Atlanta Braves Holdings, Inc. $BATRK Stake Raised by Parthenon LLC

Key Points

• Parthenon LLC raised its stake in Atlanta Braves Holdings (NASDAQ: BATRK) by 31.3% in Q4, buying an additional 53,321 shares to hold 223,665 shares worth about $8.82 million (≈0.43% of the company).
• Major shareholder John C. Malone bought 35,000 shares on Feb 5 at $44.23, increasing his direct ownership to 521,862 shares (a 7.19% rise) valued at roughly $23.08 million.
• Analyst views are mixed but skew positive overall: MarketBeat shows a consensus of Moderate Buy with an average price target of $60, while recent notes range from Rosenblatt's $75 "buy" to Weiss's "sell"; the company also beat Q4 EPS estimates (reported ($0.28) vs. est. ($0.66)) and posted $61.3M in revenue.

Parthenon LLC increased its holdings in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) by 31.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 223,665 shares of the financial services provider's stock after acquiring an additional 53,321 shares during the period. Parthenon LLC owned about 0.43% of Atlanta Braves worth $8,824,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of BATRK. Quent Capital LLC purchased a new stake in shares of Atlanta Braves during the 3rd quarter worth about $28,000. First Horizon Corp purchased a new stake in shares of Atlanta Braves during the 3rd quarter worth about $30,000. Farther Finance Advisors LLC raised its stake in shares of Atlanta Braves by 701.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 761 shares of the financial services provider's stock worth $32,000 after purchasing an additional 666 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Atlanta Braves by 218.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 799 shares of the financial services provider's stock worth $33,000 after purchasing an additional 548 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Atlanta Braves by 956.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 697 shares of the financial services provider's stock worth $33,000 after purchasing an additional 631 shares in the last quarter. 64.88% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Atlanta Braves

In other Atlanta Braves news, major shareholder John C. Malone bought 35,000 shares of the stock in a transaction on Thursday, February 5th. The shares were purchased at an average price of $44.23 per share, with a total value of $1,548,050.00. Following the acquisition, the insider directly owned 521,862 shares of the company's stock, valued at $23,081,956.26. This represents a 7.19% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 11.43% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

BATRK has been the subject of a number of recent research reports. Rosenblatt Securities raised their price target on Atlanta Braves from $69.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, April 2nd. Zacks Research raised Atlanta Braves from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 5th. Wall Street Zen raised Atlanta Braves from a "sell" rating to a "hold" rating in a research note on Saturday, April 4th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Atlanta Braves in a research note on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $60.00.

Atlanta Braves Stock Performance

Shares of NASDAQ BATRK opened at $44.18 on Friday. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of -113.28 and a beta of 0.53. The business's 50-day simple moving average is $42.66 and its 200-day simple moving average is $40.72. Atlanta Braves Holdings, Inc. has a 52 week low of $37.32 and a 52 week high of $47.18.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The financial services provider reported ($0.28) EPS for the quarter, beating analysts' consensus estimates of ($0.66) by $0.38. The company had revenue of $61.30 million for the quarter, compared to analyst estimates of $54.93 million. As a group, equities research analysts forecast that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current year.

Atlanta Braves Profile

The Atlanta Braves Real Estate Ownership Trust NASDAQ: BATRK is a publicly traded real estate investment trust established in 2021 by Liberty Braves Group. The trust's primary purpose is to own and manage a portfolio of sports and entertainment properties related to the Atlanta Braves baseball franchise. BATRK generates stable rental income by leasing its assets to the Braves Baseball Club, LLC, under long-term lease agreements designed to align property performance with franchise needs.

The trust's portfolio is anchored by Truist Park, the 41,084-seat baseball stadium that has served as the Braves' home since 2017.

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