Atlanta Braves (NASDAQ:BATRA) Sees Strong Trading Volume - What's Next?
Atlanta Braves Holdings, Inc. (NASDAQ:BATRA) experienced a significant increase in trading volume, with 90,407 shares traded, up 143% from the previous session. The stock price rose to $44.69 from $43.31. Analysts at Benchmark have reissued a "buy" rating with a price target of $60.00. The company reported earnings of ($0.31) per share, exceeding estimates, and revenue of $52.12 million. Major shareholder John C. Malone increased his stake by purchasing 2,760 shares. Institutional investors hold 12.31% of the company's stock.
Atlanta Braves Holdings, Inc. (NASDAQ:BATRA - Get Free Report) shares saw unusually-high trading volume on Wednesday . Approximately 90,407 shares were traded during 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.
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Analyst Ratings Changes
Separately, Benchmark reissued a "buy" rating and set a $60.00 price objective on shares of Atlanta Braves in a research note on Thursday, February 27th.
Get Our Latest Analysis on BATRA
Atlanta Braves Trading Up 2.3 %
The company has a market cap of $2.74 billion, a PE ratio of -60.88 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 business has a 50 day simple moving average of $42.83 and a two-hundred day simple moving average of $42.31.
Atlanta Braves (NASDAQ:BATRA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The financial services provider reported ($0.31) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.78) by $0.47. The firm had revenue of $52.12 million for the quarter, compared to analyst estimates of $48.20 million. Atlanta Braves had a negative return on equity of 8.48% and a negative net margin of 6.56%. On average, analysts forecast that Atlanta Braves Holdings, Inc. will post -0.98 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, major shareholder John C. Malone purchased 2,760 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was bought at an average cost of $41.99 per share, for a total transaction of $115,892.40. Following the completion of the purchase, the insider now directly owns 214,118 shares of the company's stock, valued at $8,990,814.82. The trade was a 1.31 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have purchased a total of 47,692 shares of company stock valued at $1,980,287 over the last quarter. Company insiders own 4.83% of the company's stock.
Hedge Funds Weigh In On Atlanta Braves
Several hedge funds and other institutional investors have recently made changes to their positions in BATRA. KLP Kapitalforvaltning AS purchased a new stake in shares of Atlanta Braves during the fourth quarter valued at approximately $53,000. BNP Paribas Financial Markets purchased a new stake in Atlanta Braves during the 4th quarter worth $59,000. PNC Financial Services Group Inc. lifted its holdings in Atlanta Braves by 157.3% in the 4th 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 in the last quarter. R Squared Ltd acquired a new stake in shares of Atlanta Braves during the fourth quarter valued at about $96,000. Finally, Brown Brothers Harriman & Co. grew its stake in shares of Atlanta Braves by 460.9% during the third quarter. Brown Brothers Harriman & Co. now owns 2,653 shares of the financial services provider's stock valued at $112,000 after acquiring an additional 2,180 shares in the last quarter. Institutional investors and hedge funds own 12.31% of the company's stock.
About Atlanta Braves
(Get Free Report)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.
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