Cinctive Capital Management LP Purchases New Holdings in Atlanta Braves Holdings, Inc. $BATRK

Key Points

• Cinctive Capital Management LP has made a new investment of approximately $8.25 million in Atlanta Braves Holdings, purchasing 206,291 shares of the company.
• Several institutional investors recently adjusted their stakes in BATRK, with notable increases in holdings from Tower Research Capital and Price T Rowe Associates.
• Wall Street analysts have generally rated Atlanta Braves with a "Moderate Buy", with a consensus target price of $57.00.

Cinctive Capital Management LP purchased a new position in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 206,291 shares of the financial services provider's stock, valued at approximately $8,254,000. Cinctive Capital Management LP owned about 0.40% of Atlanta Braves as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. First Trust Advisors LP acquired a new position in Atlanta Braves in the fourth quarter valued at $1,177,000. Tower Research Capital LLC TRC lifted its stake in shares of Atlanta Braves by 687.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,463 shares of the financial services provider's stock valued at $132,000 after purchasing an additional 3,023 shares during the period. Stifel Financial Corp lifted its stake in shares of Atlanta Braves by 4.9% in the 4th 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 period. Price T Rowe Associates Inc. MD boosted its position in shares of Atlanta Braves by 20.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,707 shares of the financial services provider's stock valued at $754,000 after purchasing an additional 3,343 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Atlanta Braves by 2.0% during the fourth quarter. Ameriprise Financial Inc. now owns 178,739 shares of the financial services provider's stock worth $6,838,000 after purchasing an additional 3,438 shares during the period. 64.88% of the stock is owned by institutional investors.

Atlanta Braves Trading Down 0.4%

NASDAQ BATRK traded down $0.19 during trading hours on Tuesday, hitting $42.19. The company's stock had a trading volume of 185,220 shares, compared to its average volume of 298,762. The company has a market capitalization of $2.65 billion, a PE ratio of -120.30 and a beta of 0.67. Atlanta Braves Holdings, Inc. has a 52 week low of $35.46 and a 52 week high of $47.18. The company's 50-day simple moving average is $45.04 and its two-hundred day simple moving average is $42.05.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.18). The firm had revenue of $312.44 million during the quarter, compared to analysts' expectations of $296.36 million. Research analysts anticipate that Atlanta Braves Holdings, Inc. will post -0.89 EPS for the current fiscal year.

Insider Buying and Selling at Atlanta Braves

In other news, EVP Michael P. Plant sold 69,000 shares of Atlanta Braves stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $43.00, for a total value of $2,967,000.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the executive vice president owned 300,233 shares of the company's stock, valued at $12,910,019. The trade was a 19.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 211,605 shares of company stock valued at $9,214,527.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Rosenblatt Securities boosted their price target on Atlanta Braves from $52.00 to $69.00 and gave the company a "buy" rating in a research note on Friday, June 20th. Citigroup upgraded shares of Atlanta Braves to a "hold" rating and set a $45.00 target price on the stock in a research report on Friday, June 13th. Finally, Wall Street Zen raised shares of Atlanta Braves from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $57.00.

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.