Atlanta Braves (NASDAQ:BATRA) Stock Breaks Below 50-Day Moving Average – Here’s What Happened

Atlanta Braves Holdings, Inc. (NASDAQ:BATRA) shares crossed below its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $56.58 and traded as low as $53.95. Atlanta Braves shares last traded at $54.00, with a volume of 83,015 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Atlanta Braves in a research note on Thursday. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

Atlanta Braves Stock Performance

The stock has a market cap of $3.40 billion, a P/E ratio of -53.47 and a beta of 0.62. The business has a 50 day moving average price of $56.58 and a 200 day moving average price of $54.80. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.06.

Atlanta Braves (NASDAQ:BATRA) last issued its quarterly earnings results on Wednesday, August 5th. The financial services provider reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.48). Atlanta Braves had a negative return on equity of 7.45% and a negative net margin of 8.56%. The business had revenue of $305.12 million during the quarter, compared to analysts’ expectations of $317.09 million. As a group, sell-side analysts expect that Atlanta Braves Holdings, Inc. will post -0.41 EPS for the current year.

Insider Buying and Selling at Atlanta Braves

In other Atlanta Braves 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 sale, the executive vice president owned 22,741 shares in the company, valued at $1,225,512.49. This trade represents a 77.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 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 owned 316,908 shares of the company’s stock, valued at approximately $16,859,505.60. This trade represents a 35.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BATRA. Fortitude Family Office LLC bought a new position in Atlanta Braves in the 3rd quarter worth about $163,000. Farther Finance Advisors LLC increased its position in shares of Atlanta Braves by 783.4% during the third quarter. Farther Finance Advisors LLC now owns 1,970 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 1,747 shares during the period. Versant Capital Management Inc raised its stake in shares of Atlanta Braves by 42.2% during the third quarter. Versant Capital Management Inc now owns 1,160 shares of the financial services provider’s stock valued at $67,000 after acquiring an additional 344 shares in the last quarter. State Street Corp raised its stake in shares of Atlanta Braves by 10.6% during the second quarter. State Street Corp now owns 238,949 shares of the financial services provider’s stock valued at $13,455,000 after acquiring an additional 22,888 shares in the last quarter. Finally, Waverly Advisors LLC bought a new stake in shares of Atlanta Braves during the second quarter valued at approximately $230,000. 12.31% of the stock is currently 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 generates revenue through ticket sales, premium seating, sponsorships, media and broadcasting rights, concessions, licensing, retail merchandise, and other game-day and fan-related activities.

The Braves play their home games at Truist Park, which opened in 2017 in Cobb County, Georgia. The company also owns and operates The Battery Atlanta, a mixed-use development adjacent to the ballpark that includes restaurants, retail stores, office space, residences, entertainment venues, and event facilities.