Keeley Teton Advisors LLC Has $1.63 Million Stock Position in Atlanta Braves Holdings, Inc. $BATRK

Key Points

• Keeley Teton Advisors LLC reduced its stake in Atlanta Braves Holdings by 47.2%, selling over 36,000 shares, and now holds 40,666 shares valued at approximately $1.63 million.
• Despite a revenue of $312.44 million for the quarter, Atlanta Braves missed earnings expectations, reporting $0.46 per share against a forecast of $0.64.
• Analysts have varied opinions on BATRK, with Rosenblatt Securities upping its price target to $69.00 while the consensus rating stands at a "Moderate Buy" with a price target of $57.00.

Keeley Teton Advisors LLC lowered its position in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) by 47.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,666 shares of the financial services provider's stock after selling 36,309 shares during the period. Keeley Teton Advisors LLC owned 0.08% of Atlanta Braves worth $1,627,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. CWM LLC raised its stake 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 acquiring an additional 297 shares in the last quarter. Comerica Bank grew its holdings in shares of Atlanta Braves by 44.8% in the first quarter. Comerica Bank now owns 1,031 shares of the financial services provider's stock worth $41,000 after purchasing an additional 319 shares during the last quarter. Summit Securities Group LLC bought a new stake in Atlanta Braves in the first quarter valued at $60,000. Versant Capital Management Inc boosted its holdings 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 in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in Atlanta Braves in the first quarter valued at $84,000. Hedge funds and other institutional investors own 64.88% of the company's stock.

Atlanta Braves Stock Performance

Atlanta Braves stock traded up $0.04 during midday trading on Friday, reaching $44.98. The company's stock had a trading volume of 287,383 shares, compared to its average volume of 250,462. Atlanta Braves Holdings, Inc. has a fifty-two week low of $35.46 and a fifty-two week high of $47.18. The stock's 50 day simple moving average is $45.44 and its 200 day simple moving average is $41.91. The firm has a market capitalization of $2.82 billion, a PE ratio of -128.51 and a beta of 0.67.

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 company had revenue of $312.44 million for the quarter, compared to analysts' expectations of $296.36 million. Equities analysts predict 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. Rosenblatt Securities upped their price target on shares of Atlanta Braves from $52.00 to $69.00 and gave the company a "buy" rating in a research report on Friday, June 20th. Citigroup upgraded shares of 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, Wall Street Zen upgraded Atlanta Braves from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $57.00.

Insiders Place Their Bets

In other news, EVP Derek Gordon Schiller sold 72,505 shares of Atlanta Braves 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 sale, the executive vice president owned 300,233 shares of the company's stock, valued at approximately $12,910,019. This trade represents a 19.45% decrease in their position. The sale 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 business'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 sale, the executive vice president owned 205,593 shares of the company's stock, valued at approximately $8,840,499. The trade was 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 in the last quarter. 11.43% of the stock is currently owned by corporate insiders.

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.