Foundations Investment Advisors LLC Increases Stake in 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 boosted 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 13F filing with the Securities and Exchange Commission. The firm owned 14,632 shares of the financial services provider's stock after purchasing 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 quarter.

Other large investors also recently modified their holdings of the company. Aristeia Capital L.L.C. boosted its holdings in Atlanta Braves by 34.5% in the 4th quarter. Aristeia Capital L.L.C. now owns 2,414,362 shares of the financial services provider's stock worth $92,373,000 after buying an additional 618,887 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in Atlanta Braves by 256.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,690,889 shares of the financial services provider's stock worth $64,694,000 after purchasing an additional 1,215,948 shares in the last quarter. Gamco Investors INC. ET AL lifted its stake in Atlanta Braves by 1.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 1,457,676 shares of the financial services provider's stock worth $55,771,000 after purchasing an additional 21,659 shares in the last quarter. Gabelli Funds LLC lifted its stake in Atlanta Braves by 0.5% in the 4th quarter. Gabelli Funds LLC now owns 1,420,494 shares of the financial services provider's stock worth $54,348,000 after purchasing an additional 6,375 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Atlanta Braves by 5.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 817,798 shares of the financial services provider's stock worth $31,288,000 after purchasing an additional 40,827 shares in the last quarter. Institutional investors own 64.88% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BATRK. Wall Street Zen upgraded shares of Atlanta Braves from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Rosenblatt Securities upped their target price on shares of Atlanta Braves from $52.00 to $69.00 and gave the company a "buy" rating in a research report on Friday, June 20th. Finally, Citigroup raised shares of Atlanta Braves to a "hold" rating and set a $45.00 price objective on the stock in a research report on Friday, June 13th.

Atlanta Braves Stock Performance

NASDAQ:BATRK traded up $0.59 during midday trading on Monday, reaching $45.13. 62,694 shares of the stock traded hands, compared to its average volume of 297,854. Atlanta Braves Holdings, Inc. has a 12-month low of $35.46 and a 12-month high of $47.18. The business has a 50-day moving average of $44.45 and a two-hundred day moving average of $41.16. The stock has a market capitalization of $2.32 billion, a PE ratio of -128.90 and a beta of 0.67.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The financial services provider reported ($0.66) earnings per share 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 analysts' expectations of $36.87 million. Research analysts anticipate that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current year.

Insider Activity

In other Atlanta Braves news, EVP Michael P. Plant sold 69,000 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $43.00, for a total transaction of $2,967,000.00. Following the completion of the transaction, the executive vice president owned 205,593 shares in the company, valued at $8,840,499. The trade was a 25.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Mario J. Gabelli purchased 1,549 shares of the stock in a transaction on Wednesday, May 28th. The shares were purchased at an average price 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 ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 217,372 shares of company stock valued at $9,451,951. Company insiders own 11.43% of the company's stock.

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.