Beasley Stops Its Stock Dip


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.