Atlanta Braves (NASDAQ:BATRA) Share Price Passes Below 50 Day Moving Average - Time to Sell?

Atlanta Braves Holdings, Inc. (NASDAQ:BATRA - Get Free Report)'s stock price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 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.

Wall Street Analyst Weigh In

Separately, Benchmark restated a "buy" rating and issued a $60.00 target price on shares of Atlanta Braves in a report on Thursday, February 27th.

Atlanta Braves Trading Down 0.7 %

The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.12. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of -54.59 and a beta of 0.61. The company has a fifty day simple moving average of $43.22 and a 200-day simple moving average of $42.24.

Atlanta Braves (NASDAQ:BATRA - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The financial services provider reported ($0.31) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.78) by $0.47. Atlanta Braves had a negative net margin of 6.56% and a negative return on equity of 8.48%. The business had revenue of $52.12 million for the quarter, compared to analyst estimates of $48.20 million. On average, research analysts forecast that Atlanta Braves Holdings, Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Activity

In other Atlanta Braves news, major shareholder John C. Malone bought 2,760 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were bought at an average price of $41.99 per share, for a total transaction of $115,892.40. Following the acquisition, the insider now directly owns 214,118 shares of the company's stock, valued at approximately $8,990,814.82. This trade represents a 1.31 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders acquired 47,692 shares of company stock worth $1,980,287 over the last quarter. Corporate insiders own 4.83% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers grew its stake in Atlanta Braves by 5.2% in the first quarter. Rhumbline Advisers now owns 17,228 shares of the financial services provider's stock valued at $756,000 after purchasing an additional 848 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Atlanta Braves by 5,387.2% during the 1st quarter. GAMMA Investing LLC now owns 52,951 shares of the financial services provider's stock valued at $23,230,000 after buying an additional 51,986 shares during the last quarter. Central Pacific Bank Trust Division grew its stake in shares of Atlanta Braves by 2.4% in the 1st quarter. Central Pacific Bank Trust Division now owns 17,000 shares of the financial services provider's stock valued at $746,000 after buying an additional 400 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Atlanta Braves by 11.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,107 shares of the financial services provider's stock worth $698,000 after buying an additional 1,696 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new position in Atlanta Braves during the fourth quarter valued at approximately $210,000. 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.