And the hits just keep on comin’ … for Beasley Broadcast Group stockholders, that is.
With Wednesday’s close, the company that now owns Greater Media’s former stations has a stock value last seen 2 1/2 years ago.
On light volume of 23,319 shares (average volume is 41,387 shares), Beasley shares slipped 8 cents to $4.44 on Wednesday.
This furthers a stretch of trading that puts BBGI at levels last seen in June 2016, when it was battling back from a low of $3.47 in January.
It was March 2012 when Beasley shares were last below $4.30, and today’s trading suggested a return to that price could be in the company’s future.
In the final 10 minutes of Wednesday’s trading, BBGI dipped to $4.39 before regaining five important cents.
Beasley carries a 1-year target estimate of $7.
It was mid-July 2018 when that price target could be considered plausible — before a big share decline precipitated by the sale of shares by the Bordes Family connected with their sale of Greater Media to Beasley.
Beasley’s Q4 2018 and full-year earnings report is expected to be released between February 11-15, 2019.