Atlanta Braves (NASDAQ:BATRA) Sees Large Volume Increase on Insider Buying Activity

Atlanta Braves Holdings, Inc. (NASDAQ:BATRA) saw an uptick in trading volume on Thursday following insider buying activity. 121,947 shares changed 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 purchased 5,094 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were acquired 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 $7,109,752.68. The trade was a 3.10 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder John C. Malone acquired 15,192 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were purchased 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 directly owns 146,020 shares in the company, valued at approximately $5,931,332.40. This trade represents a 11.61 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Atlanta Braves Stock Down 0.6 %

The stock has a market capitalization of $2.64 billion, a P/E ratio of -58.48 and a beta of 0.78. The company’s 50-day moving average price is $41.00 and its 200 day moving average price is $42.81. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.70 and a current ratio of 0.70.

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

Institutional Trading of Atlanta Braves

A number of institutional investors and hedge funds have recently bought and sold shares of BATRA. Geode Capital Management LLC boosted its stake in shares of Atlanta Braves by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 280,331 shares of the financial services provider’s stock worth $11,817,000 after purchasing an additional 3,798 shares during the period. State Street Corp boosted its position in Atlanta Braves by 1.3% in the 3rd quarter. State Street Corp now owns 266,968 shares of the financial services provider’s stock valued at $11,253,000 after buying an additional 3,432 shares during the period. Pinnacle Associates Ltd. boosted its position in Atlanta Braves by 11.1% in the 3rd quarter. Pinnacle Associates Ltd. now owns 41,771 shares of the financial services provider’s stock valued at $1,787,000 after buying an additional 4,165 shares during the period. JPMorgan Chase & Co. boosted its position in Atlanta Braves by 20.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 29,573 shares of the financial services provider’s stock valued at $1,247,000 after buying an additional 5,066 shares during the period. Finally, Y Intercept Hong Kong Ltd boosted its position in Atlanta Braves by 13.2% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 23,254 shares of the financial services provider’s stock valued at $926,000 after buying an additional 2,716 shares during the period. 12.31% of the stock is currently 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.