Wolfe Research started coverage on shares of Beasley Broadcast Group (NASDAQ:BBGI) in a research note issued to investors on Friday, The Fly reports. The brokerage issued a market perform rating on the stock.

Other analysts have also recently issued research reports about the stock. Guggenheim initiated coverage on shares of Beasley Broadcast Group in a research note on Wednesday, August 29th. They issued a buy rating and a $8.50 price target for the company. TheStreet cut shares of Beasley Broadcast Group from a b- rating to a c+ rating in a research note on Monday, December 3rd. Two analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $8.50.

Beasley Broadcast Group stock traded up $0.02 during mid-day trading on Friday, reaching $4.78. The company’s stock had a trading volume of 24,247 shares, compared to its average volume of 26,328. The company has a market cap of $130.82 million, a P/E ratio of 7.10 and a beta of 0.47. Beasley Broadcast Group has a 12 month low of $4.61 and a 12 month high of $14.40. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.89.

Beasley Broadcast Group (NASDAQ:BBGI) last announced its quarterly earnings results on Friday, November 2nd. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.14). The firm had revenue of $65.15 million during the quarter. Beasley Broadcast Group had a net margin of 30.80% and a return on equity of 6.67%.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 8th. Shareholders of record on Monday, December 31st will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date is Friday, December 28th.

Hedge funds have recently made changes to their positions in the business. Granite Point Capital Management L.P. acquired a new stake in Beasley Broadcast Group in the third quarter valued at $3,105,000. Gabelli Funds LLC lifted its stake in shares of Beasley Broadcast Group by 40.9% during the 3rd quarter. Gabelli Funds LLC now owns 349,500 shares of the company’s stock worth $2,412,000 after buying an additional 101,500 shares during the last quarter. Teton Advisors Inc. lifted its stake in shares of Beasley Broadcast Group by 18.1% during the 3rd quarter. Teton Advisors Inc. now owns 850,000 shares of the company’s stock worth $5,865,000 after buying an additional 130,000 shares during the last quarter. NJ State Employees Deferred Compensation Plan acquired a new stake in shares of Beasley Broadcast Group during the 3rd quarter worth about $104,000. Finally, FCA Corp TX acquired a new stake in shares of Beasley Broadcast Group during the 3rd quarter worth about $152,000. Hedge funds and other institutional investors own 22.85% of the company’s stock.

About Beasley Broadcast Group

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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