Atlanta Braves (NASDAQ:BATRA) Sees Large Volume Increase - Time to Buy?

Key Points

• Atlanta Braves Holdings, Inc. experienced a notable trading volume drop of 12% on Wednesday, with shares last trading at $46.44.
• Citigroup initiated coverage on the stock with a "neutral" rating and a price target of $45.00, while analysts have an average price target of $52.50.
• Recent insider transactions included significant sales by executives, with EVP Derek Schiller selling 30,000 shares for $1.37 million, indicating a decrease in management's ownership interest.

Shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRA - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 46,533 shares were traded during trading, a decline of 12% from the previous session's volume of 53,007 shares.The stock last traded at $46.44 and had previously closed at $46.53.

Wall Street Analyst Weigh In

Separately, Citigroup started coverage on shares of Atlanta Braves in a research note on Friday, June 13th. They set a "neutral" rating and a $45.00 price objective for the company. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Atlanta Braves currently has an average rating of "Moderate Buy" and an average price target of $52.50.

Atlanta Braves Price Performance

The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of -133.00 and a beta of 0.68. The stock's 50 day simple moving average is $47.95 and its 200-day simple moving average is $45.27.

Atlanta Braves (NASDAQ:BATRA - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.12. Atlanta Braves had a negative net margin of 2.99% and a negative return on equity of 3.98%. The business had revenue of $312.44 million for the quarter, compared to analyst estimates of $295.86 million. Equities research analysts anticipate that Atlanta Braves Holdings, Inc. will post -0.98 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Michael P. Plant sold 69,000 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $43.00, for a total value of $2,967,000.00. Following the sale, the executive vice president owned 205,593 shares in the company, valued at $8,840,499. This represents a 25.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Derek Gordon Schiller sold 30,000 shares of the stock in a transaction on Friday, June 20th. The stock was sold at an average price of $45.50, for a total transaction of $1,365,000.00. Following the completion of the sale, the executive vice president owned 300,233 shares in the company, valued at $13,660,601.50. The trade was a 9.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold 211,605 shares of company stock worth $9,214,527 in the last quarter. Company insiders own 5.90% of the company's stock.

Institutional Trading of Atlanta Braves

Hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its holdings in Atlanta Braves by 1,873.1% during the second quarter. EverSource Wealth Advisors LLC now owns 513 shares of the financial services provider's stock worth $25,000 after buying an additional 487 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in Atlanta Braves during the second quarter worth $32,000. Nisa Investment Advisors LLC lifted its holdings in Atlanta Braves by 48.5% during the second quarter. Nisa Investment Advisors LLC now owns 1,007 shares of the financial services provider's stock valued at $50,000 after purchasing an additional 329 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Atlanta Braves by 25.1% during the first quarter. GAMMA Investing LLC now owns 1,207 shares of the financial services provider's stock valued at $53,000 after purchasing an additional 242 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in Atlanta Braves during the fourth quarter valued at $59,000. 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.