Atlanta Braves (NASDAQ:BATRA) Coverage Initiated by Analysts at Citigroup

Analysts at Citigroup began coverage on shares of Atlanta Braves (NASDAQ:BATRA - Get Free Report) in a note issued to investors on Friday, Marketbeat reports. The firm set a "neutral" rating and a $45.00 price target on the financial services provider's stock. Citigroup's price target would indicate a potential downside of 0.53% from the company's previous close.

Separately, Benchmark reaffirmed a "buy" rating and issued a $60.00 price target on shares of Atlanta Braves in a research note on Thursday, February 27th.

Atlanta Braves Trading Down 0.5%

Shares of Atlanta Braves stock traded down $0.23 during midday trading on Friday, reaching $45.24. 51,654 shares of the company's stock traded hands, compared to its average volume of 45,048. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market cap of $2.80 billion, a PE ratio of -61.97 and a beta of 0.57. The stock has a 50 day moving average of $43.50 and a 200-day moving average of $42.60. Atlanta Braves has a 12 month low of $38.67 and a 12 month high of $46.65.

Atlanta Braves (NASDAQ:BATRA - Get Free Report) last announced its 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. The company had revenue of $47.21 million during the quarter, compared to the consensus estimate of $36.87 million. Atlanta Braves had a negative return on equity of 8.48% and a negative net margin of 6.56%. As a group, equities analysts expect that Atlanta Braves will post -0.98 EPS for the current fiscal year.

Insider Transactions at Atlanta Braves

In other Atlanta Braves news, EVP Derek Gordon Schiller sold 72,505 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $43.00, for a total value of $3,117,715.00. Following the transaction, the executive vice president now directly owns 300,233 shares of the company's stock, valued at approximately $12,910,019. This trade represents a 19.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael P. Plant sold 69,000 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $43.00, for a total value of $2,967,000.00. Following the completion of the transaction, the executive vice president now directly owns 205,593 shares in the company, valued at $8,840,499. The trade was a 25.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 121,872 shares of company stock valued at $5,043,730 and have sold 147,272 shares valued at $6,322,139. Insiders own 4.83% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Rhumbline Advisers increased its position in shares of Atlanta Braves by 5.2% during the 1st quarter. Rhumbline Advisers now owns 17,228 shares of the financial services provider's stock valued at $756,000 after purchasing an additional 848 shares during the last quarter. Anchor Investment Management LLC increased its position in shares of Atlanta Braves by 7.4% during the 1st quarter. Anchor Investment Management LLC now owns 7,290 shares of the financial services provider's stock valued at $320,000 after purchasing an additional 500 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Atlanta Braves during the 1st quarter valued at approximately $385,000. SageView Advisory Group LLC increased its position in shares of Atlanta Braves by 32.9% during the 1st quarter. SageView Advisory Group LLC now owns 8,075 shares of the financial services provider's stock valued at $354,000 after purchasing an additional 1,998 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Atlanta Braves by 4.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,061 shares of the financial services provider's stock valued at $266,000 after purchasing an additional 234 shares during the last quarter. 12.31% of the stock is owned by hedge funds and other 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.