AlphaQuest LLC Makes New $310,000 Investment in Atlanta Braves Holdings, Inc. $BATRA

Key Points

• AlphaQuest LLC has acquired a new position in Atlanta Braves Holdings, Inc., purchasing 7,055 shares valued at approximately $310,000 in the first quarter.
• Insider selling activity includes EVP Derek Gordon Schiller and EVP Michael P. Plant, who sold a combined total of 99,000 shares valued over $4.3 million in June.
• Citi has initiated coverage on Atlanta Braves with a "neutral" rating and a price target of $45.00, while analysts generally forecast a consensus price target of $52.50.

AlphaQuest LLC acquired a new position in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRA - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 7,055 shares of the financial services provider's stock, valued at approximately $310,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Atlanta Braves by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 594,802 shares of the financial services provider's stock worth $26,094,000 after purchasing an additional 4,959 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Atlanta Braves by 0.5% in the 4th quarter. Northern Trust Corp now owns 95,644 shares of the financial services provider's stock worth $3,902,000 after buying an additional 436 shares during the last quarter. Hudson Value Partners LLC purchased a new position in shares of Atlanta Braves in the 1st quarter worth approximately $3,830,000. GAMMA Investing LLC boosted its stake in shares of Atlanta Braves by 5,387.2% in the 1st quarter. GAMMA Investing LLC now owns 52,951 shares of the financial services provider's stock worth $23,230,000 after buying an additional 51,986 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of Atlanta Braves in the 1st quarter worth approximately $1,596,000. 12.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Citigroup initiated coverage on Atlanta Braves in a research note on Friday, June 13th. They issued a "neutral" rating and a $45.00 target price on the stock. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $52.50.

Insider Activity at Atlanta Braves

In related news, EVP Derek Gordon Schiller sold 72,505 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $43.00, for a total value of $3,117,715.00. Following the transaction, the executive vice president owned 300,233 shares in the company, valued at approximately $12,910,019. This represents a 19.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael P. Plant sold 69,000 shares of the company'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 completion of the transaction, the executive vice president owned 205,593 shares in the company, valued at approximately $8,840,499. The trade was a 25.13% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 211,605 shares of company stock worth $9,214,527. 5.90% of the stock is owned by company insiders.

Atlanta Braves Stock Performance

Atlanta Braves stock traded up $0.08 during trading on Monday, hitting $47.51. The stock had a trading volume of 23,525 shares, compared to its average volume of 31,642. Atlanta Braves Holdings, Inc. has a 1 year low of $38.67 and a 1 year high of $50.50. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.31. The stock's 50 day moving average is $48.24 and its two-hundred day moving average is $45.18. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of -135.74 and a beta of 0.68.

Atlanta Braves (NASDAQ:BATRA - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.46 EPS for the quarter, beating the consensus estimate of $0.34 by $0.12. Atlanta Braves had a negative return on equity of 3.98% and a negative net margin of 2.99%.The business had revenue of $312.44 million for the quarter, compared to the consensus estimate of $295.86 million. As a group, analysts predict that Atlanta Braves Holdings, Inc. will post -0.98 EPS 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.