Beasley Broadcast Group, Inc. (NASDAQ:BBGI) released its earnings results on Monday, July 31st. The company reported $0.06 earnings per share for the quarter, Morningstar.com reports. Beasley Broadcast Group had a return on equity of 11.35% and a net margin of 27.83%. The company had revenue of $61.01 million during the quarter.
Beasley Broadcast Group (BBGI) opened at 9.00 on Friday. Beasley Broadcast Group has a 52-week low of $4.75 and a 52-week high of $18.19. The firm’s 50-day moving average price is $10.15 and its 200-day moving average price is $10.40. The company has a market cap of $259.09 million, a price-to-earnings ratio of 4.35 and a beta of 0.71.
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Hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in shares of Beasley Broadcast Group by 3.4% in the second quarter. Dimensional Fund Advisors LP now owns 433,048 shares of the company’s stock valued at $4,244,000 after buying an additional 14,339 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Beasley Broadcast Group by 7.1% in the second quarter. Vanguard Group Inc. now owns 122,479 shares of the company’s stock valued at $1,200,000 after buying an additional 8,146 shares during the last quarter. Northern Trust Corp increased its stake in shares of Beasley Broadcast Group by 302.9% in the second quarter. Northern Trust Corp now owns 56,422 shares of the company’s stock valued at $552,000 after buying an additional 42,419 shares during the last quarter. State Street Corp purchased a new stake in shares of Beasley Broadcast Group during the second quarter valued at about $416,000. Finally, Municipal Employees Retirement System of Michigan purchased a new stake in shares of Beasley Broadcast Group during the second quarter valued at about $374,000. 12.90% of the stock is owned by institutional investors and hedge funds.
About Beasley Broadcast Group
Beasley Broadcast Group, Inc is a radio broadcasting company. The Company’s primary business is operating radio stations throughout the United States. As of December 31, 2016, the Company owned and operated 63 radio stations in various radio markets, Atlanta and Augusta in Georgia; Boston, Massachusetts; Charlotte, North Carolina; Detroit, Michigan; Fayetteville, North Carolina; Fort Myers-Naples, Florida; Las Vegas, Nevada; Middlesex, New Jersey; Monmouth, New Jersey; Morristown, New Jersey; Philadelphia, Pennsylvania; Tampa-Saint Petersburg, Florida; West Palm Beach-Boca Raton, Florida, and Wilmington, Delaware.
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