Atlanta Braves (NASDAQ:BATRK) Stock Price Crosses Below 50 Day Moving Average - Here's What Happened

Key Points

• Atlanta Braves shares fell below their 50-day moving average of $51.48, reaching $50.37 before last trading at $51.27 on volume of 603,022 shares.
• Analyst sentiment is mixed, with an average “Hold” rating and a $63.50 price target. Morgan Stanley downgraded the stock to “Equal Weight,” while Rosenblatt maintained a “Buy” rating despite lowering its target to $73.
• The company reported a quarterly loss of $0.19 per share, missing estimates by $0.50, while revenue of $305.12 million also fell short of expectations. Institutional investors own approximately 64.88% of the stock.

Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Get Free Report) shares passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $51.48 and traded as low as $50.37. Atlanta Braves shares last traded at $51.27, with a volume of 603,022 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BATRK shares. Morgan Stanley cut shares of Atlanta Braves from an "overweight" rating to an "equal weight" rating and set a $54.00 price target on the stock. in a report on Wednesday, July 15th. Wall Street Zen lowered Atlanta Braves from a "hold" rating to a "strong sell" rating in a report on Saturday, August 8th. Rosenblatt Securities decreased their target price on Atlanta Braves from $75.00 to $73.00 and set a "buy" rating for the company in a research report on Friday, August 7th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Atlanta Braves in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $63.50.

Atlanta Braves Stock Performance

The business's 50 day moving average is $51.48 and its two-hundred day moving average is $48.42. The firm has a market capitalization of $2.71 billion, a PE ratio of -50.76 and a beta of 0.67.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last posted its 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 business had revenue of $305.12 million during the quarter, compared to analysts' expectations of $319.00 million. As a group, equities research analysts predict that Atlanta Braves Holdings, Inc. will post -0.44 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System increased its holdings in Atlanta Braves by 5,002.6% during the 2nd quarter. California State Teachers Retirement System now owns 2,406,707 shares of the financial services provider's stock worth $124,908,000 after acquiring an additional 2,359,541 shares during the period. Troluce Capital Advisors LLC boosted its holdings in Atlanta Braves by 274.9% in the 1st 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 position in shares of Atlanta Braves during the 2nd quarter valued at $26,209,000. Hawk Ridge Capital Management LP increased its holdings in shares of Atlanta Braves by 16.5% in the fourth quarter. Hawk Ridge Capital Management LP now owns 2,661,429 shares of the financial services provider's stock worth $104,993,000 after purchasing an additional 377,307 shares during the period. Finally, Qube Research & Technologies Ltd increased its holdings in shares of Atlanta Braves by 504.1% in the third quarter. Qube Research & Technologies Ltd now owns 436,158 shares of the financial services provider's stock worth $18,140,000 after purchasing an additional 363,953 shares during the period. Hedge funds and other institutional investors own 64.88% of the company's stock.

Atlanta Braves Company Profile

The Atlanta Braves Real Estate Ownership Trust NASDAQ: BATRK is a publicly traded real estate investment trust established in 2021 by Liberty Braves Group. The trust's primary purpose is to own and manage a portfolio of sports and entertainment properties related to the Atlanta Braves baseball franchise. BATRK generates stable rental income by leasing its assets to the Braves Baseball Club, LLC, under long-term lease agreements designed to align property performance with franchise needs.

The trust's portfolio is anchored by Truist Park, the 41,084-seat baseball stadium that has served as the Braves' home since 2017.

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