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

Atlanta Braves Holdings, Inc. (NASDAQ:BATRA) shares saw unusually-strong trading volume on Wednesday . Approximately 90,407 shares traded hands during mid-day trading, an increase of 143% from the previous session’s volume of 37,256 shares.The stock last traded at $44.69 and had previously closed at $43.31.

Wall Street Analyst Weigh In

Separately, Benchmark reissued a “buy” rating and set a $60.00 target price on shares of Atlanta Braves in a research note on Thursday, February 27th.

Atlanta Braves Price Performance

The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.12. The company has a market cap of $2.73 billion, a price-to-earnings ratio of -60.36 and a beta of 0.73. The stock’s 50-day simple moving average is $43.01 and its 200 day simple moving average is $42.34.

Atlanta Braves (NASDAQ:BATRA) last issued its quarterly earnings data on Wednesday, February 26th. The financial services provider reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.78) by $0.47. Atlanta Braves had a negative net margin of 6.56% and a negative return on equity of 8.48%. The firm had revenue of $52.12 million for the quarter, compared to analyst estimates of $48.20 million. On average, equities research analysts anticipate that Atlanta Braves Holdings, Inc. will post -0.98 EPS for the current fiscal year.

Insider Transactions at Atlanta Braves

In other Atlanta Braves news, major shareholder John C. Malone purchased 2,760 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was acquired at an average price of $41.99 per share, for a total transaction of $115,892.40. Following the completion of the purchase, the insider now directly owns 214,118 shares in the company, valued at approximately $8,990,814.82. The trade was a 1.31 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought a total of 47,692 shares of company stock worth $1,980,287 over the last ninety days. Company insiders own 4.83% of the company’s stock.

Hedge Funds Weigh In On Atlanta Braves

Several hedge funds and other institutional investors have recently made changes to their positions in BATRA. KLP Kapitalforvaltning AS purchased a new position in Atlanta Braves in the fourth quarter valued at approximately $53,000. BNP Paribas Financial Markets purchased a new position in shares of Atlanta Braves in the 4th quarter valued at $59,000. PNC Financial Services Group Inc. boosted its stake in Atlanta Braves by 157.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,495 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 914 shares in the last quarter. R Squared Ltd acquired a new position in Atlanta Braves during the fourth quarter worth approximately $96,000. Finally, Brown Brothers Harriman & Co. raised its position in Atlanta Braves by 460.9% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 2,653 shares of the financial services provider’s stock valued at $112,000 after purchasing an additional 2,180 shares during the last quarter. Hedge funds and other institutional investors 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.