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

Atlanta Braves Holdings, Inc. (NASDAQ:BATRA) shares passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $43.34 and traded as low as $42.90. Atlanta Braves shares last traded at $43.32, with a volume of 45,818 shares changing hands.

Analyst Upgrades and Downgrades

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

Atlanta Braves Stock Down 4.7 %

The stock has a 50-day moving average of $43.34 and a 200 day moving average of $42.34. 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 company has a market capitalization of $2.55 billion, a PE ratio of -56.55 and a beta of 0.61.

Atlanta Braves (NASDAQ:BATRA) last released its earnings results on Wednesday, February 26th. The financial services provider reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates 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%. Sell-side analysts anticipate that Atlanta Braves Holdings, Inc. will post -0.98 EPS for the current year.

Insider Buying and Selling at Atlanta Braves

In other news, major shareholder John C. Malone acquired 2,760 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average cost of $41.99 per share, for a total transaction of $115,892.40. Following the purchase, the insider now owns 214,118 shares of the company’s stock, valued at approximately $8,990,814.82. The trade was a 1.31 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have purchased a total of 47,692 shares of company stock worth $1,980,287 over the last three months. 4.83% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Atlanta Braves

Several large investors have recently modified their holdings of the business. Cutter & CO Brokerage Inc. bought a new position in Atlanta Braves in the 4th quarter worth approximately $390,000. Barclays PLC grew its position in shares of Atlanta Braves by 376.1% in the third quarter. Barclays PLC now owns 16,172 shares of the financial services provider’s stock valued at $681,000 after purchasing an additional 12,775 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Atlanta Braves during the 4th quarter valued at $901,000. Geode Capital Management LLC raised its stake in shares of Atlanta Braves by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 280,331 shares of the financial services provider’s stock valued at $11,817,000 after purchasing an additional 3,798 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in 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 worth $650,000 after purchasing an additional 3,074 shares in the last quarter. Hedge funds and other institutional investors 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.