Bank of America Corp DE Buys 2,367 Shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRA)

Bank of America Corp DE boosted its stake in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRA) by 13.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 20,004 shares of the financial services provider’s stock after buying an additional 2,367 shares during the quarter. Bank of America Corp DE’s holdings in Atlanta Braves were worth $816,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. KLP Kapitalforvaltning AS bought a new position in Atlanta Braves in the 4th quarter valued at about $53,000. BNP Paribas Financial Markets acquired a new position in shares of Atlanta Braves in the fourth quarter valued at approximately $59,000. PNC Financial Services Group Inc. increased its stake in shares of 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 period. SG Americas Securities LLC lifted its holdings in Atlanta Braves by 25.6% during the 4th quarter. SG Americas Securities LLC now owns 4,711 shares of the financial services provider’s stock worth $192,000 after purchasing an additional 959 shares during the last quarter. Finally, Pacific Global Investment Management Co. boosted its stake in Atlanta Braves by 5.1% in the 4th quarter. Pacific Global Investment Management Co. now owns 5,147 shares of the financial services provider’s stock valued at $210,000 after purchasing an additional 249 shares during the period. 12.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Atlanta Braves Price Performance

BATRA stock opened at $43.70 on Monday. The company’s 50-day moving average price is $43.16 and its two-hundred day moving average price is $42.50. The firm has a market cap of $2.70 billion, a P/E ratio of -59.86 and a beta of 0.57. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.12. Atlanta Braves Holdings, Inc. has a 12 month low of $38.67 and a 12 month high of $46.65.

Atlanta Braves (NASDAQ:BATRA) last released its quarterly earnings data on Monday, May 12th. The financial services provider reported ($0.66) earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $47.21 million for the quarter, compared to analyst estimates of $36.87 million. On average, analysts anticipate that Atlanta Braves Holdings, Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Activity

In other Atlanta Braves news, EVP Deretta C. Rhodes sold 5,000 shares of Atlanta Braves stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $41.20, for a total value of $206,000.00. Following the completion of the sale, the executive vice president now directly owns 3,112 shares in the company, valued at approximately $128,214.40. The trade was a 61.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Mario J. Gabelli acquired 1,549 shares of the stock in a transaction dated Wednesday, May 28th. The stock was bought at an average price of $43.45 per share, with a total value of $67,304.05. Following the purchase, the insider now directly owns 27,152 shares in the company, valued at $1,179,754.40. This represents a 6.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 124,632 shares of company stock valued at $5,159,623. 4.83% of the stock is currently owned by corporate insiders.

Atlanta Braves 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.