SCHEDULE 13D/A: GAMCO and Affiliates Boost Stake in Beasley Broadcast Group to 9.59%
Schedule 13D Amendment (Beneficial Ownership Update)
Investment firms led by Mario Gabelli's GAMCO Investors and its affiliates have increased their beneficial ownership in Beasley Broadcast Group Inc. to 9.59% of Class A Common Stock, acquiring additional shares for approximately $86,399.
Summary
- The reporting persons, including GAMCO Investors, Gabelli Funds, and Teton Advisors, collectively beneficially own 89,991 shares of Beasley Broadcast Group Inc.'s Class A Common Stock.
- This aggregate ownership represents 9.59% of the 938,690 shares outstanding as reported in the Issuer's most recently filed Form 10-Q for the quarterly period ended September 30, 2024.
- Since the most recent Schedule 13D filing, the reporting persons purchased additional securities totaling approximately $86,399.
- GAMCO Asset Management Inc. holds 61,491 shares (6.55%), Gabelli Funds LLC holds 25,900 shares (2.76%), and Teton Advisors, Inc. holds 2,600 shares (0.28%).
- Funds for these purchases primarily came from investment advisory clients, with GAMCO using approximately $46,608, Gabelli Funds approximately $22,660, and Teton Advisors approximately $17,131.
Sentiment
Score: 6
Explanation: The sentiment is neutral to slightly positive. While it's a routine filing, the increased stake by a notable investment group could be perceived as a vote of confidence, but it does not contain specific positive financial or operational news from the company itself.
Positives
- Increased beneficial ownership by a group of established investment firms, including GAMCO Investors, may signal confidence in Beasley Broadcast Group's future prospects.
- The continued accumulation of shares by these entities could be viewed as a positive indicator by other investors.
Future Outlook
The document is a Schedule 13D amendment primarily focused on changes in beneficial ownership and does not provide forward-looking statements or guidance from the issuer or reporting persons regarding future performance or strategic direction.
Industry Context
This filing indicates continued investment by a prominent investment group in the broadcasting and media sector, suggesting a long-term interest in Beasley Broadcast Group Inc. within the evolving media landscape.
Stakeholder Impact
- Shareholders may view the increased stake by institutional investors as a positive signal, potentially influencing market perception and investor confidence.
- The filing primarily impacts the ownership structure and does not directly detail impacts on employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 2024-11-14 | GAMCO Asset Management Inc. sold 700 shares at $8.1275. |
| 2024-11-19 | GAMCO Asset Management Inc. sold 22 shares at $8.0500. |
| 2024-11-20 | GAMCO Asset Management Inc. sold 778 shares at $8.1500. |
| 2024-11-21 | Teton Advisors, Inc. purchased 900 shares at $8.0000. |
| 2024-11-25 | Teton Advisors, Inc. purchased 134 shares at $8.1500. |
| 2024-11-26 | GAMCO Asset Management Inc. sold 13 shares at $8.8727. |
| 2024-11-29 | GAMCO Asset Management Inc. sold 5 shares at $9.0433. |
| 2024-12-02 | GAMCO Asset Management Inc. sold 50 shares at $8.3582. |
| 2024-12-03 | Gabelli Funds, LLC sold 100 shares at $9.4000. |
| 2024-12-04 | Teton Advisors, Inc. purchased 966 shares at $9.1500. |
| 2024-12-05 | GAMCO Asset Management Inc. purchased 423 shares at $8.3000. |
| 2024-12-09 | Gabelli Funds, LLC purchased 500 shares at $8.7800 (Gabelli Multimedia Trust). |
| 2024-12-09 | GAMCO Asset Management Inc. purchased 500 shares at $8.7800. |
| 2024-12-16 | GAMCO Asset Management Inc. sold 50 shares at $8.7107. |
| 2024-12-18 | Gabelli Funds, LLC purchased 500 shares at $8.9800 (Gabelli Global Mini Mites Fund). |
| 2024-12-23 | Gabelli Funds, LLC purchased 1,600 shares at $9.2000 (Gabelli Small Cap Growth Fund). |
| 2024-12-24 | GAMCO Asset Management Inc. purchased 2,000 shares at $8.5500. |
| 2024-12-24 | GAMCO Asset Management Inc. purchased 1,500 shares at $8.7287. |
| 2024-12-27 | GAMCO Asset Management Inc. purchased 500 shares at $8.4000. |
| 2024-12-30 | GAMCO Asset Management Inc. purchased 75 shares at $8.2000. |
| 2025-01-06 | Date of event which requires filing of this statement. |
| 2025-01-06 | GAMCO Asset Management Inc. purchased 1,800 shares at $9.4000. |
| 2025-01-07 | Date of filing of this statement. |
Recommendation
holdKeywords
Beasley Broadcast Group, SEC filing, Schedule 13D, GAMCO Investors, Gabelli Funds, Teton Advisors, beneficial ownership, Class A Common Stock, media, broadcasting, investment, shareholding
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