Atlanta Braves (NASDAQ:BATRA) EVP Sells $9,331,014.00 in Stock

Atlanta Braves Holdings, Inc. (NASDAQ:BATRA) EVP Derek Gordon Schiller sold 175,395 shares of the firm’s stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $53.20, for a total value of $9,331,014.00. Following the completion of the transaction, the executive vice president owned 316,908 shares in the company, valued at approximately $16,859,505.60. This represents a 35.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Atlanta Braves Price Performance

Shares of BATRA stock opened at $57.62 on Friday. The firm has a market cap of $3.63 billion, a price-to-earnings ratio of -57.05 and a beta of 0.62. Atlanta Braves Holdings, Inc. has a 12 month low of $41.50 and a 12 month high of $60.48. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.06. The stock has a 50-day moving average price of $56.07 and a 200 day moving average price of $54.12.

Atlanta Braves (NASDAQ:BATRA) last issued its earnings results 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 the consensus estimate of $317.09 million. Research analysts expect that Atlanta Braves Holdings, Inc. will post -0.41 EPS for the current year.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Atlanta Braves

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BATRA. Versant Capital Management Inc lifted its stake 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 buying an additional 344 shares during the period. State Street Corp grew 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 buying an additional 22,888 shares during the period. Waverly Advisors LLC bought a new stake in shares of Atlanta Braves in the 2nd quarter valued at about $230,000. Nykredit A S bought a new stake in shares of Atlanta Braves in the 2nd quarter valued at about $87,000. Finally, Corient Private Wealth LP raised its position in shares of 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 valued at $562,000 after acquiring an additional 4,067 shares during the period. Institutional investors own 12.31% 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 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.