Atlanta Braves (NASDAQ:BATRK) Stock Price Crosses Below 50-Day Moving Average – Here’s What Happened

Shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $51.48 and traded as low as $50.37. Atlanta Braves shares last traded at $51.27, with a volume of 603,022 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BATRK. Morgan Stanley downgraded Atlanta Braves from an “overweight” rating to an “equal weight” rating and set a $54.00 price objective on the stock. in a research report on Wednesday, July 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Atlanta Braves in a research report on Wednesday, June 24th. Wall Street Zen lowered shares of Atlanta Braves from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 8th. Finally, Rosenblatt Securities cut their price objective on shares of Atlanta Braves from $75.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $63.50.

Atlanta Braves Stock Performance

The stock has a fifty day moving average of $51.48 and a 200-day moving average of $48.47. The company has a market cap of $2.67 billion, a PE ratio of -49.94 and a beta of 0.67.

Atlanta Braves (NASDAQ:BATRK) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported ($0.19) EPS for the quarter, missing the consensus estimate of $0.31 by ($0.50). The business had revenue of $305.12 million during the quarter, compared to the consensus estimate of $319.00 million. As a group, equities analysts anticipate that Atlanta Braves Holdings, Inc. will post -0.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Atlanta Braves

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank increased its position in shares of Atlanta Braves by 44.8% during the first quarter. Comerica Bank now owns 1,031 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 319 shares during the period. AQR Capital Management LLC purchased a new position in Atlanta Braves during the 1st quarter worth $382,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Atlanta Braves by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,839 shares of the financial services provider’s stock valued at $1,194,000 after purchasing an additional 1,302 shares in the last quarter. Jones Financial Companies Lllp raised its position in Atlanta Braves by 12,972.7% during the 1st quarter. Jones Financial Companies Lllp now owns 18,694 shares of the financial services provider’s stock valued at $748,000 after purchasing an additional 18,551 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Atlanta Braves by 8.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 269,383 shares of the financial services provider’s stock worth $10,778,000 after buying an additional 21,883 shares in the last quarter. Institutional investors own 64.88% of the company’s stock.

Atlanta Braves Company Profile

The Atlanta Braves Real Estate Ownership Trust (NASDAQ:BATRK) is a publicly traded real estate investment trust established in 2021 by Liberty Braves Group. The trust’s primary purpose is to own and manage a portfolio of sports and entertainment properties related to the Atlanta Braves baseball franchise. BATRK generates stable rental income by leasing its assets to the Braves Baseball Club, LLC, under long-term lease agreements designed to align property performance with franchise needs.

The trust’s portfolio is anchored by Truist Park, the 41,084-seat baseball stadium that has served as the Braves’ home since 2017.