Atlanta Braves (NASDAQ:BATRA) Major Shareholder Acquires $1,198,956.99 in Stock

Atlanta Braves Holdings, Inc. (NASDAQ:BATRA) major shareholder John Malone purchased 28,567 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The stock was acquired at an average price of $41.97 per share, for a total transaction of $1,198,956.99. Following the completion of the purchase, the insider owned 479,972 shares of the company’s stock, valued at approximately $20,144,424.84. This represents a 6.33% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Atlanta Braves Stock Performance

Atlanta Braves stock remained flat at $42.13 during midday trading on Wednesday. The company’s stock had a trading volume of 40,789 shares, compared to its average volume of 54,438. Atlanta Braves Holdings, Inc. has a 12 month low of $38.67 and a 12 month high of $50.50. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.32. The company’s fifty day simple moving average is $43.81 and its 200 day simple moving average is $45.64. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of -1,052.99 and a beta of 0.63.

Atlanta Braves (NASDAQ:BATRA) last posted its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.23. Atlanta Braves had a negative net margin of 0.14% and a negative return on equity of 0.19%. The business had revenue of $311.54 million for the quarter, compared to analysts’ expectations of $309.06 million. Equities analysts predict that Atlanta Braves Holdings, Inc. will post -0.98 earnings per share for the current year.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Atlanta Braves in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $52.50.

Hedge Funds Weigh In On Atlanta Braves

A number of institutional investors have recently made changes to their positions in the stock. Nuveen LLC acquired a new stake in Atlanta Braves during the first quarter worth approximately $1,596,000. Atria Wealth Solutions Inc. acquired a new position in Atlanta Braves in the 1st quarter valued at $377,000. Congress Park Capital LLC lifted its stake in shares of Atlanta Braves by 70.6% during the 2nd quarter. Congress Park Capital LLC now owns 37,510 shares of the financial services provider’s stock worth $1,846,000 after purchasing an additional 15,520 shares during the period. Levin Capital Strategies L.P. acquired a new stake in shares of Atlanta Braves during the first quarter worth $329,000. Finally, AlphaQuest LLC purchased a new stake in shares of Atlanta Braves in the first quarter valued at $310,000. 12.31% of the stock is owned by institutional investors and hedge funds.

About Atlanta Braves

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.