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 report released on Friday morning.

Atlanta Braves Trading Up 2.3 %

Atlanta Braves stock opened at $40.37 on Friday. Atlanta Braves has a twelve month low of $35.81 and a twelve month high of $44.42. The stock’s fifty day simple moving average is $38.56 and its 200-day simple moving average is $39.93. The firm has a market capitalization of $2.05 billion, a P/E ratio of -55.30 and a beta of 0.73.

Atlanta Braves (NASDAQ:BATRK) last posted its quarterly earnings data on Wednesday, February 26th. The financial services provider reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.38. The company had revenue of $52.12 million for the quarter, compared to analysts’ expectations of $48.20 million. Sell-side analysts predict that Atlanta Braves will post -0.89 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder John C. Malone acquired 15,192 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The stock was bought at an average price of $40.62 per share, for a total transaction of $617,099.04. Following the completion of the purchase, the insider now directly 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders bought 44,932 shares of company stock worth $1,864,395.

Hedge Funds Weigh In On Atlanta Braves

Large investors have recently bought and sold shares of the stock. Federated Hermes Inc. acquired a new position in Atlanta Braves in the fourth quarter valued at $40,000. R Squared Ltd acquired a new stake in shares of Atlanta Braves during the fourth quarter worth about $41,000. PNC Financial Services Group Inc. boosted its stake in shares of Atlanta Braves by 25.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,265 shares of the financial services provider’s stock worth $87,000 after buying an additional 463 shares during the period. US Bancorp DE boosted its stake in shares of Atlanta Braves by 17.7% during the fourth quarter. US Bancorp DE now owns 2,862 shares of the financial services provider’s stock worth $110,000 after buying an additional 430 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Atlanta Braves by 687.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,463 shares of the financial services provider’s stock worth $132,000 after buying an additional 3,023 shares during the period. Institutional investors and hedge funds own 64.88% 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.