Troluce Capital Advisors LLC Sells 222,760 Shares of Atlanta Braves Holdings, Inc. $BATRK

Key Points

• Troluce Capital Advisors LLC significantly reduced its stake in Atlanta Braves Holdings, Inc. by 79.3% during the first quarter, now holding about 58,240 shares, which constitutes approximately 0.7% of their investment portfolio.
• Several hedge funds, including T. Rowe Price and Wellington Management Group, have increased their positions in Atlanta Braves, with Wellington showing a remarkable 105.9% increase.
• Atlanta Braves reported earnings per share of $0.46 for the last quarter, falling short of the consensus estimate of $0.64, although revenue surpassed expectations at $312.44 million.

Troluce Capital Advisors LLC lowered its holdings in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) by 79.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,240 shares of the financial services provider's stock after selling 222,760 shares during the period. Atlanta Braves comprises 0.7% of Troluce Capital Advisors LLC's portfolio, making the stock its 16th largest holding. Troluce Capital Advisors LLC owned approximately 0.11% of Atlanta Braves worth $2,330,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of BATRK. CWM LLC boosted its stake in 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 buying an additional 297 shares in the last quarter. Comerica Bank boosted its stake in Atlanta Braves by 44.8% during the first quarter. Comerica Bank now owns 1,031 shares of the financial services provider's stock worth $41,000 after buying an additional 319 shares in the last quarter. Summit Securities Group LLC acquired a new stake in Atlanta Braves during the first quarter worth $60,000. Versant Capital Management Inc boosted its stake in Atlanta Braves by 335.7% during the first 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 in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Atlanta Braves during the first quarter worth $84,000. Institutional investors and hedge funds own 64.88% of the company's stock.

Atlanta Braves Stock Performance

Shares of NASDAQ BATRK traded down $0.60 during midday trading on Friday, reaching $42.36. 373,440 shares of the company traded hands, compared to its average volume of 254,278. The firm has a market cap of $2.66 billion, a PE ratio of -121.03 and a beta of 0.67. The stock's 50-day simple moving average is $45.13 and its 200-day simple moving average is $42.01. Atlanta Braves Holdings, Inc. has a 12 month low of $35.46 and a 12 month high of $47.18.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $312.44 million during the quarter, compared to the consensus estimate of $296.36 million. On average, equities research analysts expect that Atlanta Braves Holdings, Inc. will post -0.89 EPS for the current year.

Insider Transactions at Atlanta Braves

In related news, 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 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. The trade was a 25.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Derek Gordon Schiller sold 72,505 shares of Atlanta Braves stock in a transaction dated 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 of the company's stock, valued at $12,910,019. This represents a 19.45% 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 ninety days. 11.43% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

About Atlanta Braves

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.