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

Atlanta Braves Holdings, Inc. (NASDAQ:BATRA) 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.

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:BATRA) 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

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.