Universal Beteiligungs und Servicegesellschaft mbH Buys New Position in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH acquired 13,511 shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK), valued at approximately $541,000, marking a significant new investment in the company's stock.
• Atlanta Braves Holdings reported earnings per share of ($0.66) for the last quarter, surpassing analysts' expectations, with revenues reaching $47.21 million against anticipated figures of $36.87 million.
• Several large investors have increased their stakes in Atlanta Braves, with Wells Fargo & Company growing its holdings by 82.3%, now owning 66,198 shares valued at $2.53 million.

Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 13,511 shares of the financial services provider's stock, valued at approximately $541,000.

Other large investors have also recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Atlanta Braves during the 1st quarter worth about $979,000. Victory Capital Management Inc. boosted its stake in shares of Atlanta Braves by 16.7% during the 1st quarter. Victory Capital Management Inc. now owns 6,813 shares of the financial services provider's stock worth $273,000 after purchasing an additional 975 shares during the last quarter. CWM LLC boosted its stake in shares of Atlanta Braves by 56.4% during the 1st quarter. CWM LLC now owns 824 shares of the financial services provider's stock worth $33,000 after purchasing an additional 297 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Atlanta Braves in the first quarter worth approximately $253,000. Finally, DAVENPORT & Co LLC boosted its position in shares of Atlanta Braves by 4.5% in the first quarter. DAVENPORT & Co LLC now owns 48,584 shares of the financial services provider's stock worth $1,944,000 after acquiring an additional 2,095 shares during the last quarter. 64.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Rosenblatt Securities lifted their price objective on shares of Atlanta Braves from $52.00 to $69.00 and gave the company 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 research report on Thursday, May 22nd. Finally, Citigroup raised shares of Atlanta Braves to a "hold" rating and set a $45.00 price target for the company in a research report on Friday, June 13th.

Atlanta Braves Stock Performance

Shares of NASDAQ BATRK traded down $0.22 during trading hours on Wednesday, hitting $44.79. The stock had a trading volume of 80,349 shares, compared to its average volume of 297,762. The company has a market capitalization of $2.30 billion, a P/E ratio of -127.95 and a beta of 0.67. The firm's 50-day moving average price is $44.62 and its two-hundred day moving average price is $41.23. Atlanta Braves Holdings, Inc. has a 52 week low of $35.46 and a 52 week high of $47.18.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last announced its earnings results on Monday, May 12th. The financial services provider reported ($0.66) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.94) by $0.28. The company had revenue of $47.21 million for the quarter, compared to the consensus estimate of $36.87 million. As a group, analysts expect that Atlanta Braves Holdings, Inc. will post -0.89 EPS for the current fiscal year.

Insider Buying and Selling

In other Atlanta Braves news, major shareholder Mario J. Gabelli bought 1,549 shares of the firm's stock in a transaction dated Wednesday, May 28th. The shares were bought at an average price of $43.45 per share, for a total transaction of $67,304.05. Following the completion of the acquisition, the insider owned 27,152 shares of the company's stock, valued at approximately $1,179,754.40. This trade represents a 6.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Michael P. Plant sold 69,000 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $43.00, for a total value of $2,967,000.00. Following the completion of the transaction, the executive vice president owned 205,593 shares in the company, valued at approximately $8,840,499. This represents a 25.13% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 217,372 shares of company stock valued at $9,451,951.

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.