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

Atlanta Braves (NASDAQ:BATRA)‘s stock had its “buy” rating reiterated by Benchmark in a note issued to investors on Thursday,Benzinga reports. They presently have a $60.00 price objective on the financial services provider’s stock. Benchmark’s price target suggests a potential upside of 35.96% from the stock’s current price.

Atlanta Braves Stock Performance

Shares of BATRA stock opened at $44.13 on Thursday. The stock has a market capitalization of $2.73 billion, a PE ratio of -60.45 and a beta of 0.80. The business’s 50 day simple moving average is $41.86 and its 200 day simple moving average is $42.62. 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 one year low of $38.90 and a one year high of $46.65.

Atlanta Braves (NASDAQ:BATRA) last posted its quarterly earnings data on Wednesday, February 26th. The financial services provider reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $52.12 million for the quarter, compared to analyst estimates of $48.20 million. As a group, research analysts forecast that Atlanta Braves will post -0.98 earnings per share for the current year.

Insider Transactions at Atlanta Braves

In related news, major shareholder John C. Malone bought 5,094 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The shares were bought at an average price of $41.94 per share, for a total transaction of $213,642.36. Following the transaction, the insider now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders acquired 44,932 shares of company stock valued at $1,864,395. Corporate insiders own 4.83% of the company’s stock.

Institutional Investors Weigh In On Atlanta Braves

Hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Atlanta Braves by 11.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,107 shares of the financial services provider’s stock valued at $698,000 after acquiring an additional 1,696 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in Atlanta Braves in the 4th quarter valued at $210,000. Nuveen Asset Management LLC increased its stake in Atlanta Braves by 1.5% during the 4th quarter. Nuveen Asset Management LLC now owns 36,354 shares of the financial services provider’s stock valued at $1,483,000 after purchasing an additional 540 shares in the last quarter. Occudo Quantitative Strategies LP bought a new position in shares of Atlanta Braves in the fourth quarter valued at $220,000. Finally, Ionic Capital Management LLC bought a new position in shares of Atlanta Braves in the fourth quarter valued at $197,000. 12.31% of the stock is owned by institutional investors.

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.