Atlanta Braves (NASDAQ:BATRA) Shares Break Above Fifty Day Moving Average – Time to Sell?

Atlanta Braves Holdings, Inc. (NASDAQ:BATRA)’s stock price crossed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $56.25 and traded as high as $56.59. Atlanta Braves shares last traded at $56.41, with a volume of 48,172 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Atlanta Braves in a report on Thursday, October 15th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Atlanta Braves presently has a consensus rating of “Reduce”.

Atlanta Braves Price Performance

The firm has a market capitalization of $3.55 billion, a P/E ratio of -55.85 and a beta of 0.64. The company has a fifty day moving average of $56.25 and a 200 day moving average of $52.65. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.49 and a quick ratio of 0.49.

Atlanta Braves (NASDAQ:BATRA) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.48). The firm had revenue of $305.12 million for the quarter, compared to the consensus estimate of $317.09 million. Atlanta Braves had a negative return on equity of 7.45% and a negative net margin of 8.56%. Sell-side analysts predict that Atlanta Braves Holdings, Inc. will post -0.41 earnings per share for the current year.

Insider Buying and Selling at Atlanta Braves

In related news, EVP Gregory Heller sold 80,263 shares of the business’s stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $53.89, for a total value of $4,325,373.07. Following the transaction, the executive vice president owned 22,741 shares in the company, valued at $1,225,512.49. The trade was a 77.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Derek Gordon Schiller sold 175,395 shares of the business’s stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $53.20, for a total transaction of $9,331,014.00. Following the completion of the transaction, the executive vice president owned 316,908 shares in the company, valued at approximately $16,859,505.60. The trade was a 35.63% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC grew its position in shares of Atlanta Braves by 36.4% during the 1st quarter. Renaissance Technologies LLC now owns 334,700 shares of the financial services provider’s stock worth $15,781,000 after buying an additional 89,300 shares during the period. State Street Corp increased its stake in shares of Atlanta Braves by 10.6% in the 2nd quarter. State Street Corp now owns 238,949 shares of the financial services provider’s stock valued at $13,455,000 after acquiring an additional 22,888 shares in the last quarter. Quantinno Capital Management LP increased its stake in shares of Atlanta Braves by 45.6% in the 1st quarter. Quantinno Capital Management LP now owns 63,272 shares of the financial services provider’s stock valued at $2,983,000 after acquiring an additional 19,829 shares in the last quarter. Gabelli Funds LLC lifted its position in shares of Atlanta Braves by 1.3% during the 1st quarter. Gabelli Funds LLC now owns 917,332 shares of the financial services provider’s stock valued at $43,252,000 after acquiring an additional 11,932 shares during the period. Finally, Bank of America Corp DE lifted its position in shares of Atlanta Braves by 84.7% during the 1st quarter. Bank of America Corp DE now owns 25,309 shares of the financial services provider’s stock valued at $1,193,000 after acquiring an additional 11,607 shares during the period. 12.31% of the stock is owned by institutional investors.

Atlanta Braves Company Profile

Atlanta Braves Holdings, Inc owns and operates the Atlanta Braves, a Major League Baseball franchise based in Atlanta, Georgia. The organization’s primary activities include professional baseball operations, game-day ticketing, premium seating, sponsorships, broadcasting and digital media, concessions, licensing, and the sale of team merchandise.

The company also owns and operates Truist Park, the Braves’ home stadium, and The Battery Atlanta, a mixed-use development adjacent to the ballpark.