Atlanta Braves (NASDAQ:BATRA) Sees Unusually-High Trading Volume After Insider Buying Activity

Atlanta Braves Holdings, Inc. (NASDAQ:BATRA) shares saw unusually-strong trading volume on Thursday after an insider bought additional shares in the company. Approximately 121,947 shares changed hands during mid-day 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 acquired 5,094 shares of the company’s stock in a transaction dated Monday, January 27th. The stock was bought at an average price of $41.94 per share, with a total value of $213,642.36. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available at 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 shares were purchased at an average cost of $40.62 per share, with a total value of $617,099.04. Following the completion of the acquisition, the insider now owns 146,020 shares in the company, valued at approximately $5,931,332.40. This represents a 11.61 % increase in their position. The disclosure for this purchase can be found here.

Atlanta Braves Stock Performance

The stock’s fifty day moving average is $40.97 and its two-hundred day moving average is $42.81. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of -59.17 and a beta of 0.78. 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 released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.19). The firm had revenue of $290.67 million for the quarter, compared to analyst estimates 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 period in the previous year, the business posted ($0.10) earnings per share. Analysts forecast that Atlanta Braves Holdings, Inc. will post -0.98 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BATRA. Geode Capital Management LLC lifted its position in shares of Atlanta Braves by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 280,331 shares of the financial services provider’s stock worth $11,817,000 after buying an additional 3,798 shares during the last quarter. State Street Corp lifted its position in shares of Atlanta Braves by 1.3% in the 3rd quarter. State Street Corp now owns 266,968 shares of the financial services provider’s stock worth $11,253,000 after buying an additional 3,432 shares during the last quarter. Pinnacle Associates Ltd. lifted its position in shares of Atlanta Braves by 11.1% in the 3rd quarter. Pinnacle Associates Ltd. now owns 41,771 shares of the financial services provider’s stock worth $1,787,000 after buying an additional 4,165 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Atlanta Braves by 20.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 29,573 shares of the financial services provider’s stock worth $1,247,000 after buying an additional 5,066 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its position in shares of 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 worth $926,000 after buying an additional 2,716 shares during the last quarter. 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.