Key Points
- Atlanta Braves EVP Gregory John Heller sold 80,263 shares at an average price of $53.89, generating approximately $4.33 million. The Rule 10b5-1 transaction reduced his holdings by 77.92%, leaving him with 22,741 shares.
- The company recently reported a quarterly loss of $0.19 per share, missing the $0.31 analyst estimate, while revenue of $305.12 million also fell short of expectations.
- Analyst sentiment is mixed, with an overall “Hold” rating and an average price target of $63.50; BATRK recently traded near $52.25, with institutional investors owning 64.88% of the stock.
Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Get Free Report) EVP Gregory John Heller sold 80,263 shares of the business's stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $53.89, for a total transaction of $4,325,373.07. Following the completion of the transaction, the executive vice president owned 22,741 shares in the company, valued at $1,225,512.49. This trade represents a 77.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Atlanta Braves Stock Performance
NASDAQ:BATRK opened at $52.25 on Friday. Atlanta Braves Holdings, Inc. has a 52 week low of $37.76 and a 52 week high of $54.86. The firm's fifty day moving average is $51.44 and its 200-day moving average is $49.62. The firm has a market cap of $2.76 billion, a P/E ratio of -51.73 and a beta of 0.65.
Atlanta Braves (NASDAQ:BATRK - Get Free Report) last announced its earnings results on Wednesday, August 5th. The financial services provider reported ($0.19) earnings per share for the quarter, missing analysts' consensus estimates of $0.31 by ($0.50). The company had revenue of $305.12 million for the quarter, compared to analyst estimates of $319.00 million. As a group, sell-side analysts anticipate that Atlanta Braves Holdings, Inc. will post -0.44 earnings per share for the current year.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on BATRK. Weiss Ratings reissued a "sell (d-)" rating on shares of Atlanta Braves in a research report on Monday, September 21st. Rosenblatt Securities cut their target price on Atlanta Braves from $75.00 to $73.00 and set a "buy" rating on the stock in a research report on Friday, August 7th. Wall Street Zen cut Atlanta Braves from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 8th. Finally, Morgan Stanley downgraded Atlanta Braves from an "overweight" rating to an "equal weight" rating and set a $54.00 target price for the company. in a report on Wednesday, July 15th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $63.50.
Get Our Latest Report on Atlanta Braves
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the stock. Global Trust Asset Management LLC acquired a new stake in Atlanta Braves in the first quarter worth $26,000. Fifth Third Bancorp acquired a new position in shares of Atlanta Braves during the first quarter valued at about $35,000. Eurizon Capital SGR S.p.A. bought a new position in shares of Atlanta Braves during the 4th quarter worth about $97,000. PNC Financial Services Group Inc. boosted its position in shares of Atlanta Braves by 22.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,575 shares of the financial services provider's stock worth $153,000 after purchasing an additional 662 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in shares of Atlanta Braves by 46.7% in the 1st quarter. Parallel Advisors LLC now owns 3,824 shares of the financial services provider's stock valued at $163,000 after buying an additional 1,217 shares during the period. 64.88% of the stock is owned by institutional investors.
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 manages the team's baseball operations, ticket sales, sponsorships, media and broadcasting activities, merchandise, and other commercial initiatives associated with the franchise.
The Braves play their home games at Truist Park in Cobb County, Georgia, which opened in 2017. The adjacent Battery Atlanta is a mixed-use development featuring restaurants, retail, office, hospitality, entertainment, and residential properties.
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