Bank of America Corp DE Increases Stock Holdings in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK)

Bank of America Corp DE lifted its holdings in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) by 34.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 75,907 shares of the financial services provider's stock after acquiring an additional 19,529 shares during the period. Bank of America Corp DE owned approximately 0.15% of Atlanta Braves worth $2,904,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Federated Hermes Inc. bought a new position in shares of Atlanta Braves in the fourth quarter worth about $40,000. R Squared Ltd acquired a new stake in Atlanta Braves during the 4th quarter valued at approximately $41,000. PNC Financial Services Group Inc. increased its position in Atlanta Braves by 25.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,265 shares of the financial services provider's stock valued at $87,000 after purchasing an additional 463 shares during the period. US Bancorp DE grew its position in Atlanta Braves by 17.7% in the 4th quarter. US Bancorp DE now owns 2,862 shares of the financial services provider's stock valued at $110,000 after purchasing an additional 430 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in Atlanta Braves by 687.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,463 shares of the financial services provider's stock valued at $132,000 after purchasing an additional 3,023 shares during the period. 64.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Atlanta Braves from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd.

Atlanta Braves Stock Performance

NASDAQ:BATRK traded up $0.25 during mid-day trading on Monday, reaching $40.86. The stock had a trading volume of 218,330 shares, compared to its average volume of 281,374. The firm has a 50 day moving average price of $39.56 and a two-hundred day moving average price of $39.26. The stock has a market capitalization of $2.10 billion, a P/E ratio of -55.97 and a beta of 0.56. Atlanta Braves Holdings, Inc. has a one year low of $35.46 and a one year high of $44.43.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The financial services provider reported ($0.66) earnings per share for the quarter, beating the consensus estimate of ($0.94) by $0.28. The company had revenue of $47.21 million during the quarter, compared to the consensus estimate of $36.87 million. Research analysts forecast that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current year.

Insider Activity at Atlanta Braves

In other Atlanta Braves news, major shareholder Mario J. Gabelli acquired 1,549 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The shares were bought at an average cost of $43.45 per share, with a total value of $67,304.05. Following the completion of the transaction, the insider now directly owns 27,152 shares of the company's stock, valued at approximately $1,179,754.40. This represents a 6.05% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder John C. Malone acquired 38,452 shares of the company's stock in a transaction that occurred on Tuesday, April 8th. The shares were acquired at an average cost of $40.28 per share, for a total transaction of $1,548,846.56. Following the completion of the transaction, the insider now directly owns 254,428 shares of the company's stock, valued at $10,248,359.84. The trade was a 17.80% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 124,632 shares of company stock worth $5,159,623 over the last quarter. 11.43% of the stock is owned by corporate insiders.

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.