Ancora Advisors LLC Boosts Position in Atlanta Braves Holdings, Inc. $BATRK

Key Points

• Ancora Advisors LLC increased its stake in Atlanta Braves Holdings, Inc. by 62.7%, acquiring an additional 83,830 shares during the first quarter, now owning a total of 217,480 shares valued at $8.7 million.
• Several hedge funds have also adjusted their stakes in Atlanta Braves, with notable increases from Southpoint Capital Advisors and Broad Bay Capital Management, leading to hedge funds owning approximately 64.88% of the stock.
• In recent analyst forecasts, Citigroup and Rosenblatt Securities upgraded their ratings and price targets for Atlanta Braves shares, with a current consensus target price of $57.00 and a general sentiment of a "Moderate Buy."

Ancora Advisors LLC increased its position in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) by 62.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 217,480 shares of the financial services provider's stock after acquiring an additional 83,830 shares during the period. Ancora Advisors LLC owned about 0.42% of Atlanta Braves worth $8,701,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Wellington Management Group LLP raised its stake in shares of Atlanta Braves by 105.9% during the first quarter. Wellington Management Group LLP now owns 1,348,113 shares of the financial services provider's stock valued at $53,938,000 after acquiring an additional 693,351 shares during the last quarter. Irenic Capital Management LP bought a new position in shares of Atlanta Braves during the first quarter valued at $15,794,000. Broad Bay Capital Management LP raised its stake in shares of Atlanta Braves by 24.3% during the first quarter. Broad Bay Capital Management LP now owns 1,732,882 shares of the financial services provider's stock valued at $69,333,000 after acquiring an additional 338,655 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Atlanta Braves during the first quarter valued at $12,077,000. Finally, Troluce Capital Advisors LLC bought a new position in shares of Atlanta Braves during the fourth quarter valued at $10,751,000. Institutional investors and hedge funds own 64.88% of the company's stock.

Atlanta Braves Stock Performance

BATRK stock traded down $0.16 during mid-day trading on Monday, hitting $42.21. The company had a trading volume of 307,145 shares, compared to its average volume of 295,737. The stock's fifty day moving average price is $45.13 and its two-hundred day moving average price is $42.04. Atlanta Braves Holdings, Inc. has a 12 month low of $35.46 and a 12 month high of $47.18. The firm has a market cap of $2.65 billion, a PE ratio of -120.77 and a beta of 0.67.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.18). The company had revenue of $312.44 million for the quarter, compared to the consensus estimate of $296.36 million. Equities analysts anticipate that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current year.

Insider Buying and Selling at Atlanta Braves

In other Atlanta Braves news, EVP Derek Gordon Schiller sold 72,505 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $43.00, for a total transaction of $3,117,715.00. Following the sale, the executive vice president owned 300,233 shares in the company, valued at approximately $12,910,019. This trade represents a 19.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael P. Plant sold 69,000 shares of the business's 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 sale, the executive vice president owned 205,593 shares in the company, valued at $8,840,499. This represents a 25.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 211,605 shares of company stock valued at $9,214,527 over the last 90 days.

Analysts Set New Price Targets

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