Atlanta Braves Holdings, Inc. $BATRK Stock Holdings Boosted by Russell Investments Group Ltd.

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. increased 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 Form 13F filing with the Securities & Exchange Commission. The firm owned 84,287 shares of the financial services provider's stock after buying an additional 36,386 shares during the quarter. Russell Investments Group Ltd. owned 0.16% of Atlanta Braves worth $3,372,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of BATRK. CWM LLC raised 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 worth $33,000 after purchasing an additional 297 shares during the last quarter. Versant Capital Management Inc raised its position in Atlanta Braves by 335.7% in the 1st quarter. Versant Capital Management Inc now owns 1,817 shares of the financial services provider's stock worth $73,000 after buying an additional 1,400 shares during the last quarter. KBC Group NV purchased a new position in Atlanta Braves in the 1st quarter worth about $94,000. PNC Financial Services Group Inc. raised its position in Atlanta Braves by 33.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,021 shares of the financial services provider's stock worth $121,000 after buying an additional 756 shares during the last quarter. Finally, US Bancorp DE raised its position in Atlanta Braves by 10.4% in the 1st quarter. US Bancorp DE now owns 3,160 shares of the financial services provider's stock worth $126,000 after buying an additional 298 shares during the last quarter. Institutional investors own 64.88% of the company's stock.

Atlanta Braves Trading Up 0.1%

Shares of BATRK traded up $0.04 during midday trading on Friday, reaching $44.98. 287,383 shares of the company were exchanged, compared to its average volume of 250,462. The stock has a 50-day moving average price of $45.44 and a 200-day moving average price of $41.89. The company has a market cap of $2.82 billion, a price-to-earnings ratio of -128.51 and a beta of 0.67. Atlanta Braves Holdings, Inc. has a 1-year low of $35.46 and a 1-year 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 (EPS) for the quarter, missing analysts' consensus estimates 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. Equities research analysts anticipate that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current year.

Analyst Ratings Changes

BATRK has been the subject of several research reports. Wall Street Zen raised shares of Atlanta Braves from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Citigroup upgraded Atlanta Braves to a "hold" rating and set a $45.00 target price on the stock in a research note on Friday, June 13th. Finally, Rosenblatt Securities increased their target price on Atlanta Braves from $52.00 to $69.00 and gave the stock 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 given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $57.00.

Insider Activity at Atlanta Braves

In other news, EVP Derek Gordon Schiller sold 72,505 shares of the company's 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 completion of the transaction, the executive vice president directly owned 300,233 shares of the company's stock, valued at approximately $12,910,019. This represents a 19.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael P. Plant sold 69,000 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 value of $2,967,000.00. Following the completion of the transaction, the executive vice president directly owned 205,593 shares of the company's stock, 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 have sold 211,605 shares of company stock valued at $9,214,527 over the last ninety days. Corporate insiders own 11.43% of the company's stock.

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.