Insider Selling: Atlanta Braves (NASDAQ:BATRK) EVP Sells $4,325,373.07 in Stock

Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) 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 transaction of $4,325,373.07. Following the completion of the sale, the executive vice president owned 22,741 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Atlanta Braves Price Performance

Shares of NASDAQ:BATRK opened at $52.03 on Friday. The business’s 50 day simple moving average is $51.48 and its 200-day simple moving average is $49.64. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of -51.51 and a beta of 0.65. Atlanta Braves Holdings, Inc. has a 12 month low of $37.76 and a 12 month high of $54.86.

Atlanta Braves (NASDAQ:BATRK) last issued its quarterly earnings data on Wednesday, August 5th. The financial services provider reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.50). The company had revenue of $305.12 million during the quarter, compared to analysts’ expectations of $319.00 million. On average, equities analysts anticipate that Atlanta Braves Holdings, Inc. will post -0.44 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on BATRK. Morgan Stanley cut shares of Atlanta Braves from an “overweight” rating to an “equal weight” rating and set a $54.00 target price for the company. in a research report on Wednesday, July 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Atlanta Braves in a research report on Monday, September 21st. Wall Street Zen cut shares of Atlanta Braves from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 8th. Finally, Rosenblatt Securities cut their price objective on Atlanta Braves from $75.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, August 7th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $63.50.

Hedge Funds Weigh In On Atlanta Braves

Institutional investors and hedge funds have recently modified their holdings of the company. Rockefeller Capital Management L.P. raised its position in shares of Atlanta Braves by 4.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 6,745 shares of the financial services provider’s stock valued at $266,000 after acquiring an additional 310 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Atlanta Braves by 2.8% in the 2nd quarter. Arizona State Retirement System now owns 13,123 shares of the financial services provider’s stock worth $681,000 after buying an additional 361 shares during the last quarter. Ancora Advisors LLC lifted its position in shares of Atlanta Braves by 0.3% in the 2nd quarter. Ancora Advisors LLC now owns 157,275 shares of the financial services provider’s stock worth $8,163,000 after buying an additional 457 shares during the last quarter. Lido Advisors LLC boosted its holdings in shares of Atlanta Braves by 9.9% in the 1st quarter. Lido Advisors LLC now owns 6,310 shares of the financial services provider’s stock valued at $269,000 after buying an additional 570 shares during the period. Finally, Global Trust Asset Management LLC bought a new stake in shares of Atlanta Braves during the 1st quarter valued at about $26,000. Hedge funds and other institutional investors own 64.88% of the company’s stock.

Atlanta Braves Company Profile

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.