Atlanta Braves (NASDAQ:BATRA) Stock Breaks Above Fifty Day Moving Average – What’s Next?

Atlanta Braves Holdings, Inc. (NASDAQ:BATRA) shares passed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $56.25 and traded as high as $56.59. Atlanta Braves shares last traded at $56.41, with a volume of 48,172 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Atlanta Braves in a report on Thursday, October 15th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Atlanta Braves presently has a consensus rating of “Reduce”.

Atlanta Braves Trading Up 2.0%

The firm has a fifty day simple moving average of $56.25 and a 200-day simple moving average of $52.65. The firm has a market cap of $3.55 billion, a P/E ratio of -55.85 and a beta of 0.64. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.49 and a quick ratio of 0.49.

Atlanta Braves (NASDAQ:BATRA) last released its quarterly earnings data on Wednesday, August 5th. The financial services provider reported ($0.19) EPS for the quarter, missing the consensus estimate of $0.29 by ($0.48). The firm had revenue of $305.12 million for the quarter, compared to the consensus estimate of $317.09 million. Atlanta Braves had a negative net margin of 8.56% and a negative return on equity of 7.45%. On average, equities research analysts expect that Atlanta Braves Holdings, Inc. will post -0.41 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Gregory Heller sold 80,263 shares of the stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of $53.89, for a total value of $4,325,373.07. Following the transaction, the executive vice president directly owned 22,741 shares in the company, valued at $1,225,512.49. This trade represents a 77.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Derek Gordon Schiller sold 175,395 shares of Atlanta Braves stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $53.20, for a total transaction of $9,331,014.00. Following the completion of the sale, the executive vice president directly owned 316,908 shares of the company’s stock, valued at approximately $16,859,505.60. The trade was a 35.63% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BATRA. Gabelli Funds LLC grew its holdings in shares of Atlanta Braves by 1.3% during the first quarter. Gabelli Funds LLC now owns 917,332 shares of the financial services provider’s stock valued at $43,252,000 after buying an additional 11,932 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Atlanta Braves by 36.4% during the first quarter. Renaissance Technologies LLC now owns 334,700 shares of the financial services provider’s stock worth $15,781,000 after acquiring an additional 89,300 shares in the last quarter. State Street Corp raised its holdings in shares of Atlanta Braves by 10.6% in the 2nd quarter. State Street Corp now owns 238,949 shares of the financial services provider’s stock worth $13,455,000 after acquiring an additional 22,888 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Atlanta Braves by 5.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 221,916 shares of the financial services provider’s stock worth $10,463,000 after acquiring an additional 11,392 shares during the last quarter. Finally, Hudson Value Partners LLC raised its holdings in shares of Atlanta Braves by 7.2% in the 2nd quarter. Hudson Value Partners LLC now owns 96,702 shares of the financial services provider’s stock worth $5,445,000 after acquiring an additional 6,525 shares during the last quarter. 12.31% of the stock is owned by institutional investors.

Atlanta Braves Company Profile

Atlanta Braves Holdings, Inc owns and operates the Atlanta Braves, a Major League Baseball franchise based in Atlanta, Georgia. The organization’s primary activities include professional baseball operations, game-day ticketing, premium seating, sponsorships, broadcasting and digital media, concessions, licensing, and the sale of team merchandise.

The company also owns and operates Truist Park, the Braves’ home stadium, and The Battery Atlanta, a mixed-use development adjacent to the ballpark.