162,983 Shares in Atlanta Braves Holdings, Inc. $BATRK Purchased by Baird Financial Group Inc.

Key Points

• Baird Financial Group acquired 162,983 shares of Atlanta Braves Holdings, valued at approximately $8.46 million, giving it a 0.31% stake. Institutional investors collectively own 64.88% of the company.
• Atlanta Braves shares opened at $48.84, with a 52-week range of $37.76 to $54.46 and a market capitalization of about $2.58 billion. The company’s latest quarterly results missed expectations, reporting a loss of $0.19 per share and revenue of $305.1 million.
• Analyst sentiment is mixed, with the stock carrying an average “Hold” rating and a consensus price target of $63.50; recent actions included a Morgan Stanley downgrade to “equal weight” and a Rosenblatt price-target reduction to $73.

Baird Financial Group Inc. acquired a new stake in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 162,983 shares of the financial services provider's stock, valued at approximately $8,459,000. Baird Financial Group Inc. owned about 0.31% of Atlanta Braves at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Global Trust Asset Management LLC acquired a new stake in shares of Atlanta Braves in the first quarter valued at approximately $26,000. EverSource Wealth Advisors LLC lifted its stake in Atlanta Braves by 956.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 697 shares of the financial services provider's stock valued at $33,000 after buying an additional 631 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Atlanta Braves in the 3rd quarter valued at approximately $34,000. Fifth Third Bancorp acquired a new stake in Atlanta Braves during the 1st quarter valued at $35,000. Finally, Comerica Bank grew its holdings in Atlanta Braves by 44.8% during the 1st quarter. Comerica Bank now owns 1,031 shares of the financial services provider's stock valued at $41,000 after buying an additional 319 shares during the last quarter. 64.88% of the stock is currently owned by hedge funds and other institutional investors.

Atlanta Braves Stock Performance

Shares of NASDAQ BATRK opened at $48.84 on Monday. Atlanta Braves Holdings, Inc. has a 1 year low of $37.76 and a 1 year high of $54.46. The firm's 50 day moving average price is $51.22 and its 200 day moving average price is $48.76. The firm has a market cap of $2.58 billion, a P/E ratio of -48.36 and a beta of 0.67.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last issued its quarterly 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 during the quarter, compared to the consensus estimate of $319.00 million. As a group, equities analysts predict that Atlanta Braves Holdings, Inc. will post -0.44 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Atlanta Braves in a research report on Wednesday, June 24th. Rosenblatt Securities reduced their price objective on Atlanta Braves from $75.00 to $73.00 and set a "buy" rating on the stock in a research report on Friday, August 7th. Morgan Stanley lowered Atlanta Braves from an "overweight" rating to an "equal weight" rating and set a $54.00 price objective on the stock. 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 research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Atlanta Braves currently has an average rating of "Hold" and an average price target of $63.50.

Atlanta Braves Profile

Atlanta Braves Holdings, Inc owns and operates the Atlanta Braves, a Major League Baseball franchise based in Atlanta, Georgia. The company's principal business activities include professional baseball operations, ticket sales, premium seating, sponsorships, broadcasting and media rights, concessions, retail merchandise, and other fan-related services.

The company also owns and operates The Battery Atlanta, a mixed-use development adjacent to Truist Park. The Battery Atlanta includes restaurants, retail stores, office space, residential properties, entertainment venues, hotels and event facilities, providing additional revenue opportunities beyond baseball.

The Braves franchise traces its history to 1871 and has previously been based in Boston and Milwaukee before relocating to Atlanta in 1966.

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