Atlanta Braves (NASDAQ:BATRK) Upgraded to “Sell” at StockNews.com

StockNews.com upgraded shares of Atlanta Braves (NASDAQ:BATRK) to a sell rating in a research report released on Friday.

Atlanta Braves Trading Up 2.3 %

BATRK stock opened at $40.37 on Friday. Atlanta Braves has a 12-month low of $35.81 and a 12-month high of $44.42. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of -55.30 and a beta of 0.73. The business’s 50-day moving average is $38.56 and its 200 day moving average is $39.93.

Atlanta Braves (NASDAQ:BATRK) last issued its earnings results on Wednesday, February 26th. The financial services provider reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.69) by $0.38. The company had revenue of $52.12 million for the quarter, compared to analyst estimates of $48.20 million. As a group, equities analysts forecast that Atlanta Braves will post -0.89 EPS for the current fiscal year.

Insider Transactions at Atlanta Braves

In other Atlanta Braves news, major shareholder John C. Malone acquired 15,192 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were purchased at an average cost of $40.62 per share, for a total transaction of $617,099.04. Following the completion of the acquisition, the insider now owns 146,020 shares of the company’s stock, valued at approximately $5,931,332.40. The trade was a 11.61 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have purchased a total of 44,932 shares of company stock worth $1,864,395 in the last ninety days.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BATRK. Aristeia Capital L.L.C. raised its position in Atlanta Braves by 34.5% in the fourth quarter. Aristeia Capital L.L.C. now owns 2,414,362 shares of the financial services provider’s stock valued at $92,373,000 after purchasing an additional 618,887 shares during the period. T. Rowe Price Investment Management Inc. raised its position in Atlanta Braves by 256.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,690,889 shares of the financial services provider’s stock valued at $64,694,000 after purchasing an additional 1,215,948 shares during the period. Gamco Investors INC. ET AL raised its position in Atlanta Braves by 1.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 1,457,676 shares of the financial services provider’s stock valued at $55,771,000 after purchasing an additional 21,659 shares during the period. Gabelli Funds LLC raised its position in Atlanta Braves by 0.5% in the fourth quarter. Gabelli Funds LLC now owns 1,420,494 shares of the financial services provider’s stock valued at $54,348,000 after purchasing an additional 6,375 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Atlanta Braves by 5.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 817,798 shares of the financial services provider’s stock valued at $31,288,000 after purchasing an additional 40,827 shares during the period. 64.88% of the stock is currently owned by institutional investors and hedge funds.

About Atlanta Braves

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.