Atlanta Braves (NASDAQ:BATRK) Share Price Passes Above 50 Day Moving Average – Here’s Why

Atlanta Braves Holdings, Inc. (NASDAQ:BATRK)’s share price passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $39.82 and traded as high as $43.30. Atlanta Braves shares last traded at $43.18, with a volume of 497,757 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BATRK. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Atlanta Braves in a research report on Monday, December 29th. Zacks Research cut shares of Atlanta Braves from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. Wall Street Zen raised shares of Atlanta Braves from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $69.00 price target on shares of Atlanta Braves in a research report on Tuesday, December 2nd. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $57.00.

Atlanta Braves Stock Performance

The company has a market cap of $2.23 billion, a P/E ratio of -1,079.23 and a beta of 0.61. The business’s 50-day moving average price is $39.82 and its 200 day moving average price is $40.80.

Insider Transactions at Atlanta Braves

In other Atlanta Braves news, major shareholder John C. Malone bought 35,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The shares were acquired at an average cost of $44.23 per share, with a total value of $1,548,050.00. Following the acquisition, the insider owned 521,862 shares of the company’s stock, valued at $23,081,956.26. The trade was a 7.19% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased a total of 105,065 shares of company stock valued at $4,511,611 in the last 90 days. 11.43% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Atlanta Braves

A number of large investors have recently made changes to their positions in BATRK. Quent Capital LLC bought a new stake in Atlanta Braves in the 3rd quarter valued at $28,000. First Horizon Corp bought a new stake in shares of Atlanta Braves in the third quarter valued at about $30,000. Farther Finance Advisors LLC grew its stake in shares of Atlanta Braves by 701.1% in the third quarter. Farther Finance Advisors LLC now owns 761 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 666 shares in the last quarter. Jones Financial Companies Lllp increased its position in Atlanta Braves by 218.3% during the third quarter. Jones Financial Companies Lllp now owns 799 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 548 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in Atlanta Braves by 956.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 697 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 631 shares in the last quarter. Institutional investors own 64.88% of the company’s stock.

About Atlanta Braves

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.