T. Rowe Price Investment Management Inc. Buys 138,111 Shares of Atlanta Braves Holdings, Inc. $BATRK

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 disclosure with the Securities & Exchange Commission. The firm owned 1,829,000 shares of the financial services provider's stock after buying an additional 138,111 shares during the period. T. Rowe Price Investment Management Inc. owned 3.57% of Atlanta Braves worth $73,179,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of BATRK. CWM LLC grew its holdings in shares of Atlanta Braves by 56.4% during the first quarter. CWM LLC now owns 824 shares of the financial services provider's stock worth $33,000 after buying an additional 297 shares during the last quarter. Summit Securities Group LLC purchased a new stake in Atlanta Braves during the 1st quarter valued at approximately $60,000. Versant Capital Management Inc lifted its position in Atlanta Braves by 335.7% during the 1st quarter. Versant Capital Management Inc now owns 1,817 shares of the financial services provider's stock worth $73,000 after acquiring an additional 1,400 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Atlanta Braves in the 1st quarter valued at approximately $84,000. Finally, KBC Group NV purchased a new position in shares of Atlanta Braves in the 1st quarter valued at approximately $94,000. 64.88% of the stock is currently owned by hedge funds and other institutional investors.

Atlanta Braves Stock Performance

Shares of BATRK stock traded down $0.22 during midday trading on Thursday, reaching $44.64. 45,583 shares of the company were exchanged, compared to its average volume of 291,748. The company's 50 day moving average price is $45.44 and its two-hundred day moving average price is $41.82. The company has a market cap of $2.80 billion, a P/E ratio of -127.63 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 announced its quarterly earnings data 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 firm had revenue of $312.44 million during the quarter, compared to analyst estimates of $296.36 million. As a group, sell-side analysts predict that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Atlanta Braves news, EVP Michael P. Plant sold 69,000 shares of the company's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $43.00, for a total value of $2,967,000.00. Following the transaction, the executive vice president owned 205,593 shares of the company's stock, valued at approximately $8,840,499. This represents a 25.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Derek Gordon Schiller sold 30,000 shares of the firm's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $45.50, for a total value of $1,365,000.00. Following the sale, the executive vice president directly owned 300,233 shares of the company's stock, valued at approximately $13,660,601.50. This represents a 9.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 211,605 shares of company stock worth $9,214,527 over the last quarter. Insiders own 11.43% of the company's stock.

Atlanta Braves Company 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.