Atlanta Braves (NASDAQ:BATRA) Coverage Initiated by Analysts at Citigroup

Citigroup began coverage on shares of Atlanta Braves (NASDAQ:BATRA) in a research report sent to investors on Friday morning, Marketbeat Ratings reports. The firm issued a neutral rating and a $45.00 target price on the financial services provider’s stock.

Separately, Benchmark restated a “buy” rating and issued a $60.00 price objective on shares of Atlanta Braves in a report on Thursday, February 27th.

Atlanta Braves Trading Down 0.5%

Shares of NASDAQ:BATRA opened at $45.24 on Friday. Atlanta Braves has a 1 year low of $38.67 and a 1 year high of $46.65. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of -61.97 and a beta of 0.57. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.70 and a quick ratio of 0.70. The business’s 50 day moving average price is $43.50 and its 200-day moving average price is $42.60.

Atlanta Braves (NASDAQ:BATRA) last announced its earnings results on Monday, May 12th. The financial services provider reported ($0.66) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.94) by $0.28. Atlanta Braves had a negative return on equity of 8.48% and a negative net margin of 6.56%. The firm had revenue of $47.21 million for the quarter, compared to analyst estimates of $36.87 million. On average, equities research analysts forecast that Atlanta Braves will post -0.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Deretta C. Rhodes sold 767 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $40.97, for a total transaction of $31,423.99. Following the completion of the transaction, the executive vice president now directly owns 3,112 shares in the company, valued at $127,498.64. This trade represents a 19.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael P. Plant sold 69,000 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $43.00, for a total value of $2,967,000.00. Following the transaction, the executive vice president now owns 205,593 shares of the company’s stock, valued at $8,840,499. This trade represents a 25.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 121,872 shares of company stock valued at $5,043,730 and sold 147,272 shares valued at $6,322,139. Corporate insiders own 4.83% of the company’s stock.

Hedge Funds Weigh In On Atlanta Braves

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in shares of Atlanta Braves by 25.1% in the 1st quarter. GAMMA Investing LLC now owns 1,207 shares of the financial services provider’s stock valued at $53,000 after buying an additional 242 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of Atlanta Braves in the 4th quarter valued at about $53,000. BNP Paribas Financial Markets purchased a new position in shares of Atlanta Braves in the 4th quarter valued at about $59,000. PNC Financial Services Group Inc. lifted its stake in Atlanta Braves by 157.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,495 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 914 shares during the last quarter. Finally, AQR Capital Management LLC purchased a new stake in Atlanta Braves during the first quarter worth approximately $211,000. Hedge funds and other institutional investors own 12.31% of the company’s stock.

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.