Atlanta Braves Holdings, Inc. $BATRK Position Increased by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. increased its position in Atlanta Braves Holdings by 8.2%, owning a total of 1,829,000 shares worth $73.18 million.
• Several institutional investors have recently adjusted their stakes, with Wellington Management Group growing its position by 105.9% during the 1st quarter.
• Analysts have a consensus rating of "Moderate Buy" for Atlanta Braves stock, with target prices ranging from $45.00 to $69.00.

T. Rowe Price Investment Management Inc. boosted its position in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) by 8.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,829,000 shares of the financial services provider's stock after purchasing an additional 138,111 shares during the period. T. Rowe Price Investment Management Inc. owned 3.57% of Atlanta Braves worth $73,179,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Atlanta Braves during the 1st quarter worth approximately $84,000. Wellington Management Group LLP grew its position in Atlanta Braves by 105.9% during the 1st quarter. Wellington Management Group LLP now owns 1,348,113 shares of the financial services provider's stock worth $53,938,000 after purchasing an additional 693,351 shares in the last quarter. Summit Securities Group LLC purchased a new position in Atlanta Braves during the 1st quarter worth approximately $60,000. Raymond James Financial Inc. grew its position in Atlanta Braves by 112.2% during the 1st quarter. Raymond James Financial Inc. now owns 184,384 shares of the financial services provider's stock worth $7,377,000 after purchasing an additional 97,506 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in Atlanta Braves by 76.0% during the 1st quarter. Russell Investments Group Ltd. now owns 84,287 shares of the financial services provider's stock worth $3,372,000 after purchasing an additional 36,386 shares in the last quarter. 64.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Wall Street Zen upgraded shares of Atlanta Braves from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Rosenblatt Securities lifted their target price on shares of Atlanta Braves from $52.00 to $69.00 and gave the company a "buy" rating in a research note on Friday, June 20th. Finally, Citigroup raised shares of Atlanta Braves to a "hold" rating and set a $45.00 target price for the company in a research note on Friday, June 13th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Atlanta Braves has a consensus rating of "Moderate Buy" and a consensus target price of $57.00.

Insider Activity

In other Atlanta Braves news, major shareholder Mario J. Gabelli purchased 1,549 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were acquired at an average price of $43.45 per share, for a total transaction of $67,304.05. Following the acquisition, the insider owned 27,152 shares of the company's stock, valued at $1,179,754.40. This trade represents a 6.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael P. Plant sold 69,000 shares of Atlanta Braves stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $43.00, for a total transaction of $2,967,000.00. Following the completion of the transaction, the executive vice president owned 205,593 shares in the company, valued at $8,840,499. This trade represents a 25.13% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 211,605 shares of company stock worth $9,214,527. 11.43% of the stock is owned by corporate insiders.

Atlanta Braves Stock Up 2.7%

Shares of NASDAQ:BATRK opened at $44.99 on Friday. The firm has a fifty day moving average of $45.34 and a two-hundred day moving average of $41.72. The firm has a market capitalization of $2.82 billion, a P/E ratio of -128.54 and a beta of 0.67. Atlanta Braves Holdings, Inc. has a 12-month low of $35.46 and a 12-month high of $47.18.

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

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