Atlanta Braves (NASDAQ:BATRK) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Atlanta Braves (NASDAQ:BATRK - Free Report) to a sell rating in a research note published on Friday morning.

Atlanta Braves Trading Down 0.8 %

BATRK stock traded down $0.31 during midday trading on Friday, hitting $39.81. The stock had a trading volume of 367,462 shares, compared to its average volume of 296,514. The firm has a market cap of $2.02 billion, a P/E ratio of -54.53 and a beta of 0.73. The business has a fifty day moving average price of $38.59 and a two-hundred day moving average price of $39.89. Atlanta Braves has a 1-year low of $35.81 and a 1-year high of $44.42.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last announced its earnings results on Wednesday, February 26th. The financial services provider reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.69) by $0.38. The business had revenue of $52.12 million for the quarter, compared to the consensus estimate of $48.20 million. On average, equities analysts anticipate that Atlanta Braves will post -0.89 EPS for the current year.

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Insider Activity at Atlanta Braves

In other news, major shareholder John C. Malone purchased 5,094 shares of the business's stock in a transaction on Monday, January 27th. The shares were acquired at an average price of $41.94 per share, for a total transaction of $213,642.36. Following the completion of the acquisition, the insider now owns 169,522 shares in the company, valued at approximately $7,109,752.68. The trade was a 3.10 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have purchased 44,932 shares of company stock worth $1,864,395 in the last quarter. Company insiders own 11.43% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Federated Hermes Inc. purchased a new stake in shares of Atlanta Braves in the fourth quarter valued at about $40,000. R Squared Ltd purchased a new stake in Atlanta Braves in the 4th quarter valued at about $41,000. PNC Financial Services Group Inc. lifted its position in shares of Atlanta Braves by 25.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,265 shares of the financial services provider's stock worth $87,000 after buying an additional 463 shares in the last quarter. US Bancorp DE boosted its stake in shares of Atlanta Braves by 17.7% in the 4th quarter. US Bancorp DE now owns 2,862 shares of the financial services provider's stock worth $110,000 after buying an additional 430 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Atlanta Braves by 687.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,463 shares of the financial services provider's stock valued at $132,000 after acquiring an additional 3,023 shares in the last quarter. 64.88% of the stock is currently owned by institutional investors and hedge funds.

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.