Benchmark Reiterates Buy Rating for Atlanta Braves (NASDAQ:BATRA)

Atlanta Braves (NASDAQ:BATRA - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at Benchmark in a research report issued on Thursday,Benzinga reports. They presently have a $60.00 target price on the financial services provider's stock. Benchmark's price target points to a potential upside of 36.64% from the stock's current price.

Atlanta Braves Stock Performance

Shares of BATRA traded down $0.22 during midday trading on Thursday, reaching $43.91. The stock had a trading volume of 44,568 shares, compared to its average volume of 51,759. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.12. The firm has a 50 day simple moving average of $41.86 and a 200-day simple moving average of $42.59. The firm has a market cap of $2.72 billion, a PE ratio of -60.15 and a beta of 0.80. Atlanta Braves has a one year low of $38.90 and a one year high of $46.65.

Atlanta Braves (NASDAQ:BATRA - Get Free Report) last posted its quarterly 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 business had revenue of $52.12 million during the quarter, compared to analysts' expectations of $48.20 million. Atlanta Braves had a negative return on equity of 8.48% and a negative net margin of 6.56%. As a group, sell-side analysts anticipate that Atlanta Braves will post -0.98 EPS for the current year.

Remove Ads

Insiders Place Their Bets

In other Atlanta Braves news, major shareholder John C. Malone purchased 5,094 shares of the firm's stock in a transaction that occurred on Monday, January 27th. The shares were acquired at an average cost of $41.94 per share, for a total transaction of $213,642.36. Following the completion of the purchase, the insider now owns 169,522 shares of the company's stock, valued at approximately $7,109,752.68. The trade was a 3.10 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased 44,932 shares of company stock worth $1,864,395 over the last three months. Insiders own 4.83% of the company's stock.

Institutional Trading of Atlanta Braves

A number of institutional investors have recently bought and sold shares of the business. US Bancorp DE bought a new stake in shares of Atlanta Braves during the 3rd quarter valued at $28,000. KLP Kapitalforvaltning AS acquired a new position in Atlanta Braves in the fourth quarter valued at about $53,000. BNP Paribas Financial Markets bought a new stake in Atlanta Braves during the fourth quarter worth about $59,000. PNC Financial Services Group Inc. grew its stake in Atlanta Braves by 157.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,495 shares of the financial services provider's stock worth $61,000 after buying an additional 914 shares in the last quarter. Finally, R Squared Ltd bought a new position in Atlanta Braves in the 4th quarter valued at about $96,000. Institutional investors own 12.31% of the company's stock.

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.