BidaskClub Upgrades Beasley Broadcast Group (BBGI) to “Buy”

BidaskClub upgraded shares of Beasley Broadcast Group (NASDAQ:BBGI) from a hold rating to a buy rating in a research report report published on Thursday morning.

Beasley Broadcast Group (NASDAQ BBGI) opened at $12.90 on Thursday. The stock has a market capitalization of $371.34, a P/E ratio of 13.44 and a beta of 0.77. The company has a quick ratio of 3.18, a current ratio of 3.18 and a debt-to-equity ratio of 0.95. Beasley Broadcast Group has a twelve month low of $5.70 and a twelve month high of $18.19.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 29th will be issued a $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend is Thursday, December 28th. Beasley Broadcast Group’s payout ratio is currently 8.18%.

Several large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its holdings in shares of Beasley Broadcast Group by 2.2% in the third quarter. Dimensional Fund Advisors LP now owns 442,771 shares of the company’s stock valued at $5,180,000 after purchasing an additional 9,723 shares during the period. Vanguard Group Inc. grew its holdings in Beasley Broadcast Group by 7.1% during the second quarter. Vanguard Group Inc. now owns 122,479 shares of the company’s stock worth $1,200,000 after acquiring an additional 8,146 shares during the period. Northern Trust Corp grew its holdings in Beasley Broadcast Group by 302.9% during the second quarter. Northern Trust Corp now owns 56,422 shares of the company’s stock worth $552,000 after acquiring an additional 42,419 shares during the period. State Street Corp acquired a new position in Beasley Broadcast Group during the second quarter worth $416,000. Finally, Municipal Employees Retirement System of Michigan acquired a new position in Beasley Broadcast Group during the second quarter worth $374,000. 14.68% of the stock is currently owned by institutional investors and hedge funds.

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Beasley Broadcast Group Company Profile

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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