Atlanta Braves (NASDAQ:BATRA) Share Price Passes Below 50 Day Moving Average – Here’s Why

Atlanta Braves Holdings, Inc. (NASDAQ:BATRA) shares crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $42.40 and traded as low as $42.04. Atlanta Braves shares last traded at $42.41, with a volume of 24,669 shares changing hands.

Analyst Ratings Changes

Separately, Benchmark restated a “buy” rating and issued a $60.00 price target on shares of Atlanta Braves in a research report on Thursday, February 27th.

Atlanta Braves Price Performance

The company has a market cap of $2.69 billion, a PE ratio of -59.52 and a beta of 0.73. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.12. The firm has a 50 day simple moving average of $42.46 and a 200-day simple moving average of $42.36.

Atlanta Braves (NASDAQ:BATRA) last posted its quarterly earnings data on Wednesday, February 26th. The financial services provider reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.47. The business had revenue of $52.12 million during the quarter, compared to analysts’ expectations of $48.20 million. Atlanta Braves had a negative return on equity of 8.48% and a negative net margin of 6.56%. As a group, research analysts predict that Atlanta Braves Holdings, Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Transactions at Atlanta Braves

In related news, major shareholder John C. Malone bought 5,094 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The shares were acquired at an average cost of $41.94 per share, for a total transaction of $213,642.36. Following the acquisition, the insider now owns 169,522 shares in the company, valued at $7,109,752.68. This represents a 3.10 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders purchased 47,692 shares of company stock worth $1,980,287 over the last 90 days. 4.83% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. US Bancorp DE acquired a new stake in shares of Atlanta Braves in the third quarter valued at $28,000. Quest Partners LLC increased its position in Atlanta Braves by 62.9% in the 3rd quarter. Quest Partners LLC now owns 5,312 shares of the financial services provider’s stock worth $224,000 after purchasing an additional 2,052 shares during the last quarter. Brown Brothers Harriman & Co. increased its holdings in shares of Atlanta Braves by 460.9% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 2,653 shares of the financial services provider’s stock valued at $112,000 after acquiring an additional 2,180 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Atlanta Braves by 24.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,411 shares of the financial services provider’s stock valued at $650,000 after acquiring an additional 3,074 shares during the last quarter. Finally, State Street Corp boosted its stake in Atlanta Braves by 1.3% during the 3rd quarter. State Street Corp now owns 266,968 shares of the financial services provider’s stock valued at $11,253,000 after purchasing an additional 3,432 shares during the period. Institutional investors and hedge funds own 12.31% of the company’s stock.

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.