Atlanta Braves Holdings, Inc. $BATRA Shares Bought by Renaissance Technologies LLC

Key Points

• Renaissance Technologies increased its Atlanta Braves Holdings stake by 36.4% in the first quarter, purchasing 89,300 additional shares and bringing its holdings to 334,700 shares worth approximately $15.8 million.
• Other institutional investors also adjusted their positions, while hedge funds and institutional investors collectively owned 12.31% of BATRA.
• BATRA shares opened at $54.41, with the company reporting better-than-expected quarterly results, but analyst sentiment remained cautious: the stock carries an average “Reduce” rating, including one Hold and one Sell rating.

Renaissance Technologies LLC grew its holdings in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRA - Free Report) by 36.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 334,700 shares of the financial services provider's stock after purchasing an additional 89,300 shares during the period. Renaissance Technologies LLC owned about 0.53% of Atlanta Braves worth $15,781,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in BATRA. AQR Capital Management LLC purchased a new position in shares of Atlanta Braves in the first quarter valued at approximately $211,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Atlanta Braves by 4.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,061 shares of the financial services provider's stock worth $266,000 after buying an additional 234 shares during the period. Jane Street Group LLC acquired a new stake in Atlanta Braves during the 1st quarter worth approximately $385,000. Legal & General Group Plc lifted its holdings in Atlanta Braves by 8.3% during the 2nd quarter. Legal & General Group Plc now owns 8,007 shares of the financial services provider's stock worth $394,000 after buying an additional 614 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Atlanta Braves by 1,873.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 513 shares of the financial services provider's stock valued at $25,000 after buying an additional 487 shares during the period. Institutional investors and hedge funds own 12.31% of the company's stock.

Atlanta Braves Stock Performance

Shares of BATRA opened at $54.41 on Friday. Atlanta Braves Holdings, Inc. has a 1 year low of $41.50 and a 1 year high of $58.37. The stock has a market capitalization of $3.42 billion, a PE ratio of -151.14 and a beta of 0.63. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.46 and a current ratio of 0.46. The stock has a 50-day simple moving average of $55.28 and a 200-day simple moving average of $50.80.

Atlanta Braves (NASDAQ:BATRA - Get Free Report) last released its earnings results on Monday, May 11th. The financial services provider reported ($0.63) earnings per share for the quarter, topping analysts' consensus estimates of ($0.72) by $0.09. The firm had revenue of $72.01 million for the quarter, compared to analyst estimates of $68.69 million. Atlanta Braves had a negative net margin of 2.97% and a positive return on equity of 0.25%. On average, analysts predict that Atlanta Braves Holdings, Inc. will post 0.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Atlanta Braves in a research note on Friday, July 17th. Zacks Research cut Atlanta Braves from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Reduce".

Atlanta Braves Company Profile

The Atlanta Braves NASDAQ: BATRA are a professional baseball club that competes in Major League Baseball's National League East division. Founded in 1871 as the Boston Red Stockings, the franchise relocated to Milwaukee in 1953 before settling in Atlanta in 1966. As one of MLB's oldest and most storied organizations, the Braves are responsible for fielding a Major League team, overseeing player development through a network of minor league affiliates, and managing baseball operations under the leadership of President of Baseball Operations Alex Anthopoulos.

Beyond on‐field performance, the Braves operate a diversified sports and entertainment business.

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.