Did word leak out to investors in Beasley Broadcast Group stock on Thursday afternoon that the radio station owner will report positive Q2 2018 earnings results on Friday morning?
A bump in its stock price began at 2pm Eastern, allowing Beasley shares to post a much-needed 7.2% gain.
At the closing bell, BBGI was at $6.70 on volume of 87,235 shares.
Average volume for Beasley is 46,428 shares.
It’s been a disastrous month for Beasley’s stock, which was at $11.85 on July 10 and $10.80 on July 19, when a steep swoon began as investors reacted to the sale of a chunk of stock held by the Bordes family as compensation for selling Greater Media’s assets to Beasley.
Wednesday’s $6.25 close was the lowest for Beasley since December 2016
In other activity on Wall Street:
- CBS Corp. shares improved 17 cents to $52.72, but were down 27 cents to $52.45 in immediate after-hours trading. Why? Q2 operating income fell, but its net income and net revenue were up.
- Entercom finished at $7.10, down 25 cents.
- Nielsen shares sit at $22.60 in immediate after-hours trading, following a 3.8% drop in share to a new 10-year low.
