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Beasley Broadcast Group (NASDAQ:BBGI), currently trading at $6.18 and operating with a significant debt burden of $280 million, announced Thursday that Chief Financial Officer Lauren Burrows Coleman has resigned, effective October 17, to pursue other opportunities. According to InvestingPro analysis, the company is currently undervalued based on its Fair Value assessment, though it faces challenges with rapid cash burn and weak profit margins. The company stated in a press release that Coleman’s resignation was not due to any disagreement regarding company operations, policies, or practices.
Following Coleman’s departure, Chief Executive Officer Caroline Beasley will assume the role of principal financial officer on an interim basis. Shaun Greening, currently Vice President of Financial Reporting, will take on the position of principal accounting officer, both effective October 17. The management change comes as the company’s stock has shown strong momentum, with a 13.8% return over the past six months, despite a challenging year-to-date performance of -36.27%. For deeper insights into BBGI’s management effectiveness and financial health metrics, InvestingPro subscribers have access to comprehensive analysis and 11 additional ProTips.
Greening, age 62, has served as Vice President of Financial Reporting since joining Beasley Broadcast Group in February 2000. He previously worked as an Audit Manager for KPMG in Tampa, Florida, and holds a CPA license in Florida.
Caroline Beasley, age 63, has been the company’s Chief Executive Officer since January 1, 2017. She previously served as interim CEO and as Executive Vice President, Chief Financial Officer, Treasurer, and Secretary beginning in 1994.
The company also disclosed related party transactions involving members of the Beasley family. With a current market capitalization of just $11.18 million and trading at a remarkably low Price/Book ratio of 0.08, Beasley Broadcast Group leases its principal executive offices in Naples, Florida, and other office and tower spaces in various locations from entities controlled by family trusts benefiting Caroline Beasley and other family members. InvestingPro’s detailed Research Report, available for over 1,400 US stocks, provides comprehensive analysis of such governance matters and their impact on company valuation. Rental expenses for these agreements totaled approximately $0.8 million for the year ended December 31, 2024. The company also sold transmitter equipment to a family-affiliated entity for $0.1 million and issued 56,864 shares of Class A Common Stock to Beasley Family Towers, LLC at $12.31 per share in October 2024, generating $700,000 in gross proceeds.
Additionally, Ilana Goldstein, daughter of Caroline Beasley, is employed by the company and received $148,385 in 2024, including base salary and performance-based bonuses.
This information is based on a statement issued in a recent SEC filing.
In other recent news, Beasley Broadcast Group reported a challenging second quarter of 2025, with an 11.1% decline in total net revenue on a same-station basis. Despite the overall revenue drop, the company saw an 8.1% increase in digital revenue. Beasley Broadcast Group has taken significant cost-cutting measures in response to these financial results. Analyst firms have not provided any recent upgrades or downgrades for the company. These developments come amidst mixed market sentiments reflected in the company’s stock performance.
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