Shares in Beasley Broadcast Group (BBGI), the Florida-based multi-media 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 speculations 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 from stations opened during the 12 months leading up to the end of the quarter (same-station basis) 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.
