Michael P. Plant Sells 69,000 Shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRA) Stock

Atlanta Braves Holdings, Inc. (NASDAQ:BATRA - Get Free Report) EVP Michael P. Plant sold 69,000 shares of the business's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $43.00, for a total transaction of $2,967,000.00. Following the transaction, the executive vice president now owns 205,593 shares in the company, valued at approximately $8,840,499. This trade represents a 25.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Atlanta Braves Trading Down 0.5%

Shares of Atlanta Braves stock traded down $0.23 during trading on Friday, reaching $45.24. The company's stock had a trading volume of 51,654 shares, compared to its average volume of 45,048. Atlanta Braves Holdings, Inc. has a 52-week low of $38.67 and a 52-week high of $46.65. The company has a market cap of $2.80 billion, a price-to-earnings ratio of -61.97 and a beta of 0.57. The firm's 50-day moving average is $43.50 and its two-hundred day moving average is $42.60. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.12.

Atlanta Braves (NASDAQ:BATRA - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The financial services provider reported ($0.66) EPS for the quarter, beating analysts' consensus estimates of ($0.94) by $0.28. Atlanta Braves had a negative net margin of 6.56% and a negative return on equity of 8.48%. The company had revenue of $47.21 million during the quarter, compared to analyst estimates of $36.87 million. On average, sell-side analysts anticipate that Atlanta Braves Holdings, Inc. will post -0.98 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Citigroup assumed coverage on shares of Atlanta Braves in a report on Friday. They set a "neutral" rating and a $45.00 target price on the stock. Benchmark reaffirmed a "buy" rating and issued a $60.00 price objective on shares of Atlanta Braves in a research note on Thursday, February 27th.

Institutional Investors Weigh In On Atlanta Braves

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cutter & CO Brokerage Inc. bought a new position in Atlanta Braves in the 4th quarter worth $390,000. Raymond James Financial Inc. bought a new position in shares of Atlanta Braves in the 4th quarter worth about $394,000. BNP Paribas Financial Markets bought a new position in shares of Atlanta Braves in the 4th quarter worth about $59,000. Proficio Capital Partners LLC bought a new position in shares of Atlanta Braves in the 4th quarter worth about $901,000. Finally, Renaissance Technologies LLC increased its stake in shares of Atlanta Braves by 7.7% in the 4th quarter. Renaissance Technologies LLC now owns 284,200 shares of the financial services provider's stock worth $11,595,000 after acquiring an additional 20,200 shares in the last quarter. 12.31% of the stock is currently owned by institutional investors.

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.