Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) Short Interest Update

Key Points

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Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Get Free Report) was the recipient of a large decrease in short interest in the month of July. As of July 31st, there was short interest totaling 1,020,000 shares, adecreaseof39.6% from the July 15th total of 1,690,000 shares. Currently,2.2% of the company's stock are short sold. Based on an average daily volume of 298,000 shares, the short-interest ratio is presently 3.4 days. Based on an average daily volume of 298,000 shares, the short-interest ratio is presently 3.4 days. Currently,2.2% of the company's stock are short sold.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BATRK. Rosenblatt Securities increased their price objective on shares of Atlanta Braves from $52.00 to $69.00 and gave the stock a "buy" rating in a research note on Friday, June 20th. Wall Street Zen raised shares of Atlanta Braves from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Citigroup raised shares of Atlanta Braves to a "hold" rating and set a $45.00 target price on the stock in a report on Friday, June 13th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $57.00.

Insider Buying and Selling

In related news, EVP Derek Gordon Schiller sold 72,505 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $43.00, for a total value of $3,117,715.00. Following the completion of the transaction, the executive vice president directly owned 300,233 shares of the company's stock, valued at approximately $12,910,019. This represents a 19.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael P. Plant sold 69,000 shares of the company's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $43.00, for a total transaction of $2,967,000.00. Following the completion of the transaction, the executive vice president directly owned 205,593 shares of the company's stock, valued at approximately $8,840,499. The trade was a 25.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 211,605 shares of company stock valued at $9,214,527. Company insiders own 11.43% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Aristeia Capital L.L.C. increased its holdings in shares of Atlanta Braves by 2.3% during the first quarter. Aristeia Capital L.L.C. now owns 2,470,052 shares of the financial services provider's stock worth $98,827,000 after purchasing an additional 55,690 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in shares of Atlanta Braves by 8.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,829,000 shares of the financial services provider's stock worth $73,179,000 after purchasing an additional 138,111 shares during the period. Broad Bay Capital Management LP increased its holdings in shares of Atlanta Braves by 24.3% during the first quarter. Broad Bay Capital Management LP now owns 1,732,882 shares of the financial services provider's stock worth $69,333,000 after purchasing an additional 338,655 shares during the period. Gabelli Funds LLC increased its holdings in shares of Atlanta Braves by 3.7% during the first quarter. Gabelli Funds LLC now owns 1,473,271 shares of the financial services provider's stock worth $58,946,000 after purchasing an additional 52,777 shares during the period. Finally, Gamco Investors INC. ET AL increased its holdings in shares of Atlanta Braves by 1.2% during the second quarter. Gamco Investors INC. ET AL now owns 1,452,088 shares of the financial services provider's stock worth $67,914,000 after purchasing an additional 16,663 shares during the period. 64.88% of the stock is owned by institutional investors.

Atlanta Braves Price Performance

Atlanta Braves stock traded up $1.18 during trading hours on Friday, hitting $44.99. The company had a trading volume of 252,709 shares, compared to its average volume of 255,756. The firm has a market cap of $2.82 billion, a PE ratio of -128.54 and a beta of 0.67. Atlanta Braves has a one year low of $35.46 and a one year high of $47.18. The firm has a 50-day moving average of $45.34 and a 200 day moving average of $41.73.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.18). The business had revenue of $312.44 million for the quarter, compared to analysts' expectations of $296.36 million. As a group, research analysts expect that Atlanta Braves will post -0.89 earnings per share for the current year.

About Atlanta Braves

Atlanta Braves Holdings, Inc owns and operates the Atlanta Braves Major league baseball club. It also operates mixed-use development project, including retail, office, hotel, and entertainment projects. The company was incorporated in 2022 and is based in Englewood, Colorado.