Focus Partners Wealth Decreases Stake in Atlanta Braves Holdings, Inc. $BATRA

Key Points

• Focus Partners Wealth has reduced its stake in Atlanta Braves Holdings, Inc. (NASDAQ:BATRA) by 6.4%, now holding 96,252 shares valued at approximately $4.22 million as of the last SEC filing.
• Institutional investors now hold 12.31% of the stock, with new acquisitions from firms like GAMMA Investing LLC, which increased its position by over 5,387% in the first quarter.
• Atlanta Braves reported a quarterly earnings per share of $0.46, surpassing analyst expectations, with a revenue of $312.44 million, significantly higher than the anticipated $295.86 million.

Focus Partners Wealth reduced its holdings in Atlanta Braves Holdings, Inc. (NASDAQ:BATRA - Free Report) by 6.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 96,252 shares of the financial services provider's stock after selling 6,576 shares during the period. Focus Partners Wealth owned approximately 0.16% of Atlanta Braves worth $4,223,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in BATRA. Northern Trust Corp lifted 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 valued at $3,902,000 after purchasing an additional 436 shares during the period. BNP Paribas Financial Markets acquired a new position in Atlanta Braves in the fourth quarter valued at about $59,000. Bank of America Corp DE raised its position in shares of Atlanta Braves by 13.4% in the 4th quarter. Bank of America Corp DE now owns 20,004 shares of the financial services provider's stock valued at $816,000 after acquiring an additional 2,367 shares during the period. D. E. Shaw & Co. Inc. raised its position in shares of Atlanta Braves by 41.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 13,456 shares of the financial services provider's stock valued at $549,000 after acquiring an additional 3,945 shares during the period. Finally, Occudo Quantitative Strategies LP acquired a new stake in shares of Atlanta Braves in the 4th quarter valued at approximately $220,000. Institutional investors and hedge funds own 12.31% of the company's stock.

Wall Street Analyst Weigh In

Separately, Citigroup began coverage on shares of Atlanta Braves in a report 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 assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $52.50.

Atlanta Braves Price Performance

Shares of NASDAQ BATRA traded up $0.07 during mid-day trading on Thursday, hitting $45.41. 14,557 shares of the stock traded hands, compared to its average volume of 51,890. The firm has a 50 day simple moving average of $47.41 and a two-hundred day simple moving average of $45.37. Atlanta Braves Holdings, Inc. has a twelve month low of $38.67 and a twelve month high of $50.50. The company has a market cap of $2.85 billion, a PE ratio of -129.74 and a beta of 0.68. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.64 and a quick ratio of 0.64.

Atlanta Braves (NASDAQ:BATRA - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.46 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.12. The company had revenue of $312.44 million for the quarter, compared to analyst estimates of $295.86 million. Atlanta Braves had a negative net margin of 2.99% and a negative return on equity of 3.98%. As a group, equities research analysts forecast that Atlanta Braves Holdings, Inc. will post -0.98 EPS for the current fiscal year.

Insider Transactions at Atlanta Braves

In related news, EVP Derek Gordon Schiller sold 30,000 shares of the business's stock in a transaction 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 transaction, the executive vice president owned 300,233 shares in the company, valued at $13,660,601.50. The trade was a 9.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.90% of the company's stock.

About Atlanta Braves

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.