Shares in Beasley Broadcast Group (BBGI), the Florida-based multimedia company, surged by 312.10% on Wednesday to reach $16.69.
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While the cause of the latest rally remains unclear, the move could be investors’ reaction to recent speculation of a possible merger and efforts by the company to improve its finances.
Although the rally later pulled back by over 35% as of early Thursday, the move still represents a big rally for the stock, which has traded mostly between just over $3 and under $7 since October.
The stock’s biggest rally before now was its approximately 22% jump to $6.69 per share on October 22. It also saw another one on December 5, with BBGI stock jumping by about 17% to $4.60.
Beasley Broadcast Group Eyes Digital Growth
Beasley Broadcast Group’s primary business is running radio stations throughout the United States. The company released its third-quarter fiscal year 2025 earnings results on November 10, showing improvement in its digital revenue and cost base.
During the quarter, the media company’s digital revenue based on a same-station basis, or from stations opened during the 12 months leading up to the end of the quarter, grew 28% from a year ago.
This accounted for 25% of the company’s revenue. The media business also achieved an 8% reduction in its operating expenditure.
However, while CEO Caroline Beasley emphasized that the firm is keeping strategic focus on its digital growth, the company’s overall revenue fell by 11% to $51 million on a same-station basis.
Is BBGI a Good Buy?
TipRanks’ AI analysts largely hold Neutral ratings on Beasley Broadcast Group’s shares, followed by Underperform ratings.
For instance, Gemini-2.5 Pro’s Neutral rating comes with a score of 45 out of 100 and an average BBGI price target of $4.50.
This implies over 73% downside risk from current trading levels. The analyst points to overall revenue decline and high financial leverage for the rating.
