Atlanta Braves (NASDAQ:BATRA) Sees Unusually-High Trading Volume – Time to Buy?

Atlanta Braves Holdings, Inc. (NASDAQ:BATRA) saw an uptick in trading volume on Wednesday . 90,407 shares were traded during 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 price target on shares of Atlanta Braves in a research report on Thursday, February 27th.

Atlanta Braves Trading Up 2.3 %

The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.70 and a current ratio of 0.70. The business’s 50 day moving average price is $42.83 and its 200-day moving average price is $42.31. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of -60.88 and a beta of 0.73.

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

Insider Buying and Selling

In related news, major shareholder John C. Malone bought 5,094 shares of the stock in a transaction dated Monday, January 27th. The stock was bought at an average cost of $41.94 per share, with a total value of $213,642.36. Following the completion of the acquisition, the insider now owns 169,522 shares of the company’s stock, valued at $7,109,752.68. This trade represents a 3.10 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have bought 47,692 shares of company stock worth $1,980,287 over the last ninety days. 4.83% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cutter & CO Brokerage Inc. acquired a new position in shares of Atlanta Braves during the fourth quarter worth approximately $390,000. Barclays PLC boosted its position in Atlanta Braves by 376.1% during the 3rd quarter. Barclays PLC now owns 16,172 shares of the financial services provider’s stock worth $681,000 after acquiring an additional 12,775 shares during the period. Proficio Capital Partners LLC bought a new position in shares of Atlanta Braves in the fourth quarter worth $901,000. Geode Capital Management LLC raised its stake in shares of Atlanta Braves by 1.4% during the third quarter. Geode Capital Management LLC now owns 280,331 shares of the financial services provider’s stock valued at $11,817,000 after purchasing an additional 3,798 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Atlanta Braves by 24.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,411 shares of the financial services provider’s stock worth $650,000 after purchasing an additional 3,074 shares during the period. 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.