Atlanta Braves Holdings, Inc. (NASDAQ:BATRA) Sees Significant Drop in Short Interest

Atlanta Braves Holdings, Inc. (NASDAQ:BATRA) saw a large decrease in short interest during the month of December. As of December 31st, there was short interest totaling 273,498 shares, a decrease of 21.1% from the December 15th total of 346,519 shares. Based on an average trading volume of 47,738 shares, the short-interest ratio is presently 5.7 days. Currently, 0.5% of the company’s stock are sold short. Currently, 0.5% of the company’s stock are sold short. Based on an average trading volume of 47,738 shares, the short-interest ratio is presently 5.7 days.

Analysts Set New Price Targets

BATRA has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Atlanta Braves in a research note on Wednesday, October 8th. Zacks Research raised Atlanta Braves from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 1st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $52.50.

Atlanta Braves Trading Up 0.2%

BATRA traded up $0.08 on Friday, hitting $43.27. 50,101 shares of the company were exchanged, compared to its average volume of 44,655. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a fifty day simple moving average of $42.82 and a two-hundred day simple moving average of $44.94. The stock has a market capitalization of $2.72 billion, a PE ratio of -1,081.48 and a beta of 0.63. Atlanta Braves has a 12 month low of $38.67 and a 12 month high of $50.50.

Atlanta Braves (NASDAQ:BATRA) last issued its earnings results on Wednesday, November 5th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.23. Atlanta Braves had a negative net margin of 0.14% and a negative return on equity of 0.19%. The firm had revenue of $311.54 million for the quarter, compared to analysts’ expectations of $309.06 million. Sell-side analysts expect that Atlanta Braves will post -0.98 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder John C. Malone purchased 28,567 shares of the business’s stock in a transaction on Monday, November 17th. The stock was acquired at an average price of $41.97 per share, for a total transaction of $1,198,956.99. Following the purchase, the insider owned 479,972 shares of the company’s stock, valued at approximately $20,144,424.84. This trade represents a 6.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have bought 38,669 shares of company stock valued at $1,623,140. 5.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Murphy Middleton Hinkle & Parker Inc. purchased a new position in shares of Atlanta Braves during the fourth quarter valued at approximately $3,252,000. JPMorgan Chase & Co. increased its position in Atlanta Braves by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 53,211 shares of the financial services provider’s stock valued at $2,420,000 after purchasing an additional 2,428 shares during the period. MRP Capital Investments LLC purchased a new position in Atlanta Braves during the 3rd quarter valued at $988,000. CIBC Private Wealth Group LLC raised its holdings in Atlanta Braves by 145.5% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,726 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 1,023 shares in the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new stake in shares of Atlanta Braves in the 3rd quarter worth about $293,000. Institutional investors own 12.31% of the company’s stock.

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.