Atlanta Braves (NASDAQ:BATRK) Share Price Breaks Above Fifty Day Moving Average - Should You Sell?

Key Points

• BATRK rose above its 50-day moving average: Shares traded at $51.73, versus a 50-day average of $51.10, and a 200-day average of $48.16.
• Analyst views are mixed: The consensus rating is “Hold,” with an average price target of $63.50; ratings range from Buy to Sell.
• Recent results fell short of expectations: Atlanta Braves reported a quarterly loss of $0.19 per share versus estimates for earnings of $0.31, and revenue of $305.12 million versus forecasts of $319 million. Two executives also sold shares under pre-arranged trading plans.

Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Get Free Report)'s stock price crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $51.10 and traded as high as $52.01. Atlanta Braves shares last traded at $51.73, with a volume of 580,722 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on BATRK shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Atlanta Braves in a research report on Monday, September 21st. Wall Street Zen cut shares of Atlanta Braves from a "hold" rating to a "strong sell" rating in a research report on Saturday, August 8th. Morgan Stanley cut shares of Atlanta Braves from an "overweight" rating to an "equal weight" rating and set a $54.00 price target for the company. in a research report on Wednesday, July 15th. Finally, Rosenblatt Securities reduced their price target on shares of Atlanta Braves from $75.00 to $73.00 and set a "buy" rating on the stock in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Atlanta Braves presently has an average rating of "Hold" and an average price target of $63.50.

Atlanta Braves Price Performance

The company has a market capitalization of $2.73 billion, a PE ratio of -51.22 and a beta of 0.67. The stock's 50 day simple moving average is $51.10 and its 200-day simple moving average is $48.16.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The financial services provider reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.50). The firm had revenue of $305.12 million for the quarter, compared to analyst estimates of $319.00 million. On average, equities analysts predict that Atlanta Braves Holdings, Inc. will post -0.44 earnings per share for the current year.

Insider Activity at Atlanta Braves

In related news, EVP Derek Schiller sold 175,395 shares of the company's stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $53.20, for a total transaction of $9,331,014.00. Following the sale, the executive vice president directly owned 316,908 shares of the company's stock, valued at $16,859,505.60. This represents a 35.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gregory Heller sold 80,263 shares of the stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $53.89, for a total transaction of $4,325,373.07. Following the sale, the executive vice president owned 22,741 shares in the company, valued at approximately $1,225,512.49. This trade represents a 77.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Trading of Atlanta Braves

A number of large investors have recently modified their holdings of BATRK. Troluce Capital Advisors LLC boosted its holdings in Atlanta Braves by 274.9% in the first quarter. Troluce Capital Advisors LLC now owns 2,000,000 shares of the financial services provider's stock valued at $85,400,000 after purchasing an additional 1,466,584 shares during the period. Irenic Capital Management LP purchased a new stake in Atlanta Braves during the 2nd quarter worth about $26,209,000. Southpoint Capital Advisors LP raised its position in Atlanta Braves by 28.6% in the 1st quarter. Southpoint Capital Advisors LP now owns 900,000 shares of the financial services provider's stock valued at $38,430,000 after purchasing an additional 200,000 shares in the last quarter. Baird Financial Group Inc. acquired a new stake in Atlanta Braves in the 2nd quarter valued at about $8,459,000. Finally, Ancora Advisors LLC acquired a new stake in Atlanta Braves in the 2nd quarter valued at about $8,163,000. Hedge funds and other institutional investors own 64.88% of the company's stock.

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 professional baseball operations, including ticket sales, sponsorships, broadcasting and media rights, licensing, concessions, premium seating and hospitality.

The Braves play their home games at Truist Park, which opened in 2017 in Cobb County, northwest of downtown Atlanta. The surrounding Battery Atlanta development provides additional dining, retail, entertainment, office and residential offerings, as well as event and hospitality services, supporting the company's broader sports and mixed-use real estate activities.

The franchise traces its history to 1871 and has operated in Atlanta since 1966, following earlier periods in Boston and Milwaukee.

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