Insider Selling: Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) EVP Sells 69,000 Shares of Stock

Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Get Free Report) EVP Michael P. Plant sold 69,000 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $43.00, for a total value of $2,967,000.00. Following the transaction, the executive vice president now owns 205,593 shares of the company's stock, valued at approximately $8,840,499. This trade represents a 25.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Atlanta Braves Stock Down 1.5%

BATRK stock traded down $0.65 during mid-day trading on Friday, reaching $42.51. The company had a trading volume of 244,550 shares, compared to its average volume of 286,045. The stock has a market capitalization of $2.18 billion, a P/E ratio of -58.23 and a beta of 0.54. Atlanta Braves Holdings, Inc. has a one year low of $35.46 and a one year high of $44.43. The stock's 50-day simple moving average is $40.08 and its two-hundred day simple moving average is $39.38.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last posted its earnings results on Monday, May 12th. The financial services provider reported ($0.66) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.94) by $0.28. The company had revenue of $47.21 million during the quarter, compared to the consensus estimate of $36.87 million. On average, research analysts forecast that Atlanta Braves Holdings, Inc. will post -0.89 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on BATRK. Wall Street Zen upgraded Atlanta Braves from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Citigroup began coverage on Atlanta Braves in a research note on Friday. They set a "neutral" rating and a $45.00 price objective on the stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. CWM LLC increased its holdings in shares of Atlanta Braves by 56.4% during the first quarter. CWM LLC now owns 824 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 297 shares during the period. Comerica Bank increased its holdings in shares of Atlanta Braves by 44.8% during the first quarter. Comerica Bank now owns 1,031 shares of the financial services provider's stock valued at $41,000 after purchasing an additional 319 shares during the period. Federated Hermes Inc. acquired a new position in shares of Atlanta Braves during the fourth quarter valued at $40,000. Summit Securities Group LLC acquired a new position in shares of Atlanta Braves during the first quarter valued at $60,000. Finally, Versant Capital Management Inc increased its holdings in shares of Atlanta Braves by 335.7% during the first quarter. Versant Capital Management Inc now owns 1,817 shares of the financial services provider's stock valued at $73,000 after purchasing an additional 1,400 shares during the period. 64.88% of the stock is owned by institutional investors and hedge funds.

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.