Beasley Shares Recover; Emmis, Scripps Soar


U.S. financial markets started the week off on a positive note, as the Dow Jones Industrial Average gained 94.81 points, to 24,357.32. Nasdaq was up 55.60, to 7,265.21.

While some companies started Monday’s trading session off on a sour note, the overall positive vibes spread over to companies such as Beasley Broadcast Group by midday trading. As a result, the radio industry pure-play stemmed its losses after reporting Q1 results that were out of favor with investors.

At the Closing Bell, Beasley shares were off 4.7%, to $11.20, after falling as low as $10.01 in the first moment’s of the day’s trading.

Volume was small, however, at 4,149 shares compared to average volume of 14,311 shares. This suggests that an institutional sell was at play.

Beasley shares have largely been between just under $10 and just below $14 since the start of 2018.

Meanwhile, Emmis shares finished ahead 10.1%, to $5.14, for the company’s best close in some 2 1/2 years. The company will release its Q4 and full-year 2018 earnings results on Thursday morning.

Lastly, The E.W. Scripps Co. — which beat earnings estimates with its Q1 results — saw its stock soar 10.5%, to $12.37, at the Closing Bell.


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