Atlanta Braves (NASDAQ:BATRA) Shares Cross Above 50 Day Moving Average – What’s Next?

Atlanta Braves Holdings, Inc. (NASDAQ:BATRA) shares crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $43.35 and traded as high as $47.65. Atlanta Braves shares last traded at $47.65, with a volume of 77,151 shares.

Analysts Set New Price Targets

BATRA has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Atlanta Braves in a research report on Wednesday, January 21st. Zacks Research lowered Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. One 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. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $52.50.

Atlanta Braves Price Performance

The company has a debt-to-equity ratio of 1.32, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of -1,190.95 and a beta of 0.63. The business’s fifty day simple moving average is $43.35 and its 200 day simple moving average is $44.19.

Insider Activity at Atlanta Braves

In other news, major shareholder John C. Malone purchased 35,000 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The shares were acquired at an average cost of $44.23 per share, with a total value of $1,548,050.00. Following the purchase, the insider owned 521,862 shares in the company, valued at $23,081,956.26. This represents a 7.19% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders bought 76,498 shares of company stock valued at $3,312,654. Company insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Atlanta Braves

Several hedge funds and other institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Atlanta Braves by 1,873.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 513 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 487 shares in the last quarter. Ameritas Advisory Services LLC boosted its stake in Atlanta Braves by 44.4% during 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 last quarter. Nisa Investment Advisors LLC increased its holdings in Atlanta Braves by 48.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,007 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 329 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Atlanta Braves by 47.7% in the third quarter. Jones Financial Companies Lllp now owns 1,233 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 398 shares during the last quarter. Finally, State of Wyoming bought a new position in shares of Atlanta Braves in the second quarter valued at approximately $70,000. Institutional investors own 12.31% of the company’s stock.

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.