Foundations Investment Advisors LLC Acquires 8,624 Shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK)

Key Points

• Foundations Investment Advisors LLC increased its stake in Atlanta Braves Holdings by 143.5% during the first quarter, holding 14,632 shares valued at approximately $585,000.
• Equities research analysts have given varied ratings for Atlanta Braves, with Rosenblatt Securities raising its price target from $52.00 to $69.00, while Citigroup set a target of $45.00.
• Insider trading activity saw significant sales, including EVP Michael P. Plant selling 69,000 shares, reducing his ownership by 25.13%.

Foundations Investment Advisors LLC increased its stake in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) by 143.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,632 shares of the financial services provider's stock after buying an additional 8,624 shares during the period. Foundations Investment Advisors LLC's holdings in Atlanta Braves were worth $585,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CWM LLC increased 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 valued at $33,000 after purchasing an additional 297 shares during the last quarter. Federated Hermes Inc. bought a new position in shares of Atlanta Braves during the fourth quarter worth about $40,000. Versant Capital Management Inc grew its position in shares of 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 acquiring an additional 1,400 shares during the last quarter. KBC Group NV bought a new position in shares of Atlanta Braves during the first quarter worth about $94,000. Finally, Tower Research Capital LLC TRC grew its position in shares of Atlanta Braves by 687.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,463 shares of the financial services provider's stock worth $132,000 after acquiring an additional 3,023 shares during the last quarter. Institutional investors own 64.88% of the company's stock.

Atlanta Braves Stock Performance

BATRK traded down $0.02 during midday trading on Friday, reaching $44.54. 384,719 shares of the company were exchanged, compared to its average volume of 240,767. Atlanta Braves Holdings, Inc. has a one year low of $35.46 and a one year high of $47.18. The stock has a market capitalization of $2.28 billion, a P/E ratio of -127.25 and a beta of 0.67. The stock's 50-day simple moving average is $44.45 and its 200 day simple moving average is $41.13.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last announced its earnings results on Monday, May 12th. The financial services provider reported ($0.66) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.94) by $0.28. The firm had revenue of $47.21 million during the quarter, compared to analyst estimates of $36.87 million. On average, research analysts anticipate that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Mario J. Gabelli acquired 1,549 shares of the firm's stock in a transaction on Wednesday, May 28th. The shares were purchased at an average cost of $43.45 per share, with a total value of $67,304.05. Following the acquisition, the insider directly owned 27,152 shares in the company, valued at $1,179,754.40. This represents a 6.05% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Michael P. Plant sold 69,000 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 217,372 shares of company stock valued at $9,451,951 over the last 90 days. 11.43% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

BATRK has been the subject of a number of research analyst 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 report on Friday, June 20th. Wall Street Zen raised shares of Atlanta Braves from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Citigroup raised shares of Atlanta Braves to a "hold" rating and set a $45.00 price target for the company in a report on Friday, June 13th.

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.