Atlanta Braves (NASDAQ:BATRK) Stock: Insider Gregory John Heller Sells 80,263 Shares

Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) EVP Gregory John Heller sold 80,263 shares of Atlanta Braves stock in a transaction on 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 sale, the executive vice president directly owned 22,741 shares of the company’s stock, valued at $1,225,512.49. This represents a 77.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Atlanta Braves Price Performance

NASDAQ BATRK traded down $0.69 during trading on Thursday, reaching $52.25. The company’s stock had a trading volume of 569,867 shares, compared to its average volume of 448,615. The stock has a market capitalization of $2.76 billion, a PE ratio of -51.73 and a beta of 0.67. The firm has a fifty day moving average of $51.40 and a 200 day moving average of $49.56. Atlanta Braves Holdings, Inc. has a one year low of $37.76 and a one year high of $54.86.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Global Trust Asset Management LLC purchased a new position in shares of Atlanta Braves in the first quarter worth about $26,000. Fifth Third Bancorp bought a new stake in shares of Atlanta Braves in the 1st quarter valued at about $35,000. Eurizon Capital SGR S.p.A. purchased a new stake in Atlanta Braves during the 4th quarter valued at about $97,000. PNC Financial Services Group Inc. boosted its holdings in 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 valued at $153,000 after acquiring an additional 662 shares during the period. Finally, Parallel Advisors LLC grew its position in Atlanta Braves by 46.7% during the 1st quarter. Parallel Advisors LLC now owns 3,824 shares of the financial services provider’s stock worth $163,000 after acquiring an additional 1,217 shares during the last quarter. 64.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BATRK has been the subject of several research analyst reports. Rosenblatt Securities dropped their target price on shares of Atlanta Braves from $75.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Morgan Stanley lowered shares of Atlanta Braves from an “overweight” rating to an “equal weight” rating and set a $54.00 price target on the stock. in a report on Wednesday, July 15th. Wall Street Zen cut shares of Atlanta Braves from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Atlanta Braves in a report on Monday, September 21st. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Atlanta Braves has a consensus rating of “Hold” and a consensus target price of $63.50.

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.