Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) Short Interest Down 39.6% in July

Key Points

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Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Get Free Report) was the target of a significant decline in short interest in July. As of July 31st, there was short interest totaling 1,020,000 shares, adeclineof39.6% from the July 15th total of 1,690,000 shares. Currently,2.2% of the company's shares are short sold. Based on an average daily volume of 298,000 shares, the days-to-cover ratio is currently 3.4 days. Based on an average daily volume of 298,000 shares, the days-to-cover ratio is currently 3.4 days. Currently,2.2% of the company's shares are short sold.

Atlanta Braves Stock Performance

NASDAQ:BATRK opened at $43.77 on Tuesday. Atlanta Braves has a 52-week low of $35.46 and a 52-week high of $47.18. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of -125.06 and a beta of 0.67. The business's fifty day moving average is $45.27 and its 200 day moving average is $41.64.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.64 by ($0.18). The company had revenue of $312.44 million during the quarter, compared to the consensus estimate of $296.36 million. Equities analysts predict that Atlanta Braves will post -0.89 EPS for the current fiscal year.

Insiders Place Their Bets

In other Atlanta Braves news, EVP Michael P. Plant sold 69,000 shares of Atlanta Braves stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $43.00, for a total value of $2,967,000.00. Following the completion of the sale, the executive vice president directly owned 205,593 shares in the company, valued at approximately $8,840,499. The trade was a 25.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Mario J. Gabelli bought 1,549 shares of the stock in a transaction on Wednesday, May 28th. The stock was acquired at an average price of $43.45 per share, with a total value of $67,304.05. Following the completion of the acquisition, the insider owned 27,152 shares of the company's stock, valued at $1,179,754.40. This represents a 6.05% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders sold 211,605 shares of company stock worth $9,214,527.

Hedge Funds Weigh In On Atlanta Braves

A number of institutional investors have recently added to or reduced their stakes in the business. LPL Financial LLC increased its position in shares of Atlanta Braves by 4.1% during the 4th quarter. LPL Financial LLC now owns 7,580 shares of the financial services provider's stock valued at $290,000 after purchasing an additional 302 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Atlanta Braves by 82.3% during the 4th quarter. Wells Fargo & Company MN now owns 66,198 shares of the financial services provider's stock valued at $2,533,000 after purchasing an additional 29,894 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Atlanta Braves by 3.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 33,202 shares of the financial services provider's stock valued at $1,270,000 after purchasing an additional 962 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Atlanta Braves during the 4th quarter valued at about $3,324,000. Finally, Barclays PLC increased its position in shares of Atlanta Braves by 7.9% during the 4th quarter. Barclays PLC now owns 88,826 shares of the financial services provider's stock valued at $3,398,000 after purchasing an additional 6,496 shares during the last quarter. 64.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BATRK has been the subject of several recent research reports. Rosenblatt Securities boosted their price objective on Atlanta Braves from $52.00 to $69.00 and gave the company a "buy" rating in a report on Friday, June 20th. Wall Street Zen raised Atlanta Braves from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Citigroup raised Atlanta Braves to a "hold" rating and set a $45.00 target price on the stock in a research report on Friday, June 13th.

Atlanta Braves Company Profile

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.

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