Weiss Ratings Reiterates "Sell (D-)" Rating for Atlanta Braves (NASDAQ:BATRK)

Key Points

• Weiss Ratings has reaffirmed a "Sell (D-)" rating for Atlanta Braves stock (NASDAQ: BATRK), indicating ongoing concerns about the company's performance.
• Atlanta Braves reported an earnings miss for the last quarter, with $0.46 earnings per share compared to analyst expectations of $0.64, although revenue exceeded estimates at $312.44 million.
• Insider activity revealed that Gamco Investors sold 800 shares, reducing their stake by 44.44% as they owned only 1,000 shares post-sale, highlighting potential concerns among major investors.

Atlanta Braves (NASDAQ:BATRK - Get Free Report)'s stock had its "sell (d-)" rating reissued by stock analysts at Weiss Ratings in a report released on Friday,Weiss Ratings reports.

Atlanta Braves Price Performance

Shares of Atlanta Braves stock traded down $0.16 on Friday, hitting $39.43. The company had a trading volume of 216,190 shares, compared to its average volume of 295,533. The company has a market cap of $2.47 billion, a PE ratio of -112.66 and a beta of 0.61. Atlanta Braves has a 52 week low of $35.46 and a 52 week high of $47.18. The business has a 50-day simple moving average of $41.90 and a 200-day simple moving average of $42.34.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last issued its earnings results on Thursday, August 7th. The financial services provider reported $0.46 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.18). The company had revenue of $312.44 million for the quarter, compared to analysts' expectations of $296.36 million. On average, equities research analysts predict that Atlanta Braves will post -0.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Atlanta Braves

In other news, major shareholder Gamco Investors, Inc. Et Al sold 800 shares of Atlanta Braves stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $45.41, for a total transaction of $36,328.00. Following the sale, the insider directly owned 1,000 shares in the company, valued at approximately $45,410. The trade was a 44.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 3,700 shares of company stock worth $167,859. 11.43% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BATRK. Wellington Management Group LLP boosted its holdings in Atlanta Braves by 105.9% during the first quarter. Wellington Management Group LLP now owns 1,348,113 shares of the financial services provider's stock worth $53,938,000 after purchasing an additional 693,351 shares during the last quarter. Dendur Capital LP acquired a new position in shares of Atlanta Braves during the 2nd quarter worth about $20,111,000. Irenic Capital Management LP acquired a new position in shares of Atlanta Braves during the 1st quarter worth about $15,794,000. Broad Bay Capital Management LP increased its stake in shares of Atlanta Braves by 24.3% during the 1st quarter. Broad Bay Capital Management LP now owns 1,732,882 shares of the financial services provider's stock worth $69,333,000 after purchasing an additional 338,655 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of Atlanta Braves during the 1st quarter worth about $8,995,000. Institutional investors and hedge funds own 64.88% of the company's stock.

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.

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