19,481 Shares in Atlanta Braves Holdings, Inc. $BATRK Bought by S&CO Inc.

Key Points

• S&CO Inc. bought 19,481 shares of Atlanta Braves Holdings (BATRK) during the second quarter, valued at approximately $1.01 million. Institutional investors and hedge funds collectively own 64.88% of the company.
• Analyst sentiment is mixed, with an overall “Hold” rating and an average price target of $63.50. Recent actions included target cuts and downgrades, although Rosenblatt Securities maintained a “Buy” rating.
• BATRK shares opened at $53.58, near their 52-week high of $54.46, while the company’s latest quarterly results missed expectations: adjusted EPS was a $0.19 loss versus an anticipated $0.31 gain, and revenue came in below estimates.

S&CO Inc. purchased a new stake in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 19,481 shares of the financial services provider's stock, valued at approximately $1,011,000.

Other large investors also recently bought and sold shares of the company. Global Trust Asset Management LLC acquired a new stake in shares of Atlanta Braves during the first quarter worth about $26,000. EverSource Wealth Advisors LLC grew its stake in Atlanta Braves by 956.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 697 shares of the financial services provider's stock worth $33,000 after buying an additional 631 shares during the last quarter. Advisory Services Network LLC purchased a new position in Atlanta Braves during the 3rd quarter worth approximately $34,000. Fifth Third Bancorp acquired a new position in Atlanta Braves during the first quarter worth approximately $35,000. Finally, Comerica Bank increased its position in Atlanta Braves by 44.8% during the first quarter. Comerica Bank now owns 1,031 shares of the financial services provider's stock worth $41,000 after buying an additional 319 shares during the period. Institutional investors and hedge funds own 64.88% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Atlanta Braves in a report on Wednesday, June 24th. Rosenblatt Securities cut their target price on shares of Atlanta Braves from $75.00 to $73.00 and set a "buy" rating on the stock in a report on Friday, August 7th. Wall Street Zen downgraded shares of Atlanta Braves from a "hold" rating to a "strong sell" rating in a research report on Saturday, August 8th. Zacks Research cut shares of Atlanta Braves from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. Finally, Morgan Stanley downgraded shares of Atlanta Braves from an "overweight" rating to an "equal weight" rating and set a $54.00 price objective on the stock. in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $63.50.

Atlanta Braves Price Performance

Shares of NASDAQ BATRK opened at $53.58 on Friday. The stock has a fifty day moving average price of $51.23 and a 200 day moving average price of $47.29. Atlanta Braves Holdings, Inc. has a 1-year low of $37.76 and a 1-year high of $54.46. The company has a market cap of $2.83 billion, a PE ratio of -53.05 and a beta of 0.68.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.50). The business had revenue of $305.12 million for the quarter, compared to the consensus estimate of $319.00 million. Analysts anticipate that Atlanta Braves Holdings, Inc. will post -0.37 earnings per share for the current fiscal year.

About Atlanta Braves

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source