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

Atlanta Braves Holdings, Inc. (NASDAQ:BATRA) EVP Gregory Heller sold 80,263 shares of the stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of $53.89, for a total value 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Atlanta Braves Trading Down 0.4%

NASDAQ BATRA opened at $57.62 on Friday. Atlanta Braves Holdings, Inc. has a one year low of $41.50 and a one year high of $60.48. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.49 and a quick ratio of 0.49. The firm has a market cap of $3.63 billion, a P/E ratio of -57.05 and a beta of 0.62. The stock’s 50-day moving average is $56.07 and its 200-day moving average is $54.12.

Atlanta Braves (NASDAQ:BATRA) 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 $0.29 by ($0.48). Atlanta Braves had a negative net margin of 8.56% and a negative return on equity of 7.45%. The business had revenue of $305.12 million during the quarter, compared to analyst estimates of $317.09 million. Sell-side analysts anticipate that Atlanta Braves Holdings, Inc. will post -0.41 earnings per share for the current fiscal year.

Institutional Trading of Atlanta Braves

A number of hedge funds and other institutional investors have recently made changes to their positions in BATRA. Grove Bank & Trust bought a new stake in shares of Atlanta Braves in the second quarter worth $28,000. Versant Capital Management Inc grew its position in Atlanta Braves by 42.2% in the third quarter. Versant Capital Management Inc now owns 1,160 shares of the financial services provider’s stock valued at $67,000 after purchasing an additional 344 shares in the last quarter. Nykredit A S acquired a new stake in Atlanta Braves in the 2nd quarter valued at $87,000. Fifth Third Bancorp acquired a new stake in Atlanta Braves in the 1st quarter valued at $154,000. Finally, Waverly Advisors LLC acquired a new stake in Atlanta Braves in the 2nd quarter valued at $230,000. 12.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Atlanta Braves in a research note on Friday, July 17th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce”.

About Atlanta Braves

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.