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

Atlanta Braves Holdings, Inc. (NASDAQ:BATRAGet Free Report) 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 traded.

Analyst Upgrades and Downgrades

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

Read Our Latest Analysis on Atlanta Braves

Atlanta Braves Stock Performance

The company has a 50-day simple moving average of $42.40 and a two-hundred day simple moving average of $42.38. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market capitalization of $2.62 billion, a P/E ratio of -58.10 and a beta of 0.73.

Atlanta Braves (NASDAQ:BATRAGet Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The financial services provider reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.78) by $0.47. The company had revenue of $52.12 million for 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, equities analysts forecast that Atlanta Braves Holdings, Inc. will post -0.98 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder John C. Malone acquired 15,192 shares of Atlanta Braves stock in a transaction that occurred on Wednesday, January 22nd. The stock was bought at an average price of $40.62 per share, with a total value of $617,099.04. Following the transaction, the insider now directly owns 146,020 shares in the company, valued at approximately $5,931,332.40. This represents a 11.61 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders acquired a total of 47,692 shares of company stock worth $1,980,287 in the last three months. 4.83% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Atlanta Braves

A number of institutional investors have recently modified their holdings of the stock. US Bancorp DE purchased a new stake in shares of Atlanta Braves during the third quarter valued at approximately $28,000. KLP Kapitalforvaltning AS purchased a new stake in Atlanta Braves during the 4th quarter valued at $53,000. BNP Paribas Financial Markets bought a new stake in shares of Atlanta Braves in the 4th quarter worth $59,000. PNC Financial Services Group Inc. raised its stake in shares of Atlanta Braves by 157.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,495 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 914 shares during the last quarter. Finally, R Squared Ltd bought a new position in shares of Atlanta Braves during the fourth quarter valued at $96,000. 12.31% of the stock is owned by hedge funds and other institutional investors.

About Atlanta Braves

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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.

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