GAMCO Investors Amends Beasley Broadcast Filing

TL;DR

GAMCO Investors just updated their stake in Beasley Broadcast Group (BBGI) - filing #53 is live.

AI Summary

GAMCO Investors, Inc. has filed an amendment (No. 53) to its Schedule 13D regarding Beasley Broadcast Group, Inc. The filing, dated October 3, 2024, indicates a change in the reporting of beneficial ownership. GAMCO Investors, Inc. is based in Greenwich, CT, and Beasley Broadcast Group, Inc. is headquartered in Naples, FL.

Why It Matters

This filing updates ownership information for Beasley Broadcast Group, which could signal changes in investor strategy or influence.

Risk Assessment

Risk Level: medium — Schedule 13D filings often relate to significant ownership changes or activist investor activity, which can introduce volatility.

Key Players & Entities

• GAMCO Investors, Inc. (company) — Filer of the Schedule 13D/A
• Beasley Broadcast Group, Inc. (company) — Subject company of the Schedule 13D/A
• David Goldman (person) — Contact person for GAMCO Investors, Inc.

FAQ

Key Financial Figures

• $0.001 — (Name of Issuer) Class A Common Stock $0.001 Par Value Per Share (Title of Class of
• $191,014 — sons used an aggregate of approximately $191,014 to purchase the additional Securities r
• $78,797 — CO and Gabelli Funds used approximately $78,797 and $112,217, respectively, of funds th
• $112,217 — li Funds used approximately $78,797 and $112,217, respectively, of funds that were provi

Filing Documents

• bbgi_53.htm (SC 13D/A) — 169KB
• 0000807249-24-000131.txt ( ) — 171KB

Security and Issuer

Item 1. Security and Issuer This Amendment No. 53 to Schedule 13D on the Class A Common Stock of Beasley Broadcast Group, Inc. (the "Issuer") is being filed on behalf of the undersigned to amend the Schedule 13D, as amended (the "Schedule 13D") which was originally filed on August 22, 2002. Unless otherwise indicated, all capitalized terms used herein but not defined herein shall have the same meanings as set forth in the Schedule 13D.

Identity and Background

Item 2. Identity and Background

to Schedule 13D is amended, in pertinent part, as follows

Item 2 to Schedule 13D is amended, in pertinent part, as follows: This statement is being filed by various entities which except for LICT Corporation ("LICT) and CIBL, Inc. ("CIBL"), engage in various aspects of the securities business, primarily as investment adviser to various institutional and individual clients, including registered investment companies and pension plans, and as general partner or the equivalent of various private investment partnerships or private funds and as a registered broker-dealer. Certain of these entities may also make investments for their own accounts. Mario J. Gabelli ("Mario Gabelli") is deemed to directly or indirectly control these entities through his ownership interest. The foregoing persons in the aggregate often own beneficially more than 5% of a class of equity securities of a particular issuer. Although several of the foregoing persons are treated as institutional investors for purposes of reporting their beneficial ownership on the short-form Schedule 13G, the holdings of those who do not qualify as institutional investors may exceed the 1% threshold presented for filing on Schedule 13G or implementation of their investment philosophy may from time to time require action which could be viewed as not completely passive. In order to avoid any question as to whether their beneficial ownership is being reported on the proper form and in order to provide greater investment flexibility and administrative uniformity, these persons have decided to file their beneficial ownership reports on the more detailed Schedule 13D form rather than on the short-form Schedule 13G and thereby to provide more expansive disclosure than may be necessary. (a), (b) and (c) - This statement is being filed by one or more of the following persons: GGCP, Inc. ("GGCP"), GGCP Holdings LLC ("GGCP Holdings"), GAMCO Investors, Inc. ("GBL"), Associated Capital Group, Inc. ("AC"), Gabelli Funds, LLC ("Gabelli Funds"), GAMCO Asset Management Inc. ("GAMCO"),

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration

to Schedule 13D is amended, in pertinent part, as follows

Item 3 to Schedule 13D is amended, in pertinent part, as follows: The Reporting Persons used an aggregate of approximately $191,014 to purchase the additional Securities reported as beneficially owned in Item 5 since the most recent filing on Schedule 13D. GAMCO and Gabelli Funds used approximately $78,797 and $112,217, respectively, of funds that were provided through the accounts of certain of their investment advisory clients (and, in the case of some of such accounts at GAMCO, may be through borrowings from client margin accounts) in order to purchase the additional Securities for such clients.

Interest In Securities Of The Issuer

Item 5. Interest In Securities Of The Issuer

to Schedule 13D is amended, in pertinent part, as follows

Item 5 to Schedule 13D is amended, in pertinent part, as follows: (a) The aggregate number of Securities to which this Schedule 13D relates is 68,355 shares, representing 9.91% of the 689,830 shares outstanding following the Issuer's reverse stock split. The Reporting Persons beneficially own those Securities as follows: Name Shares of Common Stock % of Class of Common Gabelli Funds 23,000 3.33% GAMCO 42,955 6.23% Teton Advisors 2,400 0.35% Mario Gabelli is deemed to have beneficial ownership of the Securities owned beneficially by each of the foregoing persons. AC, GBL and GGCP are deemed to have beneficial ownership of the Securities owned beneficially by each of the foregoing persons other than Mario Gabelli and the Foundation. (b) Each of the Reporting Persons and Covered Persons has the sole power to vote or direct the vote and sole power to dispose or to direct the disposition of the Securities reported for it, either for its own benefit or for the benefit of its investment clients or its partners, as the case may be, except that (i) GAMCO does not have authority to vote 1,050 of the reported shares, (ii) Gabelli Funds has sole dispositive and voting power with respect to the shares of the Issuer held by the Funds so long as the aggregate voting interest of all joint filers does not exceed 25% of their total voting interest in the Issuer and, in that event, the Proxy Voting Committee of each Fund shall respectively vote that Fund's shares, (iii) at any time, the Proxy Voting Committee of each such Fund may take and exercise in its sole discretion the entire voting power with respect to the shares held by such fund under special circumstances such as regulatory considerations, and (iv) the power of Mario Gabelli, AC, GBL, and GGCP is indirect with respect to Securities beneficially owned directly by other Reporting Persons. (c) Information with respect to all transactions in the Securities which were effected during the past sixty days or sinc