Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) Shares Sold by Rhumbline Advisers

Rhumbline Advisers trimmed its stake in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) by 10.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,927 shares of the financial services provider's stock after selling 8,313 shares during the quarter. Rhumbline Advisers owned approximately 0.14% of Atlanta Braves worth $2,878,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in BATRK. Steward Partners Investment Advisory LLC increased its stake in Atlanta Braves by 3.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,875 shares of the financial services provider's stock valued at $301,000 after purchasing an additional 266 shares during the last quarter. Stifel Financial Corp increased its stake in Atlanta Braves by 4.9% in the fourth quarter. Stifel Financial Corp now owns 6,007 shares of the financial services provider's stock valued at $230,000 after purchasing an additional 280 shares during the last quarter. LPL Financial LLC increased its stake in Atlanta Braves by 4.1% in the fourth quarter. LPL Financial LLC now owns 7,580 shares of the financial services provider's stock valued at $290,000 after purchasing an additional 302 shares during the last quarter. US Bancorp DE increased its stake in Atlanta Braves by 17.7% in the fourth 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 last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Atlanta Braves by 25.7% in the fourth 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 last quarter. 64.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on BATRK. Wall Street Zen upgraded Atlanta Braves from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Citigroup began coverage on Atlanta Braves in a research note on Friday. They issued a "neutral" rating and a $45.00 target price for the company.

Insiders Place Their Bets

In other news, EVP Derek Gordon Schiller sold 72,505 shares of the company's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $43.00, for a total value of $3,117,715.00. Following the completion of the sale, the executive vice president now owns 300,233 shares of the company's stock, valued at $12,910,019. This represents a 19.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder John C. Malone bought 38,452 shares of the firm's stock in a transaction dated Tuesday, April 8th. The stock was bought at an average cost of $40.28 per share, with a total value of $1,548,846.56. Following the transaction, the insider now directly owns 254,428 shares of the company's stock, valued at approximately $10,248,359.84. This trade represents a 17.80% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders bought 121,872 shares of company stock worth $5,043,730 and sold 147,272 shares worth $6,322,139. 11.43% of the stock is currently owned by insiders.

Atlanta Braves Price Performance

Shares of NASDAQ:BATRK opened at $42.51 on Monday. The firm has a market capitalization of $2.18 billion, a PE ratio of -58.23 and a beta of 0.54. The business has a 50-day moving average of $40.08 and a two-hundred day moving average of $39.37. Atlanta Braves Holdings, Inc. has a 12 month low of $35.46 and a 12 month high of $44.43.

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

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.

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