Atlanta Braves (NASDAQ:BATRA) EVP Sells $9,331,014.00 in Stock

Key Points

• EVP Derek Gordon Schiller sold 175,395 BATRA shares at an average price of $53.20, generating $9.33 million. The Rule 10b5-1 transaction reduced his holdings by 35.63% to 316,908 shares.
• Atlanta Braves shares recently traded at $57.84, near the upper end of their $41.50–$60.48 one-year range. The company reported a quarterly loss of $0.19 per share and revenue of $305.12 million, missing analyst expectations on both measures.
• Analyst sentiment remains negative, with ratings of Hold and Sell producing a consensus “Reduce” rating; institutional investors own 12.31% of the stock.

Atlanta Braves Holdings, Inc. (NASDAQ:BATRA - Get Free Report) EVP Derek Gordon Schiller sold 175,395 shares of the stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $53.20, for a total transaction of $9,331,014.00. Following the completion of the sale, the executive vice president owned 316,908 shares in the company, valued at $16,859,505.60. This represents a 35.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Atlanta Braves Price Performance

NASDAQ:BATRA traded down $0.19 during trading hours on Thursday, hitting $57.84. The stock had a trading volume of 82,806 shares, compared to its average volume of 64,438. The company has a 50 day simple moving average of $55.95 and a two-hundred day simple moving average of $54.02. The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of -57.27 and a beta of 0.64. 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 Holdings, Inc. has a one year low of $41.50 and a one year high of $60.48.

Atlanta Braves (NASDAQ:BATRA - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.48). The firm had revenue of $305.12 million during 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%. Research analysts forecast that Atlanta Braves Holdings, Inc. will post -0.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Atlanta Braves in a report on Friday, July 17th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Reduce".

Institutional Trading of Atlanta Braves

Hedge funds have recently made changes to their positions in the stock. Sapient Capital LLC boosted its stake in shares of Atlanta Braves by 1.6% during the first quarter. Sapient Capital LLC now owns 11,604 shares of the financial services provider's stock valued at $547,000 after purchasing an additional 188 shares during the period. Grove Bank & Trust purchased a new position in shares of Atlanta Braves in the second quarter worth $28,000. Royal Bank of Canada increased its stake in shares of Atlanta Braves by 4.6% in the first quarter. Royal Bank of Canada now owns 12,428 shares of the financial services provider's stock worth $585,000 after buying an additional 546 shares during the period. Nykredit A S bought a new stake in Atlanta Braves during the 2nd quarter valued at $87,000. Finally, Aurora Investment Counsel raised its holdings in Atlanta Braves by 5.0% during the 4th quarter. Aurora Investment Counsel now owns 47,437 shares of the financial services provider's stock valued at $2,016,000 after buying an additional 2,265 shares during the last quarter. 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 generates revenue through ticket sales, premium seating, sponsorships, media and broadcasting rights, concessions, licensing, retail merchandise, and other game-day and fan-related activities.

The Braves play their home games at Truist Park, which opened in 2017 in Cobb County, Georgia. The company also owns and operates The Battery Atlanta, a mixed-use development adjacent to the ballpark that includes restaurants, retail stores, office space, residences, entertainment venues, and event facilities.

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