Broad Bay Capital Management LP Sells 180,360 Shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK)

Broad Bay Capital Management LP lessened its stake in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) by 11.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,394,227 shares of the financial services provider's stock after selling 180,360 shares during the period. Atlanta Braves comprises about 6.6% of Broad Bay Capital Management LP's investment portfolio, making the stock its 3rd largest position. Broad Bay Capital Management LP owned approximately 2.74% of Atlanta Braves worth $53,343,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in BATRK. Barclays PLC raised its position in shares of Atlanta Braves by 160.3% during the 3rd quarter. Barclays PLC now owns 82,330 shares of the financial services provider's stock worth $3,276,000 after purchasing an additional 50,702 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Atlanta Braves during the third quarter valued at $507,000. JPMorgan Chase & Co. boosted its holdings in shares of Atlanta Braves by 123.0% during the third quarter. JPMorgan Chase & Co. now owns 167,273 shares of the financial services provider's stock valued at $6,657,000 after acquiring an additional 92,248 shares during the period. Harbor Capital Advisors Inc. lifted its position in Atlanta Braves by 1.2% in the 4th quarter. Harbor Capital Advisors Inc. now owns 319,298 shares of the financial services provider's stock valued at $12,216,000 after purchasing an additional 3,874 shares during the last quarter. Finally, Miracle Mile Advisors LLC acquired a new position in Atlanta Braves during the 4th quarter valued at about $6,736,000. 64.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Atlanta Braves to a "sell" rating in a research report on Friday, February 28th.

Insider Transactions at Atlanta Braves

In other Atlanta Braves news, major shareholder John C. Malone bought 44,258 shares of the firm's stock in a transaction dated Thursday, April 10th. The stock was acquired at an average price of $41.80 per share, with a total value of $1,849,984.40. Following the completion of the transaction, the insider now directly owns 330,870 shares in the company, valued at approximately $13,830,366. This represents a 15.44 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased a total of 122,632 shares of company stock valued at $5,072,723 in the last three months. 11.43% of the stock is currently owned by corporate insiders.

Atlanta Braves Price Performance

Shares of NASDAQ:BATRK remained flat at $40.51 during trading on Friday. 301,422 shares of the stock were exchanged, compared to its average volume of 279,090. The business's fifty day moving average is $39.11 and its two-hundred day moving average is $39.24. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of -55.49 and a beta of 0.56. Atlanta Braves Holdings, Inc. has a 12 month low of $35.46 and a 12 month high of $44.43.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The financial services provider reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.38. The business had revenue of $52.12 million during the quarter, compared to analyst estimates of $48.20 million. On average, research analysts forecast that Atlanta Braves Holdings, Inc. will post -0.89 EPS for the current year.

Atlanta Braves 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.