Aristeia Capital L.L.C. Increases Stake in Atlanta Braves Holdings, Inc. $BATRK

Key Points

• Aristeia Capital L.L.C. increased its stake in Atlanta Braves Holdings by 2.3%, acquiring a total of 2,470,052 shares, which amounts to approximately $98.8 million.
• Several other institutional investors also boosted their holdings in Atlanta Braves, with notable increases of 56.4% and 335.7% from CWM LLC and Versant Capital Management, respectively.
• Analysts view Atlanta Braves stock positively, with a consensus target price of $57.00 and recent upgrades from Rosenblatt Securities and Citigroup.

Aristeia Capital L.L.C. lifted its stake in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) by 2.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,470,052 shares of the financial services provider's stock after acquiring an additional 55,690 shares during the quarter. Atlanta Braves accounts for about 2.5% of Aristeia Capital L.L.C.'s investment portfolio, making the stock its 6th largest holding. Aristeia Capital L.L.C. owned 4.82% of Atlanta Braves worth $98,827,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Gabelli Funds LLC grew its stake in shares of Atlanta Braves by 3.7% in the first quarter. Gabelli Funds LLC now owns 1,473,271 shares of the financial services provider's stock worth $58,946,000 after acquiring an additional 52,777 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Atlanta Braves by 76.0% in the first quarter. Russell Investments Group Ltd. now owns 84,287 shares of the financial services provider's stock worth $3,372,000 after buying an additional 36,386 shares during the last quarter. Foundations Investment Advisors LLC boosted its holdings in shares of Atlanta Braves by 143.5% in the first quarter. Foundations Investment Advisors LLC now owns 14,632 shares of the financial services provider's stock worth $585,000 after buying an additional 8,624 shares during the last quarter. Southpoint Capital Advisors LP boosted its holdings in shares of Atlanta Braves by 6.7% in the first quarter. Southpoint Capital Advisors LP now owns 800,000 shares of the financial services provider's stock worth $32,008,000 after buying an additional 50,000 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in shares of Atlanta Braves in the first quarter worth approximately $253,000. 64.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on BATRK. Rosenblatt Securities raised their price objective on shares of Atlanta Braves from $52.00 to $69.00 and gave the stock a "buy" rating in a report on Friday, June 20th. Wall Street Zen raised shares of Atlanta Braves from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Citigroup raised shares of Atlanta Braves to a "hold" rating and set a $45.00 price objective on the stock in a report on Friday, June 13th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $57.00.

Atlanta Braves Stock Down 0.8%

NASDAQ:BATRK traded down $0.35 during trading hours on Friday, hitting $42.05. 224,903 shares of the stock traded hands, compared to its average volume of 299,570. Atlanta Braves Holdings, Inc. has a 1 year low of $35.46 and a 1 year high of $47.18. The company has a market cap of $2.64 billion, a price-to-earnings ratio of -120.14 and a beta of 0.67. The stock has a 50 day moving average price of $44.68 and a 200 day moving average price of $42.09.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.18). The business had revenue of $312.44 million for the quarter, compared to analyst estimates of $296.36 million. Equities analysts forecast that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Derek Gordon Schiller sold 30,000 shares of Atlanta Braves stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $45.50, for a total transaction of $1,365,000.00. Following the sale, the executive vice president owned 300,233 shares in the company, valued at $13,660,601.50. This trade represents a 9.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 70,100 shares of company stock worth $3,129,812 in the last quarter. Company insiders own 11.43% of the company's stock.

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.