Atlanta Braves Holdings, Inc. $BATRK Stake Raised by Breach Inlet Capital Management LLC

Key Points

• Breach Inlet Capital Management LLC increased its stake in Atlanta Braves Holdings, now owning approximately $22.24 million worth of shares, which makes up 12.7% of its portfolio.
• Atlanta Braves Holdings reported a loss of $0.18 per share in its latest quarterly earnings, falling short of analysts' estimates, despite higher-than-expected revenue.
• Several institutional investors have recently made significant investments in Atlanta Braves, with Wellington Management Group increasing its shares by 105.9% in the first quarter.

Breach Inlet Capital Management LLC boosted its holdings in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) by 7.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 555,888 shares of the financial services provider's stock after buying an additional 36,510 shares during the quarter. Atlanta Braves makes up about 12.7% of Breach Inlet Capital Management LLC's investment portfolio, making the stock its 2nd largest holding. Breach Inlet Capital Management LLC owned approximately 1.08% of Atlanta Braves worth $22,241,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Gabelli Funds LLC boosted its position in shares of Atlanta Braves by 3.7% in the first quarter. Gabelli Funds LLC now owns 1,473,271 shares of the financial services provider's stock worth $58,946,000 after purchasing an additional 52,777 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Atlanta Braves by 76.0% in the first quarter. Russell Investments Group Ltd. now owns 84,287 shares of the financial services provider's stock worth $3,372,000 after purchasing an additional 36,386 shares during the period. Foundations Investment Advisors LLC boosted its position in shares of Atlanta Braves by 143.5% in the first quarter. Foundations Investment Advisors LLC now owns 14,632 shares of the financial services provider's stock worth $585,000 after purchasing an additional 8,624 shares during the period. Teacher Retirement System of Texas bought a new position in shares of Atlanta Braves in the first quarter worth approximately $253,000. Finally, Southpoint Capital Advisors LP boosted its position in shares of Atlanta Braves by 6.7% in the first quarter. Southpoint Capital Advisors LP now owns 800,000 shares of the financial services provider's stock worth $32,008,000 after purchasing an additional 50,000 shares during the period. 64.88% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Derek Gordon Schiller sold 30,000 shares of the company's stock in a transaction on 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 sale, the executive vice president owned 300,233 shares of the company's stock, valued at $13,660,601.50. This represents a 9.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 transaction of $2,967,000.00. Following the sale, the executive vice president directly owned 205,593 shares in the company, valued at approximately $8,840,499. The trade was a 25.13% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 211,605 shares of company stock worth $9,214,527. 11.43% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BATRK shares. Rosenblatt Securities upped their price target on shares of Atlanta Braves from $52.00 to $69.00 and gave the stock a "buy" rating in a research report on Friday, June 20th. Wall Street Zen upgraded shares of Atlanta Braves from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Citigroup upgraded shares of Atlanta Braves to a "hold" rating and set a $45.00 price target for the company in a research report on Friday, June 13th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, Atlanta Braves currently has an average rating of "Moderate Buy" and a consensus price target of $57.00.

Atlanta Braves Trading Down 1.4%

Shares of NASDAQ:BATRK traded down $0.60 during midday trading on Friday, reaching $42.36. 373,440 shares of the company were exchanged, compared to its average volume of 254,278. The business's fifty day moving average is $45.13 and its two-hundred day moving average is $42.02. 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 cap of $2.66 billion, a PE ratio of -121.03 and a beta of 0.67.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last issued its earnings results 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 analysts' expectations of $296.36 million. As a group, sell-side analysts expect that Atlanta Braves Holdings, Inc. will post -0.89 EPS 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.