Atlanta Braves (NASDAQ:BATRA) Sees Strong Trading Volume – Should You Buy?

Atlanta Braves Holdings, Inc. (NASDAQ:BATRA) shares saw unusually-high trading volume on Wednesday . Approximately 90,407 shares traded hands during mid-day trading, an increase of 143% from the previous session’s volume of 37,256 shares.The stock last traded at $44.69 and had previously closed at $43.31.

Analyst Ratings Changes

Separately, Benchmark reaffirmed a “buy” rating and set a $60.00 price objective on shares of Atlanta Braves in a research report on Thursday, February 27th.

Atlanta Braves Stock Down 2.0 %

The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of -60.36 and a beta of 0.73. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.12. The firm’s 50 day simple moving average is $43.01 and its 200-day simple moving average is $42.34.

Atlanta Braves (NASDAQ:BATRA) last released its earnings results on Wednesday, February 26th. The financial services provider reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.78) by $0.47. Atlanta Braves had a negative return on equity of 8.48% and a negative net margin of 6.56%. The company had revenue of $52.12 million for the quarter, compared to analysts’ expectations of $48.20 million. On average, sell-side analysts anticipate that Atlanta Braves Holdings, Inc. will post -0.98 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder John C. Malone acquired 15,192 shares of Atlanta Braves stock in a transaction that occurred on Wednesday, January 22nd. The stock was purchased at an average cost of $40.62 per share, with a total value of $617,099.04. Following the completion of the acquisition, the insider now owns 146,020 shares in the company, valued at $5,931,332.40. This trade represents a 11.61 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders purchased 47,692 shares of company stock worth $1,980,287 in the last 90 days. 4.83% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Atlanta Braves by 11.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,107 shares of the financial services provider’s stock valued at $698,000 after acquiring an additional 1,696 shares in the last quarter. Squarepoint Ops LLC purchased a new position in shares of Atlanta Braves during the 4th quarter worth approximately $210,000. Nuveen Asset Management LLC raised its position in shares of Atlanta Braves by 1.5% during the 4th quarter. Nuveen Asset Management LLC now owns 36,354 shares of the financial services provider’s stock worth $1,483,000 after purchasing an additional 540 shares during the last quarter. Occudo Quantitative Strategies LP purchased a new stake in Atlanta Braves in the 4th quarter valued at approximately $220,000. Finally, Ionic Capital Management LLC acquired a new stake in Atlanta Braves during the 4th quarter valued at $197,000. Institutional investors and hedge funds 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.