Atlanta Braves’ (BATRA) “Buy” Rating Reiterated at Benchmark

Benchmark reaffirmed their buy rating on shares of Atlanta Braves (NASDAQ:BATRA) in a report released on Thursday morning,Benzinga reports. They currently have a $60.00 price target on the financial services provider’s stock.

Atlanta Braves Stock Performance

Shares of BATRA opened at $44.13 on Thursday. The firm’s 50 day moving average is $41.86 and its 200-day moving average is $42.61. The stock has a market capitalization of $2.73 billion, a P/E ratio of -60.45 and a beta of 0.80. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.70 and a quick ratio of 0.70. Atlanta Braves has a 12-month low of $38.90 and a 12-month high of $46.65.

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

Insider Transactions at Atlanta Braves

In other news, major shareholder John C. Malone bought 5,094 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were acquired at an average cost of $41.94 per share, with a total value of $213,642.36. Following the completion of the transaction, the insider now directly owns 169,522 shares in the company, valued at approximately $7,109,752.68. The trade was a 3.10 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have bought a total of 44,932 shares of company stock valued at $1,864,395 over the last ninety days. Corporate insiders own 4.83% of the company’s stock.

Institutional Trading of Atlanta Braves

Several institutional investors have recently made changes to their positions in BATRA. US Bancorp DE acquired a new stake in Atlanta Braves in the third quarter valued at approximately $28,000. KLP Kapitalforvaltning AS acquired a new stake in Atlanta Braves in the fourth quarter valued at approximately $53,000. BNP Paribas Financial Markets acquired a new stake in Atlanta Braves in the fourth quarter valued at approximately $59,000. PNC Financial Services Group Inc. lifted 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 during the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Atlanta Braves in the fourth quarter worth $96,000. 12.31% of the stock is currently owned by institutional investors and hedge funds.

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.