Russell Investments Group Ltd. Buys 36,386 Shares of Atlanta Braves Holdings, Inc. $BATRK

Key Points

• Russell Investments Group Ltd. increased its stake in Atlanta Braves Holdings by 76.0%, owning approximately 0.16% of the company's stock valued at $3,372,000 as of the latest SEC filing.
• Insider activity includes Mario J. Gabelli increasing his position by purchasing 1,549 shares, while EVP Derek Gordon Schiller sold 72,505 shares, representing a 19.45% decrease in his ownership.
• Analysts have issued mixed ratings for Atlanta Braves, with price targets ranging from $45.00 to $69.00, reflecting a cautious optimism in the stock's potential performance.

Russell Investments Group Ltd. boosted its position in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) by 76.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 84,287 shares of the financial services provider's stock after acquiring an additional 36,386 shares during the period. Russell Investments Group Ltd. owned 0.16% of Atlanta Braves worth $3,372,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. CWM LLC increased its position in shares of Atlanta Braves by 56.4% in the 1st quarter. CWM LLC now owns 824 shares of the financial services provider's stock valued at $33,000 after buying an additional 297 shares in the last quarter. Versant Capital Management Inc grew its stake in Atlanta Braves by 335.7% in the first quarter. Versant Capital Management Inc now owns 1,817 shares of the financial services provider's stock valued at $73,000 after acquiring an additional 1,400 shares during the period. KBC Group NV bought a new stake in shares of Atlanta Braves in the first quarter worth about $94,000. PNC Financial Services Group Inc. raised its position in shares of Atlanta Braves by 33.4% during the first quarter. PNC Financial Services Group Inc. now owns 3,021 shares of the financial services provider's stock worth $121,000 after purchasing an additional 756 shares during the period. Finally, US Bancorp DE raised its position in shares of Atlanta Braves by 10.4% during the first quarter. US Bancorp DE now owns 3,160 shares of the financial services provider's stock worth $126,000 after purchasing an additional 298 shares during the period. 64.88% of the stock is owned by institutional investors.

Atlanta Braves Price Performance

BATRK stock traded down $0.09 during trading hours on Thursday, reaching $44.77. The stock had a trading volume of 101,609 shares, compared to its average volume of 292,065. The stock has a 50-day simple moving average of $45.44 and a 200 day simple moving average of $41.82. Atlanta Braves Holdings, Inc. has a fifty-two week low of $35.46 and a fifty-two week high of $47.18. The stock has a market capitalization of $2.81 billion, a PE ratio of -127.83 and a beta of 0.67.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last issued its earnings results on Thursday, August 7th. The financial services provider reported $0.46 earnings per share (EPS) 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 the consensus estimate of $296.36 million. On average, sell-side analysts forecast that Atlanta Braves Holdings, Inc. will post -0.89 EPS for the current fiscal year.

Insider Activity at Atlanta Braves

In other news, EVP Derek Gordon Schiller sold 72,505 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $43.00, for a total transaction of $3,117,715.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael P. Plant sold 69,000 shares of Atlanta Braves stock in a transaction dated 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 of the company's stock, valued at $8,840,499. This trade represents a 25.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold 211,605 shares of company stock worth $9,214,527 in the last ninety days. 11.43% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on BATRK. Wall Street Zen upgraded shares of Atlanta Braves from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Citigroup upgraded Atlanta Braves to a "hold" rating and set a $45.00 price objective for the company in a report on Friday, June 13th. Finally, Rosenblatt Securities boosted their target price on Atlanta Braves from $52.00 to $69.00 and gave the company a "buy" rating in a research note on Friday, June 20th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently 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.