Beasley Broadcast Group (NASDAQ:BBGI) Share Price Passes Above 200-Day Moving Average – Should You Sell?

Beasley Broadcast Group, Inc. (NASDAQ:BBGI) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.00 and traded as high as $7.90. Beasley Broadcast Group shares last traded at $7.90, with a volume of 545 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Beasley Broadcast Group in a research note on Saturday. They issued a “hold” rating on the stock.

Beasley Broadcast Group Stock Performance

The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The stock’s 50 day moving average price is $8.54. The stock has a market capitalization of $12.13 million, a PE ratio of 4.73 and a beta of 0.86.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BBGI. Gamco Investors INC. ET AL increased its stake in Beasley Broadcast Group by 60.7% during the 4th quarter. Gamco Investors INC. ET AL now owns 59,691 shares of the company’s stock valued at $562,000 after buying an additional 22,536 shares during the period. Gabelli Funds LLC raised its holdings 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 in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Beasley Broadcast Group by 25.7% in the fourth quarter. Geode Capital Management LLC now owns 20,733 shares of the company’s stock valued at $192,000 after buying an additional 4,240 shares during the period. Institutional investors and hedge funds own 21.73% of the company’s stock.

Beasley Broadcast Group Company Profile

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.