Atlanta Braves (NASDAQ:BATRK) Trading Down 2.8% – What’s Next?

Atlanta Braves Holdings, Inc. (NASDAQ:BATRK)’s stock price fell 2.8% during mid-day trading on Friday . The stock traded as low as $39.92 and last traded at $39.93. 42,033 shares traded hands during trading, a decline of 81% from the average session volume of 221,440 shares. The stock had previously closed at $41.07.

Analysts Set New Price Targets

Separately, Rosenblatt Securities reduced their price target on Atlanta Braves from $54.00 to $53.00 and set a “buy” rating for the company in a research report on Wednesday, August 14th.

Atlanta Braves Price Performance

The firm’s 50 day moving average is $41.15 and its 200 day moving average is $40.31. The company has a market cap of $2.03 billion, a PE ratio of -20.01 and a beta of 0.71.

Atlanta Braves (NASDAQ:BATRK) last released its quarterly earnings results on Thursday, August 8th. The financial services provider reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. The firm had revenue of $282.88 million for the quarter, compared to analysts’ expectations of $288.20 million. During the same quarter last year, the firm earned ($0.55) earnings per share. As a group, analysts anticipate that Atlanta Braves Holdings, Inc. will post -0.39 EPS for the current year.

Hedge Funds Weigh In On Atlanta Braves

Institutional investors have recently added to or reduced their stakes in the business. Quent Capital LLC raised its position in shares of Atlanta Braves by 568.4% during the 1st quarter. Quent Capital LLC now owns 1,651 shares of the financial services provider’s stock valued at $64,000 after buying an additional 1,404 shares in the last quarter. Hahn Capital Management LLC increased its stake in Atlanta Braves by 33.7% in the second quarter. Hahn Capital Management LLC now owns 1,962 shares of the financial services provider’s stock valued at $77,000 after acquiring an additional 495 shares during the last quarter. nVerses Capital LLC purchased a new stake in Atlanta Braves during the second quarter valued at about $95,000. OFI Invest Asset Management bought a new stake in Atlanta Braves during the second quarter worth about $156,000. Finally, Mogy Joel R Investment Counsel Inc. bought a new stake in Atlanta Braves during the second quarter worth about $212,000. 64.88% of the stock is currently owned by institutional investors.

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.