadcast Group

A number of institutional investors have recently added to or reduced their stakes in the company. Gamco Investors INC. ET AL increased its holdings in Beasley Broadcast Group by 60.7% during the fourth quarter. Gamco Investors INC. ET AL now owns 59,691 shares of the company’s stock worth $562,000 after buying an additional 22,536 shares during the last quarter. Gabelli Funds LLC boosted its position in Beasley Broadcast Group by 12.6% during the fourth quarter. Gabelli Funds LLC now owns 25,900 shares of the company’s stock worth $244,000 after purchasing an additional 2,900 shares during the period. Finally, Geode Capital Management LLC boosted its position in Beasley Broadcast Group by 25.7% during the fourth quarter. Geode Capital Management LLC now owns 20,733 shares of the company’s stock worth $192,000 after purchasing an additional 4,240 shares during the period. 21.73% of the stock is currently owned by institutional investors and hedge funds.

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.