Atlanta Braves (NASDAQ:BATRA) Sees Strong Trading Volume on Insider Buying Activity

Shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRA) saw unusually-high trading volume on Thursday following insider buying activity. Approximately 121,947 shares traded hands during trading, an increase of 118% from the previous session’s volume of 56,016 shares.The stock last traded at $43.22 and had previously closed at $41.79.

Specifically, major shareholder John C. Malone bought 5,094 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were purchased at an average price of $41.94 per share, for a total transaction of $213,642.36. Following the purchase, the insider now directly owns 169,522 shares of the company’s stock, valued at approximately $7,109,752.68. This represents a 3.10 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder John C. Malone purchased 15,192 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The stock was bought at an average cost of $40.62 per share, for a total transaction of $617,099.04. Following the acquisition, the insider now directly owns 146,020 shares in the company, valued at $5,931,332.40. This trade represents a 11.61 % increase in their position. The disclosure for this purchase can be found here.

Atlanta Braves Price Performance

The business’s fifty day simple moving average is $41.00 and its 200-day simple moving average is $42.81. 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 market cap of $2.64 billion, a P/E ratio of -58.48 and a beta of 0.78.

Atlanta Braves (NASDAQ:BATRA) last announced its earnings results on Wednesday, November 6th. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.19). Atlanta Braves had a negative return on equity of 8.48% and a negative net margin of 6.56%. The company had revenue of $290.67 million during the quarter, compared to analysts’ expectations of $278.30 million. During the same quarter last year, the firm posted ($0.10) earnings per share. As a group, analysts forecast that Atlanta Braves Holdings, Inc. will post -0.98 EPS for the current fiscal year.

Institutional Trading of Atlanta Braves

A number of institutional investors have recently modified their holdings of BATRA. Barclays PLC grew its holdings in shares of Atlanta Braves by 376.1% during the third quarter. Barclays PLC now owns 16,172 shares of the financial services provider’s stock valued at $681,000 after buying an additional 12,775 shares during the last quarter. Geode Capital Management LLC grew its holdings 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 buying an additional 3,798 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted 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 last quarter. State Street Corp boosted its holdings in Atlanta Braves by 1.3% in the third quarter. State Street Corp now owns 266,968 shares of the financial services provider’s stock worth $11,253,000 after purchasing an additional 3,432 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Atlanta Braves by 20.7% in the third quarter. JPMorgan Chase & Co. now owns 29,573 shares of the financial services provider’s stock worth $1,247,000 after purchasing an additional 5,066 shares during the last quarter. 12.31% of the stock is currently owned by hedge funds and other institutional investors.

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.