Atlanta Braves (NASDAQ:BATRA) Earns Buy Rating from Benchmark

Atlanta Braves (NASDAQ:BATRA)‘s stock had its “buy” rating reiterated by stock analysts at Benchmark in a report issued on Thursday,Benzinga reports. They presently have a $60.00 price target on the financial services provider’s stock. Benchmark’s target price would suggest a potential upside of 40.09% from the company’s previous close.

Atlanta Braves Stock Performance

NASDAQ:BATRA traded down $0.32 during trading hours on Thursday, hitting $42.83. 5,532 shares of the company were exchanged, compared to its average volume of 51,398. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.70 and a quick ratio of 0.70. Atlanta Braves has a 52-week low of $38.90 and a 52-week high of $46.65. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of -58.72 and a beta of 0.80. The company’s 50 day moving average price is $41.72 and its 200-day moving average price is $42.62.

Atlanta Braves (NASDAQ:BATRA) last announced its quarterly earnings data on Wednesday, February 26th. The financial services provider reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.47. Atlanta Braves had a negative net margin of 6.56% and a negative return on equity of 8.48%. The firm had revenue of $52.12 million for the quarter, compared to analyst estimates of $48.20 million. As a group, research analysts forecast that Atlanta Braves will post -0.98 earnings per share for the current year.

Insider Transactions at Atlanta Braves

In related news, major shareholder John C. Malone purchased 5,094 shares of the business’s stock in a transaction on Monday, January 27th. The shares were bought at an average cost of $41.94 per share, with a total value of $213,642.36. Following the transaction, the insider now owns 169,522 shares of the company’s stock, valued at approximately $7,109,752.68. This trade represents a 3.10 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders bought a total of 44,932 shares of company stock worth $1,864,395 over the last three months. 4.83% of the stock is currently owned by insiders.

Institutional Trading of Atlanta Braves

A number of hedge funds have recently modified their holdings of the stock. Gamco Investors INC. ET AL raised its position in shares of Atlanta Braves by 1.0% in the fourth quarter. Gamco Investors INC. ET AL now owns 2,261,191 shares of the financial services provider’s stock worth $92,257,000 after acquiring an additional 21,955 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Atlanta Braves by 7.7% in the fourth quarter. Renaissance Technologies LLC now owns 284,200 shares of the financial services provider’s stock worth $11,595,000 after buying an additional 20,200 shares in the last quarter. Geode Capital Management LLC boosted its position in Atlanta Braves by 1.4% during the third quarter. Geode Capital Management LLC now owns 280,331 shares of the financial services provider’s stock worth $11,817,000 after acquiring an additional 3,798 shares during the last quarter. State Street Corp grew its stake in Atlanta Braves by 1.3% during the 3rd quarter. State Street Corp now owns 266,968 shares of the financial services provider’s stock valued at $11,253,000 after acquiring an additional 3,432 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Atlanta Braves by 0.5% in the 4th quarter. Northern Trust Corp now owns 95,644 shares of the financial services provider’s stock worth $3,902,000 after purchasing an additional 436 shares in the last quarter. Hedge funds and other institutional investors own 12.31% of the company’s stock.

About Atlanta Braves

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.