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

Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) EVP Derek Gordon Schiller sold 175,395 shares of the company’s stock in a transaction on 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 directly owned 316,908 shares in the company, valued at approximately $16,859,505.60. This trade represents a 35.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Atlanta Braves Stock Performance

Shares of NASDAQ BATRK traded down $0.69 during mid-day trading on Thursday, reaching $52.25. 569,867 shares of the company’s stock were exchanged, compared to its average volume of 448,615. The company’s 50-day moving average is $51.40 and its 200-day moving average is $49.56. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of -51.73 and a beta of 0.67. Atlanta Braves Holdings, Inc. has a 52-week low of $37.76 and a 52-week 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 for the quarter, compared to analysts’ expectations of $319.00 million. As a group, equities analysts predict that Atlanta Braves Holdings, Inc. will post -0.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BATRK has been the subject of a number of research analyst reports. Rosenblatt Securities lowered their price objective 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 Atlanta Braves from an “overweight” rating to an “equal weight” rating and set a $54.00 target price on the stock. in a research report on Wednesday, July 15th. Wall Street Zen cut Atlanta Braves from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Atlanta Braves in a research report on Monday, September 21st. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Atlanta Braves presently has a consensus rating of “Hold” and an average price target of $63.50.

Institutional Trading of Atlanta Braves

A number of institutional investors and hedge funds have recently bought and sold shares of BATRK. Sequoia Financial Advisors LLC purchased a new position in shares of Atlanta Braves in the second quarter valued at approximately $281,000. Engineers Gate Manager LP acquired a new position in shares of Atlanta Braves in the second quarter valued at approximately $1,179,000. Squarepoint Ops LLC purchased a new stake in Atlanta Braves during the 2nd quarter worth approximately $529,000. Baird Financial Group Inc. purchased a new stake in Atlanta Braves during the 2nd quarter worth approximately $8,459,000. Finally, Arizona State Retirement System lifted its holdings in Atlanta Braves by 2.8% during 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 in the last quarter. 64.88% of the stock is currently owned by hedge funds and other institutional investors.

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.