Atlanta Braves (NASDAQ:BATRA) Stock Price Up 5% – Still a Buy?

Atlanta Braves Holdings, Inc. (NASDAQ:BATRA) shares traded up 5% during mid-day trading on Friday . The stock traded as high as $48.25 and last traded at $48.65. 66,400 shares were traded during mid-day trading, an increase of 23% from the average session volume of 53,866 shares. The stock had previously closed at $46.32.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Benchmark reiterated a “buy” rating and issued a $60.00 price objective on shares of Atlanta Braves in a research report on Thursday, February 27th. Citigroup assumed coverage on Atlanta Braves in a research report on Friday, June 13th. They issued a “neutral” rating and a $45.00 price objective for the company.

Atlanta Braves Trading Up 5.9%

The company has a market cap of $3.04 billion, a P/E ratio of -140.20 and a beta of 0.57. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.40. The business has a 50-day moving average price of $43.97 and a two-hundred day moving average price of $42.77.

Atlanta Braves (NASDAQ:BATRA) last released its earnings results on Monday, May 12th. The financial services provider reported ($0.66) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.94) by $0.28. The company had revenue of $47.21 million during the quarter, compared to the consensus estimate of $36.87 million. Atlanta Braves had a negative return on equity of 4.07% and a negative net margin of 3.18%. On average, analysts predict that Atlanta Braves Holdings, Inc. will post -0.98 EPS for the current year.

Insider Transactions at Atlanta Braves

In related news, EVP Derek Gordon Schiller sold 72,505 shares of the company’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $43.00, for a total value of $3,117,715.00. Following the completion of the sale, the executive vice president now owns 300,233 shares in the company, valued at approximately $12,910,019. This represents a 19.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Michael P. Plant sold 69,000 shares of the company’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $43.00, for a total value of $2,967,000.00. Following the completion of the sale, the executive vice president now owns 205,593 shares of the company’s stock, valued at $8,840,499. This represents a 25.13% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 121,872 shares of company stock worth $5,043,730 and sold 147,272 shares worth $6,322,139. 4.83% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Atlanta Braves

Several large investors have recently modified their holdings of BATRA. KLP Kapitalforvaltning AS bought a new stake in shares of Atlanta Braves in the fourth quarter worth about $53,000. GAMMA Investing LLC increased its holdings in shares of Atlanta Braves by 25.1% in the first quarter. GAMMA Investing LLC now owns 1,207 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 242 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Atlanta Braves during the fourth quarter worth about $59,000. PNC Financial Services Group Inc. boosted its position in shares of Atlanta Braves by 157.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,495 shares of the financial services provider’s stock worth $61,000 after buying an additional 914 shares during the period. Finally, Ionic Capital Management LLC acquired a new position in shares of Atlanta Braves during the fourth quarter worth about $197,000. 12.31% of the stock is currently owned by institutional investors.

Atlanta Braves Company Profile

Atlanta Braves Holdings, Inc owns and operates the Atlanta Braves Major league baseball club. It also operates mixed-use development project, including retail, office, hotel, and entertainment projects. The company was incorporated in 2022 and is based in Englewood, Colorado.