Key Points
- Executive Vice President Gregory Heller sold 80,263 BATRA shares at an average price of $53.89, generating approximately $4.33 million. The Rule 10b5-1 transaction reduced his ownership by 77.92%, leaving him with 22,741 shares.
- Atlanta Braves Holdings recently reported weaker-than-expected quarterly results, with a loss of $0.19 per share versus analysts’ expected profit of $0.29 and revenue of $305.12 million below the $317.09 million consensus.
- BATRA was trading at $57.84, near its 52-week high of $60.48, while analysts’ overall rating was “Reduce”; one analyst rated it Hold and another rated it Sell.
Atlanta Braves Holdings, Inc. (NASDAQ:BATRA - Get Free Report) EVP Gregory Heller sold 80,263 shares of the firm's stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $53.89, for a total value of $4,325,373.07. Following the transaction, the executive vice president owned 22,741 shares in the company, valued at approximately $1,225,512.49. This trade represents a 77.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Atlanta Braves Stock Performance
BATRA opened at $57.84 on Friday. The company has a market cap of $3.64 billion, a PE ratio of -57.27 and a beta of 0.62. The stock has a 50-day moving average of $56.02 and a 200-day moving average of $54.09. Atlanta Braves Holdings, Inc. has a 52-week low of $41.50 and a 52-week high of $60.48. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.49 and a current ratio of 0.49.
Atlanta Braves (NASDAQ:BATRA - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The financial services provider reported ($0.19) earnings per share for the quarter, missing analysts' consensus estimates of $0.29 by ($0.48). Atlanta Braves had a negative net margin of 8.56% and a negative return on equity of 7.45%. The company had revenue of $305.12 million during the quarter, compared to the consensus estimate of $317.09 million. As a group, equities research analysts forecast that Atlanta Braves Holdings, Inc. will post -0.41 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Atlanta Braves
Several large investors have recently made changes to their positions in BATRA. State Street Corp lifted its position in shares of Atlanta Braves by 10.6% during the 2nd quarter. State Street Corp now owns 238,949 shares of the financial services provider's stock worth $13,455,000 after purchasing an additional 22,888 shares during the last quarter. Waverly Advisors LLC acquired a new stake in Atlanta Braves in the 2nd quarter valued at approximately $230,000. Nykredit A S bought a new position in Atlanta Braves in the 2nd quarter worth approximately $87,000. Corient Private Wealth LP increased its position in Atlanta Braves by 68.7% in the 2nd quarter. Corient Private Wealth LP now owns 9,987 shares of the financial services provider's stock worth $562,000 after buying an additional 4,067 shares during the period. Finally, Wedbush Securities Inc. acquired a new position in shares of Atlanta Braves during the second quarter worth approximately $238,000. Institutional investors and hedge funds own 12.31% of the company's stock.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Atlanta Braves in a report on Friday, July 17th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Atlanta Braves presently has an average rating of "Reduce".
Check Out Our Latest Stock Report on BATRA
About Atlanta Braves
(
Get Free Report)
Atlanta Braves Holdings, Inc owns and operates the Atlanta Braves, a Major League Baseball franchise based in Atlanta, Georgia. The organization generates revenue through ticket sales, premium seating, sponsorships, media and broadcasting rights, concessions, licensing, retail merchandise, and other game-day and fan-related activities.
The Braves play their home games at Truist Park, which opened in 2017 in Cobb County, Georgia. The company also owns and operates The Battery Atlanta, a mixed-use development adjacent to the ballpark that includes restaurants, retail stores, office space, residences, entertainment venues, and event facilities.
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