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

Atlanta Braves (NASDAQ:BATRK) was upgraded by stock analysts at StockNews.com to a “sell” rating in a report issued on Friday.

Atlanta Braves Price Performance

Shares of NASDAQ:BATRK opened at $40.37 on Friday. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of -55.30 and a beta of 0.73. The firm’s 50 day simple moving average is $38.56 and its 200 day simple moving average is $39.92. Atlanta Braves has a fifty-two week low of $35.81 and a fifty-two week high of $44.42.

Atlanta Braves (NASDAQ:BATRK) last announced its quarterly earnings results on Wednesday, February 26th. The financial services provider reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.38. The firm had revenue of $52.12 million during the quarter, compared to analyst estimates of $48.20 million. Equities research analysts expect that Atlanta Braves will post -0.89 earnings per share for the current year.

Insiders Place Their Bets

In other Atlanta Braves news, major shareholder John C. Malone purchased 15,192 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was bought at an average cost of $40.62 per share, with a total value of $617,099.04. Following the purchase, the insider now directly owns 146,020 shares of the company’s stock, valued at $5,931,332.40. The trade was a 11.61 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In the last three months, insiders have purchased 44,932 shares of company stock worth $1,864,395. Company insiders own 11.43% of the company’s stock.

Hedge Funds Weigh In On Atlanta Braves

Several hedge funds and other institutional investors have recently made changes to their positions in BATRK. Federated Hermes Inc. bought a new position in shares of Atlanta Braves in the fourth quarter valued at $40,000. R Squared Ltd bought a new position in Atlanta Braves during the fourth quarter worth $41,000. PNC Financial Services Group Inc. boosted its position in Atlanta Braves by 25.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,265 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 463 shares during the period. US Bancorp DE boosted its position in Atlanta Braves by 17.7% during the fourth quarter. US Bancorp DE now owns 2,862 shares of the financial services provider’s stock worth $110,000 after purchasing an additional 430 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in Atlanta Braves by 687.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,463 shares of the financial services provider’s stock worth $132,000 after purchasing an additional 3,023 shares during the period. 64.88% of the stock is 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.