Beasley Broadcast Group shares enjoyed a welcome move in the right direction on Wednesday.
At the Closing Bell, the radio industry pure-play saw its shares finish at its highest level since March 5. Still, with Q1 2018 coming to a close, shares are down — albeit slightly — from where they were on New Year’s Day.
With slightly higher than average volume of 20,058 shares traded on Thursday, BBGI shares finished the day at $11.15.
That’s the highest price seen for Beasley since March 5, and erases a dip to $9.90 seen as recently as March 19.
The jump above $11 is good news for Beasley, which has experienced rather steady trading over the last 12 months but no sure signs of growth.
On Jan. 1 shares peaked at $13.95. But, the receding value isn’t severe, and long-term shareholders will note that Beasley tends to wobble between $14 on the high side and $9 on the low side.
Further, on May 15, 2017 Beasley shares were as low as $8.40.
A five-year review of BBGI paints an even rosier picture, with shares on a strong rise from the $3.50 range that started in March 2016.
OTHER STOCKS TO WATCH:
CBS was off 47 cents to $51.88, while Viacom‘s Class B shares dipped 25 cents, to $30.48.
Urban One shares now sit at $2 each, with Wednesday’s 10-cent drop.
Sinclair Broadcast Group shares fell 50 cents to $31.30.
The tech giants continues to swoon on Wall Street, with Netflix tumbling 5% to $285.77 after a recent run over $300 a share.
