Beasley Begins The Week On A Sour Note


Beasley Broadcast Group was the first of the publicly traded radio broadcasting companies to share their Q3 2017 earnings results (except for Emmis, which follows a different fiscal year). Beasley’s Q3 was largely positive. Yet, investors are in a selling mood.

At the Closing Bell on Wall Street, BBGI shares finished Tuesday’s trading down 10%, finishing at $9.45.

That’s a steep drop for Beasley, which was trading above $12 a share until Oct. 18 and hasn’t traded at this level since late August.

There’s no immediately clear explanation for the dip, other than its Q4 forecast: Poor comps will likely make it a tough one for Beasley — and all other broadcast media companies up against political dollar differences and a lack of Olympics ad dollars, with respect to TV companies.

Also down was iHeartMedia. The “stub” of publicly traded stock dipped 6.9%, to $1.35.

On the flip side, Nexstar Media Group is on another growth spurt, finishing up 1.6%, to $63.80 on Tuesday. This brings Nexstar back to its pre-August doldrums.

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