157,275 Shares in Atlanta Braves Holdings, Inc. $BATRK Purchased by Ancora Advisors LLC

Key Points

• Ancora Advisors acquired 157,275 shares of Atlanta Braves Holdings, valued at approximately $8.16 million, giving it a 0.30% stake. Institutional investors and hedge funds collectively own 64.88% of the stock.
• BATRK recently traded at $52.97, near its 52-week high of $54.46. The company reported a quarterly loss of $0.19 per share and revenue of $305.1 million, missing analyst expectations on both measures.
• Analyst sentiment is mixed, with an average rating of Hold and an average price target of $63.50; recent actions included a Morgan Stanley downgrade to equal weight and a reduced target from Rosenblatt Securities.

Ancora Advisors LLC purchased a new position in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 157,275 shares of the financial services provider's stock, valued at approximately $8,163,000. Ancora Advisors LLC owned about 0.30% of Atlanta Braves as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Troluce Capital Advisors LLC boosted its holdings in shares of Atlanta Braves by 274.9% during the 1st quarter. Troluce Capital Advisors LLC now owns 2,000,000 shares of the financial services provider's stock worth $85,400,000 after buying an additional 1,466,584 shares during the period. Janus Henderson Group PLC grew its stake in Atlanta Braves by 13.2% in the 1st quarter. Janus Henderson Group PLC now owns 834,765 shares of the financial services provider's stock valued at $35,645,000 after buying an additional 97,443 shares during the last quarter. Capula Management Ltd bought a new position in Atlanta Braves in the 1st quarter valued at about $2,504,000. Southpoint Capital Advisors LP raised its holdings in Atlanta Braves by 28.6% in the 1st quarter. Southpoint Capital Advisors LP now owns 900,000 shares of the financial services provider's stock valued at $38,430,000 after acquiring an additional 200,000 shares during the period. Finally, S&CO Inc. acquired a new stake in Atlanta Braves during the second quarter worth approximately $1,011,000. 64.88% of the stock is owned by institutional investors and hedge funds.

Atlanta Braves Price Performance

Shares of NASDAQ:BATRK opened at $52.97 on Wednesday. The company has a market cap of $2.80 billion, a price-to-earnings ratio of -52.45 and a beta of 0.68. The firm has a 50 day simple moving average of $51.52 and a 200 day simple moving average of $47.98. Atlanta Braves Holdings, Inc. has a one year low of $37.76 and a one year high of $54.46.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last posted its earnings results on Wednesday, August 5th. The financial services provider reported ($0.19) earnings per share for the quarter, missing analysts' consensus estimates of $0.31 by ($0.50). The business had revenue of $305.12 million for the quarter, compared to analysts' expectations of $319.00 million. As a group, analysts expect that Atlanta Braves Holdings, Inc. will post -0.37 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Rosenblatt Securities reduced their price objective on Atlanta Braves from $75.00 to $73.00 and set a "buy" rating for the company in a report on Friday, August 7th. Weiss Ratings reissued a "sell (d-)" rating on shares of Atlanta Braves in a report on Wednesday, June 24th. Morgan Stanley downgraded Atlanta Braves from an "overweight" rating to an "equal weight" rating and set a $54.00 price target for the company. in a research note on Wednesday, July 15th. Finally, Wall Street Zen cut Atlanta Braves from a "hold" rating to a "strong sell" rating in a research report on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $63.50.

Atlanta Braves Company Profile

The Atlanta Braves Real Estate Ownership Trust NASDAQ: BATRK is a publicly traded real estate investment trust established in 2021 by Liberty Braves Group. The trust's primary purpose is to own and manage a portfolio of sports and entertainment properties related to the Atlanta Braves baseball franchise. BATRK generates stable rental income by leasing its assets to the Braves Baseball Club, LLC, under long-term lease agreements designed to align property performance with franchise needs.

The trust's portfolio is anchored by Truist Park, the 41,084-seat baseball stadium that has served as the Braves' home since 2017.

Want to see what other hedge funds are holding BATRK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report).

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