Atlanta Braves (NASDAQ:BATRA) Sees Large Volume Increase - Still a 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.

Atlanta Braves Holdings, Inc. (NASDAQ:BATRA - Get Free Report) shares saw unusually-strong trading volume on Wednesday . Approximately 46,533 shares traded hands 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.

Analysts Set New Price Targets

Separately, Citigroup began coverage on Atlanta Braves in a research report on Friday, June 13th. They issued a "neutral" rating and a $45.00 price objective for the company. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.50.

Atlanta Braves Stock Down 1.5%

The company has a debt-to-equity ratio of 1.31, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of -130.23 and a beta of 0.68. The firm has a 50-day moving average price of $47.95 and a two-hundred day moving average price of $45.26.

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

Insider Buying and Selling at Atlanta Braves

In other Atlanta Braves news, EVP Michael P. Plant sold 69,000 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $43.00, for a total transaction of $2,967,000.00. Following the sale, the executive vice president directly owned 205,593 shares of the company's stock, valued at $8,840,499. The trade was a 25.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Derek Gordon Schiller sold 72,505 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $43.00, for a total transaction of $3,117,715.00. Following the transaction, the executive vice president owned 300,233 shares of the company's stock, valued at approximately $12,910,019. This represents a 19.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 211,605 shares of company stock valued at $9,214,527 in the last 90 days. 5.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Atlanta Braves

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Hudson Value Partners LLC bought a new position in Atlanta Braves in the first quarter valued at approximately $3,830,000. GAMMA Investing LLC raised its stake in shares of Atlanta Braves by 5,387.2% during the 1st quarter. GAMMA Investing LLC now owns 52,951 shares of the financial services provider's stock worth $23,230,000 after purchasing an additional 51,986 shares in the last quarter. HRT Financial LP boosted its holdings in shares of Atlanta Braves by 600.4% in the 2nd quarter. HRT Financial LP now owns 48,679 shares of the financial services provider's stock valued at $2,395,000 after buying an additional 41,729 shares during the last quarter. Nuveen LLC bought a new position in shares of Atlanta Braves in the first quarter valued at $1,596,000. Finally, Balyasny Asset Management L.P. bought a new position in shares of Atlanta Braves in the second quarter valued at $1,516,000. 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.