Atlanta Braves (NASDAQ:BATRA) Sees Unusually-High Trading Volume - Here's What Happened

Atlanta Braves Holdings, Inc. (NASDAQ:BATRA - Get Free Report) saw strong trading volume on Thursday . 71,178 shares traded hands during trading, an increase of 59% from the previous session's volume of 44,695 shares.The stock last traded at $45.73 and had previously closed at $45.18.

Analysts Set New Price Targets

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

Atlanta Braves Trading Down 1.0%

The business's 50-day moving average price is $43.39 and its 200-day moving average price is $42.58. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a market capitalization of $2.81 billion, a PE ratio of -62.29 and a beta of 0.57.

Atlanta Braves (NASDAQ:BATRA - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The financial services provider reported ($0.66) earnings per share 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 firm had revenue of $47.21 million for the quarter, compared to analyst estimates of $36.87 million. As a group, analysts expect that Atlanta Braves Holdings, Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Activity at Atlanta Braves

In other news, major shareholder Mario J. Gabelli purchased 1,549 shares of the business's stock in a transaction dated Wednesday, May 28th. The stock was acquired at an average price of $43.45 per share, with a total value of $67,304.05. Following the purchase, the insider now directly owns 27,152 shares of the company's stock, valued at $1,179,754.40. This represents a 6.05% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder John C. Malone purchased 44,258 shares of the business's stock in a transaction dated Thursday, April 10th. The shares were purchased at an average cost of $41.80 per share, with a total value of $1,849,984.40. Following the purchase, the insider now directly owns 330,870 shares in the company, valued at approximately $13,830,366. The trade was a 15.44% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 121,872 shares of company stock worth $5,043,730 in the last three months. Insiders own 4.83% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BATRA. Gamco Investors INC. ET AL raised its stake in Atlanta Braves by 1.0% in the 4th quarter. Gamco Investors INC. ET AL now owns 2,261,191 shares of the financial services provider's stock valued at $92,257,000 after purchasing an additional 21,955 shares during the last quarter. Vanguard Group Inc. raised its stake in Atlanta Braves by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 594,802 shares of the financial services provider's stock valued at $26,094,000 after purchasing an additional 4,959 shares during the last quarter. Renaissance Technologies LLC raised its stake in Atlanta Braves by 7.7% in the 4th quarter. Renaissance Technologies LLC now owns 284,200 shares of the financial services provider's stock valued at $11,595,000 after purchasing an additional 20,200 shares during the last quarter. Northern Trust Corp raised its stake in Atlanta Braves by 0.5% in the 4th quarter. Northern Trust Corp now owns 95,644 shares of the financial services provider's stock valued at $3,902,000 after purchasing an additional 436 shares during the last quarter. Finally, Hudson Value Partners LLC acquired a new position in Atlanta Braves in the 1st quarter valued at about $3,830,000. Institutional investors and hedge funds own 12.31% of the company's stock.

Atlanta Braves Company Profile

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.