Tribune Investment Group LP Makes New $2.40 Million Investment in Atlanta Braves Holdings, Inc. $BATRK

Key Points

• Tribune Investment Group LP acquired 60,000 shares of Atlanta Braves Holdings, valued at approximately $2.4 million, making it the 28th largest holding in their portfolio.
• Institutional investors now hold approximately 64.88% of Atlanta Braves stock, with several firms increasing their stakes in the last quarter.
• The stock received a rating upgrade from "sell" to "hold" by multiple analysts, with a consensus price target of $57.00.

Tribune Investment Group LP bought a new position in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 60,000 shares of the financial services provider's stock, valued at approximately $2,401,000. Atlanta Braves comprises 1.0% of Tribune Investment Group LP's portfolio, making the stock its 28th largest holding. Tribune Investment Group LP owned about 0.12% of Atlanta Braves at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in BATRK. Aristeia Capital L.L.C. boosted its stake in Atlanta Braves by 34.5% during the 4th quarter. Aristeia Capital L.L.C. now owns 2,414,362 shares of the financial services provider's stock valued at $92,373,000 after purchasing an additional 618,887 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in Atlanta Braves by 8.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,829,000 shares of the financial services provider's stock valued at $73,179,000 after purchasing an additional 138,111 shares during the last quarter. Wellington Management Group LLP boosted its stake in Atlanta Braves by 105.9% during the 1st quarter. Wellington Management Group LLP now owns 1,348,113 shares of the financial services provider's stock valued at $53,938,000 after purchasing an additional 693,351 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Atlanta Braves by 5.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 817,798 shares of the financial services provider's stock valued at $31,288,000 after purchasing an additional 40,827 shares during the last quarter. Finally, Tudor Investment Corp ET AL boosted its stake in Atlanta Braves by 44.3% during the 4th quarter. Tudor Investment Corp ET AL now owns 456,000 shares of the financial services provider's stock valued at $17,447,000 after purchasing an additional 139,952 shares during the last quarter. Institutional investors own 64.88% of the company's stock.

Analysts Set New Price Targets

BATRK has been the subject of a number of analyst reports. Wall Street Zen upgraded Atlanta Braves from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Citigroup upgraded Atlanta Braves to a "hold" rating and set a $45.00 price target for the company in a research note on Friday, June 13th. Finally, Rosenblatt Securities lifted their price target on Atlanta Braves from $52.00 to $69.00 and gave the company a "buy" rating in a research note on Friday, June 20th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.00.

Insider Buying and Selling

In related news, EVP Michael P. Plant sold 69,000 shares of the firm's stock in a transaction that occurred on 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 sale, the executive vice president owned 205,593 shares in the company, valued at approximately $8,840,499. This trade represents a 25.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Derek Gordon Schiller sold 30,000 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $45.50, for a total transaction of $1,365,000.00. Following the completion of the sale, the executive vice president owned 300,233 shares in the company, valued at $13,660,601.50. This represents a 9.08% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 211,605 shares of company stock worth $9,214,527. 11.43% of the stock is owned by insiders.

Atlanta Braves Stock Performance

Shares of BATRK traded up $1.18 on Friday, hitting $44.99. 252,709 shares of the stock traded hands, compared to its average volume of 255,756. The company has a market capitalization of $2.82 billion, a PE ratio of -128.54 and a beta of 0.67. The business has a 50 day simple moving average of $45.34 and a 200 day simple moving average of $41.73. Atlanta Braves Holdings, Inc. has a one year low of $35.46 and a one year high of $47.18.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last issued its earnings results on Thursday, August 7th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.18). The company had revenue of $312.44 million for the quarter, compared to the consensus estimate of $296.36 million. On average, equities analysts expect that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share 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.