Atlanta Braves (NASDAQ:BATRK) Major Shareholder John Malone Buys 28,567 Shares

Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) major shareholder John Malone purchased 28,567 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was purchased at an average price of $41.97 per share, for a total transaction of $1,198,956.99. Following the acquisition, the insider owned 479,972 shares in the company, valued at approximately $20,144,424.84. This trade represents a 6.33% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Atlanta Braves Stock Performance

BATRK stock traded up $0.11 during midday trading on Wednesday, hitting $38.16. 262,661 shares of the stock were exchanged, compared to its average volume of 300,056. The stock’s 50-day moving average price is $40.30 and its 200-day moving average price is $42.53. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of -953.76 and a beta of 0.61. Atlanta Braves Holdings, Inc. has a fifty-two week low of $35.46 and a fifty-two week high of $47.18.

Atlanta Braves (NASDAQ:BATRK) last posted its earnings results on Wednesday, November 5th. The financial services provider reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.23. The firm had revenue of $311.54 million during the quarter, compared to analyst estimates of $309.06 million. Research analysts anticipate that Atlanta Braves Holdings, Inc. will post -0.89 EPS for the current year.

Institutional Investors Weigh In On Atlanta Braves

A number of institutional investors have recently added to or reduced their stakes in the company. Quent Capital LLC purchased a new position in shares of Atlanta Braves in the 3rd quarter worth about $28,000. EverSource Wealth Advisors LLC raised its holdings in Atlanta Braves by 956.1% in the second quarter. EverSource Wealth Advisors LLC now owns 697 shares of the financial services provider’s stock valued at $33,000 after buying an additional 631 shares during the period. First Horizon Corp acquired a new position in Atlanta Braves during the third quarter valued at approximately $30,000. Farther Finance Advisors LLC lifted its position in Atlanta Braves by 701.1% during the third quarter. Farther Finance Advisors LLC now owns 761 shares of the financial services provider’s stock valued at $32,000 after buying an additional 666 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its stake in Atlanta Braves by 218.3% during the third quarter. Jones Financial Companies Lllp now owns 799 shares of the financial services provider’s stock worth $33,000 after buying an additional 548 shares during the period. Hedge funds and other institutional investors own 64.88% of the company’s stock.

Wall Street Analysts Forecast Growth

BATRK has been the subject of several recent research reports. Weiss Ratings restated a “sell (d)” rating on shares of Atlanta Braves in a report on Thursday, November 13th. Wall Street Zen downgraded Atlanta Braves from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Finally, Zacks Research upgraded Atlanta Braves from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $57.00.

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.