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

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

Atlanta Braves Price Performance

Shares of NASDAQ:BATRA opened at $44.13 on Thursday. 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 stock has a market cap of $2.73 billion, a PE ratio of -60.45 and a beta of 0.80. The stock’s fifty day simple moving average is $41.86 and its two-hundred day simple moving average is $42.62. Atlanta Braves has a 1-year low of $38.90 and a 1-year high of $46.65.

Atlanta Braves (NASDAQ:BATRA) last released its quarterly earnings results on Wednesday, February 26th. The financial services provider reported ($0.31) earnings per share 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, analysts forecast that Atlanta Braves will post -0.98 EPS for the current fiscal year.

Insider Transactions at Atlanta Braves

In related news, major shareholder John C. Malone purchased 15,192 shares of Atlanta Braves stock in a transaction that occurred on Wednesday, January 22nd. The stock was bought at an average price of $40.62 per share, for a total transaction of $617,099.04. Following the completion of the transaction, the insider now owns 146,020 shares in the company, valued at $5,931,332.40. This represents a 11.61 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have acquired 44,932 shares of company stock worth $1,864,395 in the last 90 days. Insiders own 4.83% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BATRA. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Atlanta Braves by 11.0% during the 4th 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 worth $698,000 after purchasing an additional 1,696 shares during the last quarter. Squarepoint Ops LLC bought a new position in Atlanta Braves during the fourth quarter valued at $210,000. Nuveen Asset Management LLC increased its position in Atlanta Braves by 1.5% in the fourth quarter. Nuveen Asset Management LLC now owns 36,354 shares of the financial services provider’s stock worth $1,483,000 after buying an additional 540 shares during the last quarter. Occudo Quantitative Strategies LP bought a new stake in shares of Atlanta Braves in the fourth quarter valued at $220,000. Finally, Ionic Capital Management LLC purchased a new position in shares of Atlanta Braves during the 4th quarter valued at $197,000. 12.31% of the stock is currently owned by hedge funds and other 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.