Atlanta Braves Holdings, Inc. $BATRK Shares Sold by Deutsche Bank AG

Key Points

• Deutsche Bank AG reduced its stake in Atlanta Braves Holdings, Inc. by 30.6% during the first quarter, resulting in ownership of approximately 181,952 shares valued at $7.28 million.
• Insider sales increased, with EVP Derek Gordon Schiller and EVP Michael P. Plant selling a total of 99,000 shares for over $4.3 million, reflecting decreases in their stock positions of 9.08% and 25.13% respectively.
• Atlanta Braves reported earnings of $0.46 per share for the last quarter, falling short of expectations, while revenues came in at $312.44 million, surpassing forecasts.

Deutsche Bank AG lessened its stake in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) by 30.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 181,952 shares of the financial services provider's stock after selling 80,250 shares during the quarter. Deutsche Bank AG owned about 0.35% of Atlanta Braves worth $7,280,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Elgethun Capital Management boosted its holdings in shares of Atlanta Braves by 5.2% in the 1st quarter. Elgethun Capital Management now owns 136,281 shares of the financial services provider's stock valued at $5,453,000 after purchasing an additional 6,715 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Atlanta Braves by 33.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,021 shares of the financial services provider's stock valued at $121,000 after purchasing an additional 756 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Atlanta Braves by 10.4% during the 1st quarter. US Bancorp DE now owns 3,160 shares of the financial services provider's stock valued at $126,000 after acquiring an additional 298 shares in the last quarter. Foundations Investment Advisors LLC lifted its holdings in shares of Atlanta Braves by 143.5% during the 1st quarter. Foundations Investment Advisors LLC now owns 14,632 shares of the financial services provider's stock valued at $585,000 after acquiring an additional 8,624 shares in the last quarter. Finally, TD Asset Management Inc lifted its holdings in shares of Atlanta Braves by 10.0% during the 1st quarter. TD Asset Management Inc now owns 61,388 shares of the financial services provider's stock valued at $2,456,000 after acquiring an additional 5,582 shares in the last quarter. Institutional investors and hedge funds own 64.88% of the company's stock.

Atlanta Braves Price Performance

Shares of NASDAQ:BATRK traded down $0.55 during trading on Wednesday, reaching $43.33. 143,565 shares of the company's stock traded hands, compared to its average volume of 261,614. Atlanta Braves Holdings, Inc. has a 12 month low of $35.46 and a 12 month high of $47.18. The company has a 50 day moving average of $45.28 and a 200-day moving average of $41.66. The stock has a market capitalization of $2.72 billion, a P/E ratio of -123.80 and a beta of 0.67.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.46 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.18). The company had revenue of $312.44 million for the quarter, compared to analyst estimates of $296.36 million. Equities research analysts predict that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BATRK has been the topic of several recent research reports. Rosenblatt Securities lifted their target price 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 upgraded shares of Atlanta Braves from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Citigroup upgraded shares of Atlanta Braves to a "hold" rating and set a $45.00 target price on the stock in a report on Friday, June 13th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $57.00.

Insider Activity at Atlanta Braves

In other Atlanta Braves news, EVP Derek Gordon Schiller sold 30,000 shares of the business's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $45.50, for a total transaction of $1,365,000.00. Following the completion of the transaction, the executive vice president directly owned 300,233 shares of the company's stock, valued at $13,660,601.50. The trade was a 9.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael P. Plant sold 69,000 shares of the business's stock in a transaction dated 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 transaction, the executive vice president directly owned 205,593 shares of the company's stock, valued at $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 211,605 shares of company stock valued at $9,214,527 in the last quarter. Insiders own 11.43% of the company's stock.

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.