NJ State Employees Deferred Compensation Plan Acquires New Position in Beasley Broadcast Group Inc (BBGI)

NJ State Employees Deferred Compensation Plan bought a new position in Beasley Broadcast Group Inc (NASDAQ:BBGI) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 15,000 shares of the company’s stock, valued at approximately $104,000. NJ State Employees Deferred Compensation Plan owned approximately 0.05% of Beasley Broadcast Group at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its position in shares of Beasley Broadcast Group by 3.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 474,338 shares of the company’s stock worth $5,360,000 after acquiring an additional 14,093 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Beasley Broadcast Group by 4.9% in the 2nd quarter. Renaissance Technologies LLC now owns 191,000 shares of the company’s stock worth $2,139,000 after acquiring an additional 8,900 shares in the last quarter. Finally, Hartford Investment Management Co. acquired a new position in shares of Beasley Broadcast Group in the 2nd quarter worth approximately $156,000. Institutional investors own 14.87% of the company’s stock.

In related news, major shareholder Cristina Bordes sold 1,954,748 shares of the business’s stock in a transaction that occurred on Thursday, July 26th. The stock was sold at an average price of $7.05, for a total transaction of $13,780,973.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark S. Fowler acquired 5,000 shares of Beasley Broadcast Group stock in a transaction that occurred on Friday, August 10th. The shares were bought at an average price of $6.95 per share, with a total value of $34,750.00. Following the transaction, the director now directly owns 39,199 shares in the company, valued at $272,433.05. The disclosure for this purchase can be found here. Insiders own 61.60% of the company’s stock.

Several research analysts have recently commented on BBGI shares. BidaskClub lowered Beasley Broadcast Group from a “hold” rating to a “sell” rating in a research report on Thursday, July 19th. Guggenheim initiated coverage on Beasley Broadcast Group in a research report on Wednesday, August 29th. They set a “buy” rating and a $8.50 price objective for the company. Finally, ValuEngine lowered Beasley Broadcast Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th.

NASDAQ:BBGI opened at $6.52 on Friday. Beasley Broadcast Group Inc has a 12-month low of $6.00 and a 12-month high of $14.40. The company has a market cap of $183.74 million, a P/E ratio of 8.46 and a beta of 0.52. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.77.

Beasley Broadcast Group (NASDAQ:BBGI) last released its quarterly earnings data on Friday, August 3rd. The company reported $0.18 earnings per share (EPS) for the quarter. Beasley Broadcast Group had a return on equity of 8.35% and a net margin of 33.09%. The business had revenue of $61.63 million during the quarter.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 5th. Investors of record on Friday, September 28th were given a dividend of $0.05 per share. The ex-dividend date was Thursday, September 27th. This represents a $0.20 dividend on an annualized basis and a yield of 3.07%.

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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Institutional Ownership by Quarter for Beasley Broadcast Group (NASDAQ:BBGI)

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