Atlanta Braves Holdings, Inc. $BATRK Stake Raised by Everett Harris & Co. CA

Key Points

• Everett Harris & Co. CA increased its Atlanta Braves stake by 197.7% in the third quarter, adding 132,535 shares to own 199,569 shares valued at approximately $10.6 million. Institutional investors collectively hold 64.88% of the company.
• Analyst sentiment is mixed, with one Buy, two Hold and one Sell rating; the consensus is Hold with an average price target of $63.50. The stock opened at $50.21 and recently traded between $37.76 and $54.86 over the past year.
• Atlanta Braves executives Gregory Heller and Derek Schiller sold shares worth approximately $4.3 million and $9.3 million, respectively, under pre-arranged Rule 10b5-1 plans. The company also reported quarterly revenue of $305.1 million and an adjusted loss of $0.19 per share, missing analyst expectations.

Everett Harris & Co. CA increased its holdings in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) by 197.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 199,569 shares of the financial services provider's stock after purchasing an additional 132,535 shares during the period. Everett Harris & Co. CA owned approximately 0.38% of Atlanta Braves worth $10,565,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. D.A. Davidson & CO. bought a new position in shares of Atlanta Braves in the 3rd quarter valued at about $811,000. Marest Capital LLC bought a new stake in Atlanta Braves during the third quarter worth approximately $319,000. Sterling Capital Management LLC increased its stake in Atlanta Braves by 838.9% during the third quarter. Sterling Capital Management LLC now owns 1,643 shares of the financial services provider's stock worth $87,000 after acquiring an additional 1,468 shares during the last quarter. Wavvest Wealth LLC bought a new stake in Atlanta Braves during the third quarter worth approximately $575,000. Finally, Pinnacle Associates Ltd. increased its stake in Atlanta Braves by 9.0% during the third quarter. Pinnacle Associates Ltd. now owns 5,193 shares of the financial services provider's stock worth $275,000 after acquiring an additional 428 shares during the last quarter. Hedge funds and other institutional investors own 64.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Atlanta Braves in a report on Monday, September 21st. Rosenblatt Securities cut their target price on Atlanta Braves from $75.00 to $73.00 and set a "buy" rating on the stock in a research report on Friday, August 7th. Wall Street Zen lowered Atlanta Braves from a "hold" rating to a "strong sell" rating in a report on Saturday, August 8th. Finally, Morgan Stanley downgraded Atlanta Braves from an "overweight" rating to an "equal weight" rating and set a $54.00 price target for the company. in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $63.50.

Insider Transactions at Atlanta Braves

In related news, EVP Gregory Heller sold 80,263 shares of the firm's stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $53.89, for a total value of $4,325,373.07. Following the transaction, the executive vice president owned 22,741 shares of the company's stock, valued at $1,225,512.49. This trade represents a 77.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Derek Schiller sold 175,395 shares of the firm's stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $53.20, for a total transaction of $9,331,014.00. Following the completion of the transaction, the executive vice president directly owned 316,908 shares in the company, valued at $16,859,505.60. This represents a 35.63% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 11.43% of the company's stock.

Atlanta Braves Stock Performance

BATRK opened at $50.21 on Friday. The business has a fifty day moving average of $51.20 and a 200 day moving average of $48.00. Atlanta Braves Holdings, Inc. has a 52-week low of $37.76 and a 52-week high of $54.86.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last released its earnings results on Wednesday, August 5th. The financial services provider reported ($0.19) earnings per share for the quarter, missing analysts' consensus estimates of $0.31 by ($0.50). The business had revenue of $305.12 million during the quarter, compared to analyst estimates of $319.00 million. On average, analysts expect that Atlanta Braves Holdings, Inc. will post -0.44 EPS for the current fiscal year.

Atlanta Braves Profile

Atlanta Braves Holdings, Inc owns and operates the Atlanta Braves, a Major League Baseball franchise based in Atlanta, Georgia. The organization generates revenue through professional baseball operations, including ticket sales, sponsorships, broadcasting and media rights, licensing, concessions, premium seating and hospitality.

The Braves play their home games at Truist Park, which opened in 2017 in Cobb County, northwest of downtown Atlanta. The surrounding Battery Atlanta development provides additional dining, retail, entertainment, office and residential offerings, as well as event and hospitality services, supporting the company's broader sports and mixed-use real estate activities.

The franchise traces its history to 1871 and has operated in Atlanta since 1966, following earlier periods in Boston and Milwaukee.

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