Atlanta Braves’ (BATRA) “Buy” Rating Reiterated at Benchmark

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

Atlanta Braves Trading Down 0.7 %

Atlanta Braves stock traded down $0.32 during midday trading on Thursday, hitting $42.83. 5,532 shares of the stock were exchanged, compared to its average volume of 51,398. 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 stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of -58.72 and a beta of 0.80. The stock’s 50-day simple moving average is $41.72 and its 200 day simple moving average is $42.62. Atlanta Braves has a fifty-two week low of $38.90 and a fifty-two week high of $46.65.

Atlanta Braves (NASDAQ:BATRA) last released its quarterly earnings results on Wednesday, February 26th. The financial services provider reported ($0.31) EPS for the quarter, beating the consensus estimate 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 net margin of 6.56% and a negative return on equity of 8.48%. On average, equities analysts anticipate that Atlanta Braves will post -0.98 EPS for the current year.

Insider Transactions at Atlanta Braves

In other news, major shareholder John C. Malone purchased 24,646 shares of the firm’s stock in a transaction on Wednesday, January 29th. The shares were bought at an average cost of $41.94 per share, for a total transaction of $1,033,653.24. Following the completion of the purchase, the insider now directly owns 211,358 shares of the company’s stock, valued at approximately $8,864,354.52. This trade represents a 13.20 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders acquired 44,932 shares of company stock worth $1,864,395. 4.83% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Atlanta Braves

Several institutional investors and hedge funds have recently modified their holdings of BATRA. Pinnacle Associates Ltd. lifted its holdings in Atlanta Braves by 11.1% during the 3rd quarter. Pinnacle Associates Ltd. now owns 41,771 shares of the financial services provider’s stock worth $1,787,000 after buying an additional 4,165 shares during the last quarter. US Bancorp DE purchased a new stake in Atlanta Braves during the third quarter worth approximately $28,000. Quest Partners LLC boosted its holdings in Atlanta Braves by 62.9% in the third quarter. Quest Partners LLC now owns 5,312 shares of the financial services provider’s stock valued at $224,000 after purchasing an additional 2,052 shares in the last quarter. Brown Brothers Harriman & Co. increased its stake in Atlanta Braves by 460.9% in the third quarter. Brown Brothers Harriman & Co. now owns 2,653 shares of the financial services provider’s stock valued at $112,000 after purchasing an additional 2,180 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Atlanta Braves by 24.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,411 shares of the financial services provider’s stock worth $650,000 after buying an additional 3,074 shares during 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.