Fri Sep 20 05:10:49 UTC 2024: ## Beasley Broadcast Group Announces 1-for-20 Reverse Stock Split

**New York, NY (September 20, 2024) -** Beasley Broadcast Group, Inc. (NASDAQ: BBGI) will undergo a 1-for-20 reverse stock split, effective after the market closes on Monday, September 23rd. The split was announced on Thursday, September 19th.

This move comes as the company’s stock price has struggled, with a 52-week low of $0.42 and a current price of $0.52. The reverse split aims to increase the stock price, potentially making it more attractive to investors.

Beasley Broadcast Group is a multi-platform media company that owns and operates radio stations across the United States. The company also has a presence in esports, with teams competing in the Overwatch League and Rocket League.

Despite a recent quarterly earnings beat, Beasley Broadcast Group has faced challenges in recent months, with a negative return on equity and net margin.

However, the company has garnered interest from institutional investors, with Mount Yale Investment Advisors LLC recently acquiring a new stake in Beasley Broadcast Group.

The reverse split is expected to impact shareholders’ holdings, reducing the number of shares they own but increasing their value. The company’s stock price will be adjusted accordingly on Tuesday, September 24th.

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