Atlanta Braves (NASDAQ:BATRA) Share Price Crosses Below 50 Day Moving Average – Here’s What Happened

Atlanta Braves Holdings, Inc. (NASDAQ:BATRA)’s share price crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $42.40 and traded as low as $42.04. Atlanta Braves shares last traded at $42.41, with a volume of 24,669 shares traded.

Analysts Set New Price Targets

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

Atlanta Braves Stock Performance

The stock’s 50 day simple moving average is $42.46 and its two-hundred day simple moving average is $42.36. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market cap of $2.69 billion, a P/E ratio of -59.52 and a beta of 0.73.

Atlanta Braves (NASDAQ:BATRA) last issued its earnings results on Wednesday, February 26th. The financial services provider reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.47. Atlanta Braves had a negative net margin of 6.56% and a negative return on equity of 8.48%. The business had revenue of $52.12 million for the quarter, compared to the consensus estimate of $48.20 million. As a group, research analysts forecast that Atlanta Braves Holdings, Inc. will post -0.98 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder John C. Malone acquired 24,646 shares of the stock in a transaction dated Wednesday, January 29th. The stock was bought at an average price of $41.94 per share, with a total value of $1,033,653.24. Following the completion of the purchase, the insider now directly owns 211,358 shares of the company’s stock, valued at $8,864,354.52. This represents a 13.20 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders bought 47,692 shares of company stock valued at $1,980,287 over the last quarter. 4.83% of the stock is owned by company insiders.

Institutional Trading of Atlanta Braves

Several large investors have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Atlanta Braves by 11.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,107 shares of the financial services provider’s stock valued at $698,000 after acquiring an additional 1,696 shares in the last quarter. Squarepoint Ops LLC purchased a new position in Atlanta Braves during the 4th quarter valued at about $210,000. Nuveen Asset Management LLC boosted its position in shares of Atlanta Braves by 1.5% during the 4th quarter. Nuveen Asset Management LLC now owns 36,354 shares of the financial services provider’s stock valued at $1,483,000 after acquiring an additional 540 shares during the last quarter. Occudo Quantitative Strategies LP bought a new stake in Atlanta Braves in the 4th quarter worth approximately $220,000. Finally, Ionic Capital Management LLC bought a new stake in Atlanta Braves in the 4th quarter worth approximately $197,000. Institutional investors and hedge funds 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.