Beasley Broadcast Group Stock Set to Reverse Split on Tuesday, September 24th (NASDAQ:BBGI)

Shares of Beasley Broadcast Group, Inc. (NASDAQ:BBGI) are going to reverse split before the market opens on Tuesday, September 24th. The 1-20 reverse split was announced on Thursday, September 19th. The number of shares owned by shareholders will be adjusted after the market closes on Monday, September 23rd.

Beasley Broadcast Group Stock Down 6.6 %

Beasley Broadcast Group stock opened at $0.49 on Friday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.77 and a current ratio of 1.77. The firm has a 50 day moving average price of $0.61 and a 200 day moving average price of $0.68. Beasley Broadcast Group has a fifty-two week low of $0.42 and a fifty-two week high of $1.00. The company has a market capitalization of $14.75 million, a PE ratio of -0.20 and a beta of 1.00.

Beasley Broadcast Group (NASDAQ:BBGI) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. Beasley Broadcast Group had a negative return on equity of 0.96% and a negative net margin of 25.52%. The business had revenue of $60.44 million during the quarter, compared to analysts’ expectations of $60.80 million. During the same period in the previous year, the firm posted ($0.08) earnings per share. Research analysts expect that Beasley Broadcast Group will post -0.06 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Beasley Broadcast Group in a research note on Sunday, September 15th. They issued a “hold” rating for the company.

Institutional Trading of Beasley Broadcast Group

An institutional investor recently bought a new position in Beasley Broadcast Group stock. Mount Yale Investment Advisors LLC purchased a new position in shares of Beasley Broadcast Group, Inc. (NASDAQ:BBGI) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 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 reporting period. Institutional investors 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.