Atlanta Braves (NASDAQ:BATRA) Share Price Passes Below 50 Day Moving Average - What's Next?

Shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRA - Get Free Report) passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $55.67 and traded as low as $54.75. Atlanta Braves shares last traded at $56.00, with a volume of 76,349 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Atlanta Braves in a research note on Friday, July 17th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce".

Atlanta Braves Trading Up 1.3%

The firm has a 50-day moving average of $55.67 and a 200-day moving average of $53.28. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.49 and a current ratio of 0.49. The firm has a market capitalization of $3.52 billion, a P/E ratio of -55.45 and a beta of 0.64.

Atlanta Braves (NASDAQ:BATRA - Get Free Report) last announced its quarterly earnings data 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). Atlanta Braves had a negative net margin of 8.56% and a negative return on equity of 7.45%. The company had revenue of $305.12 million during the quarter, compared to the consensus estimate of $317.09 million. On average, equities research analysts anticipate that Atlanta Braves Holdings, Inc. will post -0.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Atlanta Braves

A number of hedge funds have recently modified their holdings of the company. Gabelli Funds LLC increased its holdings in 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 purchasing an additional 11,932 shares during the period. Renaissance Technologies LLC lifted its stake in Atlanta Braves by 36.4% in the first quarter. Renaissance Technologies LLC now owns 334,700 shares of the financial services provider's stock worth $15,781,000 after acquiring an additional 89,300 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in Atlanta Braves by 490,606.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 245,353 shares of the financial services provider's stock worth $10,425,000 after acquiring an additional 245,303 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Atlanta Braves by 5.4% in the first quarter. Dimensional Fund Advisors LP now owns 221,916 shares of the financial services provider's stock valued at $10,463,000 after acquiring an additional 11,392 shares in the last quarter. Finally, Roundview Capital LLC boosted its holdings in Atlanta Braves by 12.7% in the fourth quarter. Roundview Capital LLC now owns 177,528 shares of the financial services provider's stock valued at $7,543,000 after acquiring an additional 20,052 shares in the last quarter. Hedge funds and other institutional investors own 12.31% of the company's stock.

About Atlanta Braves

Atlanta Braves Holdings, Inc owns and operates the Atlanta Braves, a Major League Baseball franchise based in Atlanta, Georgia. The Braves compete in MLB's National League East and generate revenue through ticket sales, premium seating, sponsorships, broadcasting and digital rights, licensing, merchandise, concessions, and other team-related activities.

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

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