Atlanta Braves (NASDAQ:BATRA) Share Price Crosses Above 50-Day Moving Average – What’s Next?

Atlanta Braves Holdings, Inc. (NASDAQ:BATRA)’s share price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $46.35 and traded as high as $47.79. Atlanta Braves shares last traded at $47.15, with a volume of 86,180 shares trading hands.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Zacks Research upgraded Atlanta Braves from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Atlanta Braves in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Atlanta Braves currently has a consensus rating of “Hold” and an average target price of $45.00.

Atlanta Braves Stock Up 0.9%

The firm has a market cap of $2.97 billion, a P/E ratio of -120.89 and a beta of 0.55. The firm’s 50 day moving average is $46.35 and its two-hundred day moving average is $44.37. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 1.16.

Atlanta Braves (NASDAQ:BATRA) last issued its earnings results on Wednesday, February 25th. The financial services provider reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.74) by $0.46. The firm had revenue of $61.30 million during the quarter, compared to the consensus estimate of $54.93 million. Atlanta Braves had a negative net margin of 3.19% and a positive return on equity of 0.08%. As a group, research analysts anticipate that Atlanta Braves Holdings, Inc. will post -0.98 EPS for the current fiscal year.

Insider Activity at Atlanta Braves

In other news, major shareholder John C. Malone acquired 35,000 shares of the stock in a transaction that occurred on Thursday, February 5th. The stock was acquired at an average price of $44.23 per share, for a total transaction of $1,548,050.00. Following the transaction, the insider directly owned 521,862 shares in the company, valued at approximately $23,081,956.26. This represents a 7.19% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 5.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BATRA. EverSource Wealth Advisors LLC increased its holdings in shares of Atlanta Braves by 1,873.1% in the second quarter. EverSource Wealth Advisors LLC now owns 513 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 487 shares in the last quarter. Ameritas Advisory Services LLC grew its position in shares of Atlanta Braves by 44.4% in the 3rd quarter. Ameritas Advisory Services LLC now owns 950 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 292 shares during the period. Jones Financial Companies Lllp grew its position in shares of Atlanta Braves by 47.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,233 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 398 shares during the period. State of Wyoming bought a new stake in Atlanta Braves during the 2nd quarter worth approximately $70,000. Finally, CWM LLC increased its stake in Atlanta Braves by 149.5% during the 4th quarter. CWM LLC now owns 1,457 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 873 shares in the last quarter. 12.31% of the stock is owned by institutional investors and hedge funds.

About Atlanta Braves

The Atlanta Braves (NASDAQ: BATRA) are a professional baseball club that competes in Major League Baseball’s National League East division. Founded in 1871 as the Boston Red Stockings, the franchise relocated to Milwaukee in 1953 before settling in Atlanta in 1966. As one of MLB’s oldest and most storied organizations, the Braves are responsible for fielding a Major League team, overseeing player development through a network of minor league affiliates, and managing baseball operations under the leadership of President of Baseball Operations Alex Anthopoulos.

Beyond on‐field performance, the Braves operate a diversified sports and entertainment business.