SCHEDULE 13D/A: Gabelli Funds and Affiliates Reduce Stake in Beasley Broadcast Group to 7.55%

An amendment to Schedule 13D reveals that Gabelli Funds and its affiliated entities have decreased their beneficial ownership in Beasley Broadcast Group Inc. to 7.55% of Class A Common Stock.

Summary

• This filing is Amendment No. 58 to Schedule 13D, reporting changes in beneficial ownership of Class A Common Stock of Beasley Broadcast Group Inc.
• The reporting persons, including Gabelli Funds LLC, GAMCO Asset Management Inc., and Teton Advisors, Inc., collectively beneficially own 72,616 shares of Class A Common Stock.
• This aggregate ownership represents 7.55% of the 961,284 shares outstanding as reported in the Issuer's most recently filed Schedule 13D for the quarterly period ended March 31, 2025.
• Individual beneficial ownership breakdown: GAMCO Asset Management Inc. holds 46,716 shares (4.86%), Gabelli Funds LLC holds 23,800 shares (2.48%), and Teton Advisors, Inc. holds 2,100 shares (0.22%).
• Transactions during the past sixty days or since the last filing indicate a net reduction in shares held by the reporting persons.
• Gabelli Funds, LLC's managed trusts and funds engaged in both purchases and sales, including a net sale of 200 shares from Gabelli Multimedia Trust and a net purchase of 800 shares for Gabelli Global Mini Mites Fund, and a sale of 300 shares from Gabelli Global Small&Midcap Value Trust.
• GAMCO Asset Management Inc. primarily engaged in sales, with a net reduction of 4,000 shares through multiple transactions.

Sentiment

Score: 4

Explanation: The sentiment is slightly negative as a significant investment group has reduced its stake in the company, which could be interpreted as a decrease in conviction or a strategic portfolio adjustment.

Negatives

• The reporting persons, a significant investment group, have reduced their aggregate beneficial ownership in Beasley Broadcast Group Inc., indicating a decrease in their stake.

Future Outlook

NA

Industry Context

This filing pertains to an investment in Beasley Broadcast Group Inc., a company operating within the broadcasting industry. The reduction in stake by a prominent investment group like Gabelli may reflect portfolio rebalancing or a revised outlook on the broadcasting sector, which continues to navigate shifts in media consumption and advertising revenue.

Stakeholder Impact

• Shareholders: The reduction in stake by a notable investment group could potentially influence investor sentiment and the company's share price.

Key Dates

Recommendation

Keywords

Schedule 13D, Beneficial Ownership, Beasley Broadcast Group, GAMCO, Gabelli Funds, Teton Advisors, Class A Common Stock, SEC Filing, Investment Management, Broadcasting Industry