Atlanta Braves (NASDAQ:BATRA) Now Covered by Citigroup

Equities researchers at Citigroup assumed coverage on shares of Atlanta Braves (NASDAQ:BATRA) in a research note issued to investors on Friday,Briefing.com Automated Import reports. The brokerage set a “neutral” rating and a $45.00 price target on the financial services provider’s stock. Citigroup’s target price would indicate a potential downside of 1.03% from the stock’s current price.

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

Atlanta Braves Stock Performance

NASDAQ BATRA opened at $45.47 on Friday. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of -62.29 and a beta of 0.57. The stock has a 50-day moving average of $43.39 and a 200 day moving average of $42.58. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.12. Atlanta Braves has a twelve month low of $38.67 and a twelve month high of $46.65.

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 the consensus estimate of ($0.94) by $0.28. Atlanta Braves had a negative net margin of 6.56% and a negative return on equity of 8.48%. The business had revenue of $47.21 million for the quarter, compared to analyst estimates of $36.87 million. Sell-side analysts anticipate that Atlanta Braves will post -0.98 EPS for the current fiscal year.

Insider Buying and Selling at Atlanta Braves

In other news, EVP Deretta C. Rhodes sold 5,000 shares of Atlanta Braves stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $41.20, for a total transaction of $206,000.00. Following the completion of the sale, the executive vice president now directly owns 3,112 shares of the company’s stock, valued at approximately $128,214.40. The trade was a 61.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Mario J. Gabelli acquired 1,549 shares of the stock in a transaction dated Wednesday, May 28th. The shares were acquired at an average cost of $43.45 per share, with a total value of $67,304.05. Following the completion of the transaction, the insider now owns 27,152 shares in the company, valued at approximately $1,179,754.40. This represents a 6.05% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 121,872 shares of company stock valued at $5,043,730 in the last three months. 4.83% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Atlanta Braves

Hedge funds have recently made changes to their positions in the company. Gamco Investors INC. ET AL grew its holdings in shares of Atlanta Braves by 1.0% during the fourth quarter. Gamco Investors INC. ET AL now owns 2,261,191 shares of the financial services provider’s stock worth $92,257,000 after buying an additional 21,955 shares during the last quarter. Vanguard Group Inc. lifted its position in Atlanta Braves by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 594,802 shares of the financial services provider’s stock worth $26,094,000 after acquiring an additional 4,959 shares during the period. Renaissance Technologies LLC grew its stake in shares of Atlanta Braves by 7.7% in the 4th quarter. Renaissance Technologies LLC now owns 284,200 shares of the financial services provider’s stock valued at $11,595,000 after purchasing an additional 20,200 shares during the last quarter. Northern Trust Corp grew its stake in shares of Atlanta Braves by 0.5% in the 4th quarter. Northern Trust Corp now owns 95,644 shares of the financial services provider’s stock valued at $3,902,000 after purchasing an additional 436 shares during the last quarter. Finally, Hudson Value Partners LLC acquired a new position in shares of Atlanta Braves in the first quarter valued at approximately $3,830,000. 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.