Atlanta Braves (NASDAQ:BATRK) Share Price Crosses Above Fifty Day Moving Average – Here’s Why

Atlanta Braves Holdings, Inc. (NASDAQ:BATRK)’s share price crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $39.82 and traded as high as $43.30. Atlanta Braves shares last traded at $43.18, with a volume of 497,757 shares traded.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BATRK. Zacks Research lowered Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $69.00 target price on shares of Atlanta Braves in a report on Tuesday, December 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Atlanta Braves in a research report on Monday, December 29th. Finally, Wall Street Zen raised Atlanta Braves from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $57.00.

Atlanta Braves Price Performance

The firm has a 50 day moving average of $39.82 and a 200-day moving average of $40.83. The stock has a market capitalization of $2.23 billion, a P/E ratio of -1,079.23 and a beta of 0.61.

Insider Buying and Selling

In other Atlanta Braves news, major shareholder John C. Malone purchased 35,000 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The stock was purchased at an average price of $44.23 per share, with a total value of $1,548,050.00. Following the completion of the transaction, the insider directly owned 521,862 shares of the company’s stock, valued at approximately $23,081,956.26. This trade represents a 7.19% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired 105,065 shares of company stock valued at $4,511,611 over the last three months. 11.43% of the stock is owned by company insiders.

Hedge Funds Weigh In On Atlanta Braves

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quent Capital LLC acquired a new position in shares of Atlanta Braves in the 3rd quarter worth approximately $28,000. First Horizon Corp bought a new position in Atlanta Braves in the 3rd quarter valued at $30,000. Farther Finance Advisors LLC boosted its stake in Atlanta Braves by 701.1% in the third quarter. Farther Finance Advisors LLC now owns 761 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 666 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Atlanta Braves by 956.1% in the second quarter. EverSource Wealth Advisors LLC now owns 697 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 631 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in shares of Atlanta Braves by 218.3% during the third quarter. Jones Financial Companies Lllp now owns 799 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 548 shares during the last quarter. 64.88% of the stock is currently owned by institutional investors and hedge funds.

About Atlanta Braves

The Atlanta Braves Real Estate Ownership Trust (NASDAQ:BATRK) is a publicly traded real estate investment trust established in 2021 by Liberty Braves Group. The trust’s primary purpose is to own and manage a portfolio of sports and entertainment properties related to the Atlanta Braves baseball franchise. BATRK generates stable rental income by leasing its assets to the Braves Baseball Club, LLC, under long-term lease agreements designed to align property performance with franchise needs.

The trust’s portfolio is anchored by Truist Park, the 41,084-seat baseball stadium that has served as the Braves’ home since 2017.