Atlanta Braves (NASDAQ:BATRA) Stock Crosses Below 50 Day Moving Average – Time to Sell?

Atlanta Braves Holdings, Inc. (NASDAQ:BATRA)’s stock price passed below its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $56.58 and traded as low as $53.95. Atlanta Braves shares last traded at $54.00, with a volume of 83,015 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Atlanta Braves in a research note on Thursday. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Atlanta Braves has an average rating of “Reduce”.

Atlanta Braves Stock Down 1.2%

The company has a market cap of $3.40 billion, a P/E ratio of -53.47 and a beta of 0.62. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.49 and a quick ratio of 0.49. The stock has a fifty day moving average price of $56.58 and a two-hundred day moving average price of $54.80.

Atlanta Braves (NASDAQ:BATRA) last issued its quarterly earnings results on Wednesday, August 5th. The financial services provider reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.48). The business had revenue of $305.12 million for the quarter, compared to analysts’ expectations of $317.09 million. Atlanta Braves had a negative net margin of 8.56% and a negative return on equity of 7.45%. On average, research analysts expect that Atlanta Braves Holdings, Inc. will post -0.41 EPS for the current year.

Insider Activity

In related news, EVP Derek Gordon Schiller sold 175,395 shares of the firm’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 value of $9,331,014.00. Following the completion of the transaction, the executive vice president directly owned 316,908 shares of the company’s stock, valued at approximately $16,859,505.60. This trade represents a 35.63% decrease in their position. The transaction 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 dated Tuesday, September 29th. The stock was sold at an average price of $53.89, for a total value of $4,325,373.07. Following the sale, the executive vice president directly owned 22,741 shares in the company, valued at $1,225,512.49. This trade represents a 77.92% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Fortitude Family Office LLC purchased a new position in Atlanta Braves in the 3rd quarter worth approximately $163,000. Farther Finance Advisors LLC grew its position in Atlanta Braves by 783.4% in the third quarter. Farther Finance Advisors LLC now owns 1,970 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 1,747 shares in the last quarter. Versant Capital Management Inc increased its stake in Atlanta Braves by 42.2% in the third quarter. Versant Capital Management Inc now owns 1,160 shares of the financial services provider’s stock valued at $67,000 after acquiring an additional 344 shares during the last quarter. State Street Corp increased its stake in Atlanta Braves by 10.6% in the second quarter. State Street Corp now owns 238,949 shares of the financial services provider’s stock valued at $13,455,000 after acquiring an additional 22,888 shares during the last quarter. Finally, Waverly Advisors LLC purchased a new stake in Atlanta Braves during the second quarter valued at about $230,000. Hedge funds and other institutional investors own 12.31% 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 ticket sales, premium seating, sponsorships, media and broadcasting rights, concessions, licensing, retail merchandise, and other game-day and fan-related activities.

The Braves play their home games at Truist Park, which opened in 2017 in Cobb County, Georgia. The company also owns and operates The Battery Atlanta, a mixed-use development adjacent to the ballpark that includes restaurants, retail stores, office space, residences, entertainment venues, and event facilities.