The stock of Beasley Broadcast Group Inc (NASDAQ:BBGI) hit a new 52-week high and has $6.49 target or 9.00% above today’s $5.95 share price. The 7 months bullish chart indicates low risk for the $169.65M company. The 1-year high was reported on Nov, 25 by Barchart.com. If the $6.49 price target is reached, the company will be worth $15.27 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 9.17% or $0.5 on November 25, hitting $5.95. About 13,353 shares traded hands or 239.25% up from the average. Beasley Broadcast Group Inc (NASDAQ:BBGI) has risen 46.51% since April 22, 2016 and is uptrending. It has outperformed by 41.10% the S&P500.
Analysts await Beasley Broadcast Group Inc (NASDAQ:BBGI) to report earnings on February, 10.
According to Zacks Investment Research, “Beasley Broadcast Group is one of the largest radio broadcasting company’s in the United States. The company’s stations are located in large and midsized markets in the eastern United States. The radio stations program a variety of formats, including urban, contemporary hit radio and country, which target the demographic groups in each market that the company considers the most attractive to the advertisers.”
Insitutional Activity: The institutional sentiment is 0.71 in Q2 2016. Its the same as in 2016Q1. The ratio is the same, as 0 funds sold all Beasley Broadcast Group Inc shares owned while 7 reduced positions. only 1 funds bought stakes while 4 increased positions. They now own 3.69 million shares or 0.06% more from 3.69 million shares in 2016Q1.
Vanguard Gru Inc Inc has invested 0% of its portfolio in Beasley Broadcast Group Inc (NASDAQ:BBGI). The Texas-based Dimensional Fund Ltd Partnership has invested 0% in Beasley Broadcast Group Inc (NASDAQ:BBGI). Rbf Capital Ltd Liability Com, a California-based fund reported 32,469 shares. The Massachusetts-based Invsts Cap Advisory Svcs has invested 0.02% in Beasley Broadcast Group Inc (NASDAQ:BBGI). Blackrock Institutional Na holds 0% or 66,738 shares in its portfolio. Bridgeway has 0% invested in the company for 28,125 shares. State Of New Jersey Common Pension Fund D holds 0.01% of its portfolio in Beasley Broadcast Group Inc (NASDAQ:BBGI) for 294,000 shares. The Ontario – Canada-based Manufacturers Life Insurance Co The has invested 0% in Beasley Broadcast Group Inc (NASDAQ:BBGI). Blackrock Fund Advsrs holds 0% or 15,897 shares in its portfolio. Denali Advsrs Lc has 0% invested in the company for 300 shares. Northern has 0% invested in the company for 14,051 shares. Wells Fargo And Mn, a California-based fund reported 20,000 shares. Grt Limited Liability Com, a Massachusetts-based fund reported 14,394 shares. Tower Rech Capital Ltd Liability Corp (Trc) has invested 0% of its portfolio in Beasley Broadcast Group Inc (NASDAQ:BBGI). The New York-based Teton Advisors has invested 0.28% in Beasley Broadcast Group Inc (NASDAQ:BBGI).
Insider Transactions: Since July 25, 2016, the stock had 0 insider buys, and 2 insider sales for $4,560 net activity. $2,248 worth of shares were sold by GAMCO INVESTORS – INC. ET AL on Monday, July 25.
More news for Beasley Broadcast Group Inc (NASDAQ:BBGI) were recently published by: Globenewswire.com, which released: “Beasley Broadcast Group to Acquire Greater Media, Inc.” on July 19, 2016. Quotes.Wsj.com‘s article titled: “DOW JONES, A NEWS CORP COMPANY” and published on February 11, 2011 is yet another important article.
BBGI Company Profile
Beasley Broadcast Group, Inc., incorporated on November 12, 1999, is a radio broadcasting company. The Company’s primary business is operating radio stations throughout the United States. The Firm owns and operates approximately 69 radio stations in over 16 large- and mid-size markets in the United States. The Firm operates in various radio markets, including Atlanta, Georgia; Augusta, Georgia; Boston, Massachusetts; Fayetteville, North Carolina; Fort Myers-Naples, Florida; Greenville-New Bern-Jacksonville, North Carolina; Las Vegas, Nevada; Philadelphia, Pennsylvania; Tampa-Saint Petersburg, Florida; West Palm Beach-Boca Raton, Florida; Wilmington, Delaware; Detroit, Michigan; Middlesex, New Jersey; Charlotte, North Carolina; Monmouth, New Jersey, and Morristown, New Jersey.
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