Atlanta Braves Holdings, Inc. $BATRK is Breach Inlet Capital Management LLC's 2nd Largest Position

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 grew its stake in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) by 7.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 555,888 shares of the financial services provider's stock after acquiring an additional 36,510 shares during the quarter. Atlanta Braves comprises about 12.7% of Breach Inlet Capital Management LLC's investment portfolio, making the stock its 2nd biggest holding. Breach Inlet Capital Management LLC owned 1.08% of Atlanta Braves worth $22,241,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. CWM LLC boosted its holdings in shares of Atlanta Braves by 56.4% during the 1st quarter. CWM LLC now owns 824 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 297 shares during the last quarter. Comerica Bank boosted its holdings in shares of Atlanta Braves by 44.8% in the first quarter. Comerica Bank now owns 1,031 shares of the financial services provider's stock worth $41,000 after buying an additional 319 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of Atlanta Braves in the first quarter worth approximately $60,000. Versant Capital Management Inc boosted its holdings in shares of Atlanta Braves by 335.7% in the first quarter. Versant Capital Management Inc now owns 1,817 shares of the financial services provider's stock worth $73,000 after buying an additional 1,400 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Atlanta Braves in the first quarter worth approximately $84,000. Hedge funds and other institutional investors own 64.88% of the company's stock.

Atlanta Braves Trading Down 0.5%

BATRK traded down $0.21 during trading hours on Monday, hitting $42.15. The company's stock had a trading volume of 334,768 shares, compared to its average volume of 295,905. Atlanta Braves Holdings, Inc. has a 12 month low of $35.46 and a 12 month high of $47.18. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of -120.43 and a beta of 0.67. The business's 50-day moving average price is $45.13 and its 200-day moving average price is $42.04.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last posted 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 business had revenue of $312.44 million for the quarter, compared to analyst estimates of $296.36 million. On average, analysts forecast that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current year.

Analyst Ratings Changes

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

Insider Transactions at Atlanta Braves

In other news, EVP Derek Gordon Schiller sold 72,505 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $43.00, for a total value of $3,117,715.00. Following the transaction, the executive vice president directly owned 300,233 shares in the company, valued at approximately $12,910,019. This represents a 19.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Michael P. Plant sold 69,000 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 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 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. Over the last 90 days, insiders sold 211,605 shares of company stock worth $9,214,527.

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.