Atlanta Braves Holdings, Inc. $BATRK Position Lifted by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP significantly increased its stake in Atlanta Braves Holdings, raising it by 105.9% during the first quarter, now owning 1,348,113 shares valued at approximately $53.9 million.
• Atlanta Braves stock opened at $44.99, with a market capitalization of $2.82 billion, along with a PE ratio of -128.54 and a recent earnings report showing a $0.46 EPS, missing estimates by $0.18.
• Multiple analysts have revised their ratings on the stock, with a consensus rating of "Moderate Buy" and an average price target of $57.00, while one analyst has set a price objective as high as $69.00.

Wellington Management Group LLP boosted its stake in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) by 105.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,348,113 shares of the financial services provider's stock after purchasing an additional 693,351 shares during the quarter. Wellington Management Group LLP owned about 2.63% of Atlanta Braves worth $53,938,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of BATRK. T. Rowe Price Investment Management Inc. grew its holdings in Atlanta Braves by 256.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,690,889 shares of the financial services provider's stock valued at $64,694,000 after purchasing an additional 1,215,948 shares during the period. Aristeia Capital L.L.C. grew its holdings in Atlanta Braves by 34.5% in the fourth quarter. Aristeia Capital L.L.C. now owns 2,414,362 shares of the financial services provider's stock valued at $92,373,000 after purchasing an additional 618,887 shares during the period. SG Americas Securities LLC purchased a new stake in Atlanta Braves in the first quarter valued at approximately $12,077,000. Troluce Capital Advisors LLC purchased a new stake in Atlanta Braves in the fourth quarter valued at approximately $10,751,000. Finally, Nuveen LLC purchased a new stake in Atlanta Braves in the first quarter valued at approximately $8,995,000. 64.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Atlanta Braves

In other news, EVP Derek Gordon Schiller sold 72,505 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $43.00, for a total value of $3,117,715.00. Following the completion of the transaction, the executive vice president directly owned 300,233 shares in the company, valued at approximately $12,910,019. This represents a 19.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael P. Plant sold 69,000 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $43.00, for a total transaction of $2,967,000.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 211,605 shares of company stock valued at $9,214,527 over the last 90 days. Insiders own 11.43% of the company's stock.

Atlanta Braves Stock Performance

Shares of BATRK stock traded up $0.04 on Friday, hitting $44.98. The stock had a trading volume of 287,383 shares, compared to its average volume of 250,462. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of -128.51 and a beta of 0.67. The stock's 50 day moving average is $45.44 and its 200-day moving average is $41.89. Atlanta Braves Holdings, Inc. has a 52-week low of $35.46 and a 52-week high of $47.18.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last announced its earnings results 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 for the quarter, compared to analyst estimates of $296.36 million. Equities analysts expect that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current year.

Analyst Ratings Changes

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

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.