Atlanta Braves (NASDAQ:BATRA) Trading 5% Higher - Here's Why

Atlanta Braves Holdings, Inc. (NASDAQ:BATRA - Get Free Report)'s share price traded up 5% on Friday . The company traded as high as $48.25 and last traded at $48.65. 66,400 shares changed hands during trading, an increase of 23% from the average session volume of 53,866 shares. The stock had previously closed at $46.32.

Analysts Set New Price Targets

A number of research firms recently issued reports on BATRA. Citigroup initiated coverage on shares of Atlanta Braves in a report on Friday, June 13th. They issued a "neutral" rating and a $45.00 target price for the company. Benchmark reissued a "buy" rating and set a $60.00 price target on shares of Atlanta Braves in a research report on Thursday, February 27th.

Atlanta Braves Stock Performance

The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.40. The company's 50-day moving average is $43.97 and its two-hundred day moving average is $42.77. The stock has a market capitalization of $3.05 billion, a P/E ratio of -140.65 and a beta of 0.57.

Atlanta Braves (NASDAQ:BATRA - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The financial services provider reported ($0.66) earnings per share for the quarter, topping the consensus estimate of ($0.94) by $0.28. Atlanta Braves had a negative return on equity of 4.07% and a negative net margin of 3.18%. The business had revenue of $47.21 million during the quarter, compared to analyst estimates of $36.87 million. As a group, sell-side analysts anticipate that Atlanta Braves Holdings, Inc. will post -0.98 EPS for the current fiscal year.

Insider Buying and Selling at Atlanta Braves

In other news, EVP Derek Gordon Schiller sold 30,000 shares of the firm's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $45.50, for a total transaction of $1,365,000.00. Following the completion of the transaction, the executive vice president now directly owns 300,233 shares of the company's stock, valued at approximately $13,660,601.50. This trade represents a 9.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael P. Plant sold 69,000 shares of the business's 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 completion of the sale, the executive vice president now directly owns 205,593 shares in the company, valued at approximately $8,840,499. This represents a 25.13% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 121,872 shares of company stock worth $5,043,730 and sold 217,372 shares worth $9,451,951. Corporate insiders own 4.83% of the company's stock.

Hedge Funds Weigh In On Atlanta Braves

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Cutter & CO Brokerage Inc. acquired a new stake in shares of Atlanta Braves in the fourth quarter valued at about $390,000. Proficio Capital Partners LLC acquired a new position in Atlanta Braves in the 4th quarter valued at $901,000. Pacific Global Investment Management Co. increased its position in Atlanta Braves by 5.1% during the fourth quarter. Pacific Global Investment Management Co. now owns 5,147 shares of the financial services provider's stock worth $210,000 after acquiring an additional 249 shares during the period. Raymond James Financial Inc. bought a new position in shares of Atlanta Braves during the fourth quarter worth approximately $394,000. Finally, PNC Financial Services Group Inc. increased its stake in Atlanta Braves by 157.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,495 shares of the financial services provider's stock worth $61,000 after acquiring an additional 914 shares during the period. 12.31% of the stock is owned by institutional investors.

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.