Atlanta Braves (NASDAQ:BATRA) Shares Pass Below Fifty Day Moving Average – Here’s What Happened

Shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRA) passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $55.67 and traded as low as $54.75. Atlanta Braves shares last traded at $56.00, with a volume of 76,349 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Atlanta Braves in a report on Friday, July 17th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Atlanta Braves has an average rating of “Reduce”.

Atlanta Braves Price Performance

The stock has a market cap of $3.52 billion, a PE ratio of -55.32 and a beta of 0.64. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.06. The company’s fifty day moving average is $55.66 and its 200 day moving average is $53.33.

Atlanta Braves (NASDAQ:BATRA) last issued its quarterly earnings data 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). Atlanta Braves had a negative return on equity of 7.45% and a negative net margin of 8.56%.The company had revenue of $305.12 million for the quarter, compared to analyst estimates of $317.09 million. As a group, sell-side analysts anticipate that Atlanta Braves Holdings, Inc. will post -0.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Atlanta Braves

Institutional investors have recently added to or reduced their stakes in the company. Gabelli Funds LLC lifted its stake in shares of Atlanta Braves by 1.3% in the first quarter. Gabelli Funds LLC now owns 917,332 shares of the financial services provider’s stock worth $43,252,000 after acquiring an additional 11,932 shares in the last quarter. Renaissance Technologies LLC grew its stake in Atlanta Braves by 36.4% during the 1st quarter. Renaissance Technologies LLC now owns 334,700 shares of the financial services provider’s stock valued at $15,781,000 after purchasing an additional 89,300 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Atlanta Braves by 490,606.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 245,353 shares of the financial services provider’s stock valued at $10,425,000 after purchasing an additional 245,303 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Atlanta Braves by 5.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 221,916 shares of the financial services provider’s stock valued at $10,463,000 after buying an additional 11,392 shares during the last quarter. Finally, Roundview Capital LLC grew its position in shares of Atlanta Braves by 12.7% during the fourth quarter. Roundview Capital LLC now owns 177,528 shares of the financial services provider’s stock worth $7,543,000 after buying an additional 20,052 shares in the last quarter. 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, a Major League Baseball franchise based in Atlanta, Georgia. The Braves compete in MLB’s National League East and generate revenue through ticket sales, premium seating, sponsorships, broadcasting and digital rights, licensing, merchandise, concessions, and other team-related activities.

The company also owns and operates Truist Park, the Braves’ home stadium, and The Battery Atlanta, a mixed-use development surrounding the ballpark.