Atlanta Braves Holdings, Inc. $BATRA Shares Bought by State Street Corp

Key Points

• State Street increased its Atlanta Braves Holdings stake by 10.6% in the second quarter, adding 22,888 shares to own 238,949 shares valued at approximately $13.5 million. Institutional investors collectively hold 12.31% of the company.
• Analyst sentiment remains cautious: Weiss Ratings reiterated a “sell” rating, while coverage consists of one Hold and one Sell rating, resulting in a MarketBeat consensus rating of “Reduce.”
• Atlanta Braves missed quarterly expectations, reporting a loss of $0.19 per share versus an expected $0.29 profit and revenue of $305.12 million versus estimates of $317.09 million. Shares opened at $59.03, near their 12-month high of $59.20.

State Street Corp grew its holdings in Atlanta Braves Holdings, Inc. (NASDAQ:BATRA - Free Report) by 10.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 238,949 shares of the financial services provider's stock after acquiring an additional 22,888 shares during the quarter. State Street Corp owned 0.38% of Atlanta Braves worth $13,455,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Gabelli Funds LLC raised its holdings in Atlanta Braves by 1.3% in the 1st quarter. Gabelli Funds LLC now owns 917,332 shares of the financial services provider's stock valued at $43,252,000 after acquiring an additional 11,932 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Atlanta Braves by 36.4% during the first quarter. Renaissance Technologies LLC now owns 334,700 shares of the financial services provider's stock worth $15,781,000 after buying an additional 89,300 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Atlanta Braves by 5.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 221,916 shares of the financial services provider's stock valued at $10,463,000 after buying an additional 11,392 shares during the period. Hudson Value Partners LLC increased its holdings in Atlanta Braves by 7.2% in the 2nd quarter. Hudson Value Partners LLC now owns 96,702 shares of the financial services provider's stock valued at $5,445,000 after buying an additional 6,525 shares during the period. Finally, Quantinno Capital Management LP raised its stake in shares of Atlanta Braves by 45.6% in the 1st quarter. Quantinno Capital Management LP now owns 63,272 shares of the financial services provider's stock valued at $2,983,000 after buying an additional 19,829 shares in the last quarter. Institutional investors and hedge funds own 12.31% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of Atlanta Braves in a research note on Friday, July 17th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Atlanta Braves has an average rating of "Reduce".

Atlanta Braves Trading Up 0.3%

Shares of BATRA stock opened at $59.03 on Friday. The company has a market capitalization of $3.71 billion, a P/E ratio of -58.45 and a beta of 0.64. Atlanta Braves Holdings, Inc. has a 12-month low of $41.50 and a 12-month high of $59.20. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.06. The firm has a 50-day moving average price of $55.75 and a 200 day moving average price of $53.74.

Atlanta Braves (NASDAQ:BATRA - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported ($0.19) EPS for the quarter, missing analysts' consensus estimates of $0.29 by ($0.48). Atlanta Braves had a negative return on equity of 7.45% and a negative net margin of 8.56%.The business had revenue of $305.12 million during the quarter, compared to analyst estimates of $317.09 million. Research analysts forecast that Atlanta Braves Holdings, Inc. will post -0.41 earnings per share for the current fiscal year.

Atlanta Braves Profile

Atlanta Braves Holdings, Inc owns and operates the Atlanta Braves, a Major League Baseball franchise based in Atlanta, Georgia. The Braves compete in MLB's National League East and generate revenue through ticket sales, premium seating, sponsorships, broadcasting and digital rights, licensing, merchandise, concessions, and other team-related activities.

The company also owns and operates Truist Park, the Braves' home stadium, and The Battery Atlanta, a mixed-use development surrounding the ballpark.

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