Atlanta Braves (NASDAQ:BATRK) Share Price Breaks Above 50-Day Moving Average – Time to Sell?

Shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $51.10 and traded as high as $52.01. Atlanta Braves shares last traded at $51.73, with a volume of 580,722 shares traded.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Morgan Stanley cut shares of Atlanta Braves from an “overweight” rating to an “equal weight” rating and set a $54.00 target price on the stock. in a report on Wednesday, July 15th. Rosenblatt Securities lowered their price target on shares of Atlanta Braves from $75.00 to $73.00 and set a “buy” rating for the company in a report on Friday, August 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Atlanta Braves in a report on Monday, September 21st. Finally, Wall Street Zen downgraded shares of Atlanta Braves from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Atlanta Braves currently has a consensus rating of “Hold” and an average price target of $63.50.

Atlanta Braves Stock Up 2.6%

The stock has a market cap of $2.73 billion, a PE ratio of -51.22 and a beta of 0.67. The firm has a fifty day moving average of $51.10 and a 200 day moving average of $48.16.

Atlanta Braves (NASDAQ:BATRK) last posted its quarterly earnings results on Wednesday, August 5th. The financial services provider reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.50). The business had revenue of $305.12 million during the quarter, compared to the consensus estimate of $319.00 million. On average, equities research analysts forecast that Atlanta Braves Holdings, Inc. will post -0.44 EPS for the current fiscal year.

Insider Activity

In other news, EVP Gregory Heller sold 80,263 shares of the stock in a transaction dated 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 owned 22,741 shares in the company, valued at approximately $1,225,512.49. This represents a 77.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Derek Schiller sold 175,395 shares of the firm’s stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $53.20, for a total value of $9,331,014.00. Following the sale, the executive vice president directly owned 316,908 shares in the company, valued at $16,859,505.60. This trade represents a 35.63% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hedge Funds Weigh In On Atlanta Braves

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BATRK. Irenic Capital Management LP purchased a new position in Atlanta Braves in the second quarter valued at approximately $26,209,000. Troluce Capital Advisors LLC raised its holdings in Atlanta Braves by 274.9% during the first quarter. Troluce Capital Advisors LLC now owns 2,000,000 shares of the financial services provider’s stock worth $85,400,000 after purchasing an additional 1,466,584 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Atlanta Braves by 13.2% during the first quarter. Janus Henderson Group PLC now owns 834,765 shares of the financial services provider’s stock worth $35,645,000 after purchasing an additional 97,443 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Atlanta Braves during the 2nd quarter worth approximately $7,265,000. Finally, Baird Financial Group Inc. purchased a new stake in shares of Atlanta Braves during the 2nd quarter worth approximately $8,459,000. 64.88% of the stock is owned by institutional investors and hedge funds.

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 generates revenue through professional baseball operations, including ticket sales, sponsorships, broadcasting and media rights, licensing, concessions, premium seating and hospitality.

The Braves play their home games at Truist Park, which opened in 2017 in Cobb County, northwest of downtown Atlanta. The surrounding Battery Atlanta development provides additional dining, retail, entertainment, office and residential offerings, as well as event and hospitality services, supporting the company’s broader sports and mixed-use real estate activities.

The franchise traces its history to 1871 and has operated in Atlanta since 1966, following earlier periods in Boston and Milwaukee.