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

Atlanta Braves Holdings, Inc. (NASDAQ:BATRA - Get Free Report)'s stock price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $43.34 and traded as low as $42.90. Atlanta Braves shares last traded at $43.32, with a volume of 45,818 shares.

Wall Street Analysts Forecast Growth

Separately, Benchmark reaffirmed a "buy" rating and issued a $60.00 target price on shares of Atlanta Braves in a research report on Thursday, February 27th.

Atlanta Braves Price Performance

The company has a debt-to-equity ratio of 1.12, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of -56.55 and a beta of 0.61. The stock has a 50 day moving average price of $43.34 and a two-hundred day moving average price of $42.34.

Atlanta Braves (NASDAQ:BATRA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The financial services provider reported ($0.31) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.78) by $0.47. The company had revenue of $52.12 million for the quarter, compared to analyst estimates of $48.20 million. Atlanta Braves had a negative net margin of 6.56% and a negative return on equity of 8.48%. As a group, analysts expect that Atlanta Braves Holdings, Inc. will post -0.98 EPS for the current year.

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Insider Buying and Selling at Atlanta Braves

In related news, major shareholder John C. Malone bought 15,192 shares of the firm's stock in a transaction that occurred on Wednesday, January 22nd. The stock was purchased at an average cost of $40.62 per share, for a total transaction of $617,099.04. Following the completion of the acquisition, the insider now owns 146,020 shares in the company, valued at approximately $5,931,332.40. This trade represents a 11.61 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders acquired 47,692 shares of company stock valued at $1,980,287 in the last 90 days. Company insiders own 4.83% of the company's stock.

Institutional Investors Weigh In On Atlanta Braves

Hedge funds have recently bought and sold shares of the stock. KLP Kapitalforvaltning AS acquired a new position in shares of Atlanta Braves during the fourth quarter worth $53,000. BNP Paribas Financial Markets acquired a new position in shares of Atlanta Braves during the 4th quarter worth about $59,000. PNC Financial Services Group Inc. increased its holdings in shares of Atlanta Braves by 157.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,495 shares of the financial services provider's stock valued at $61,000 after acquiring an additional 914 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Atlanta Braves during the 4th quarter worth about $96,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Atlanta Braves in the third quarter valued at approximately $133,000. Institutional investors and hedge funds own 12.31% 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.