Atlanta Braves (NASDAQ:BATRA) Major Shareholder Acquires $1,548,050.00 in Stock

Atlanta Braves Holdings, Inc. (NASDAQ:BATRA) major shareholder John Malone bought 35,000 shares of Atlanta Braves stock in a transaction dated Thursday, February 5th. The stock was acquired at an average cost of $44.23 per share, for a total transaction of $1,548,050.00. Following the completion of the transaction, the insider directly owned 521,862 shares in the company, valued at approximately $23,081,956.26. This trade represents a 7.19% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Atlanta Braves Trading Down 0.8%

NASDAQ:BATRA opened at $43.42 on Monday. The firm has a market capitalization of $2.73 billion, a P/E ratio of -1,085.23 and a beta of 0.63. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.87 and a quick ratio of 0.87. Atlanta Braves Holdings, Inc. has a one year low of $38.67 and a one year high of $50.50. The company’s 50-day simple moving average is $43.05 and its 200 day simple moving average is $44.27.

Analysts Set New Price Targets

A number of brokerages have issued reports on BATRA. Weiss Ratings reiterated a “sell (d-)” rating on shares of Atlanta Braves in a research note on Wednesday, January 21st. Zacks Research lowered Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $52.50.

Institutional Trading of Atlanta Braves

Several institutional investors have recently added to or reduced their stakes in the business. Ameritas Advisory Services LLC purchased a new position in shares of Atlanta Braves during the second quarter valued at approximately $32,000. Levin Capital Strategies L.P. grew its position in Atlanta Braves by 266.7% in the 2nd quarter. Levin Capital Strategies L.P. now owns 27,500 shares of the financial services provider’s stock worth $1,353,000 after purchasing an additional 20,000 shares during the period. DAVENPORT & Co LLC raised its stake in Atlanta Braves by 2.9% during the 2nd quarter. DAVENPORT & Co LLC now owns 11,425 shares of the financial services provider’s stock valued at $562,000 after buying an additional 325 shares during the last quarter. Wedbush Securities Inc. purchased a new stake in Atlanta Braves during the 2nd quarter valued at $208,000. Finally, Aurora Investment Counsel lifted its holdings in shares of Atlanta Braves by 1.3% during the 2nd quarter. Aurora Investment Counsel now owns 45,672 shares of the financial services provider’s stock valued at $2,248,000 after buying an additional 581 shares during the period. 12.31% of the stock is currently owned by hedge funds and other institutional investors.

About Atlanta Braves

The Atlanta Braves (NASDAQ: BATRA) are a professional baseball club that competes in Major League Baseball’s National League East division. Founded in 1871 as the Boston Red Stockings, the franchise relocated to Milwaukee in 1953 before settling in Atlanta in 1966. As one of MLB’s oldest and most storied organizations, the Braves are responsible for fielding a Major League team, overseeing player development through a network of minor league affiliates, and managing baseball operations under the leadership of President of Baseball Operations Alex Anthopoulos.

Beyond on‐field performance, the Braves operate a diversified sports and entertainment business.