Columbia Asset Management Buys New Position in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK)

Columbia Asset Management bought a new position in 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 bought 19,775 shares of the financial services provider's stock, valued at approximately $791,000.

Other hedge funds have also added to or reduced their stakes in the company. Federated Hermes Inc. purchased a new stake in shares of Atlanta Braves in the fourth quarter worth $40,000. Versant Capital Management Inc increased its position in shares of Atlanta Braves by 335.7% during the 1st quarter. Versant Capital Management Inc now owns 1,817 shares of the financial services provider's stock valued at $73,000 after purchasing an additional 1,400 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Atlanta Braves by 25.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,265 shares of the financial services provider's stock worth $87,000 after buying an additional 463 shares during the last quarter. US Bancorp DE boosted 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 worth $110,000 after buying an additional 430 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Atlanta Braves by 687.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,463 shares of the financial services provider's stock valued at $132,000 after acquiring an additional 3,023 shares during the last quarter. Hedge funds and other institutional investors own 64.88% of the company's stock.

Insiders Place Their Bets

In other news, major shareholder Mario J. Gabelli acquired 1,549 shares of the stock in a transaction dated Wednesday, May 28th. The stock was purchased at an average cost of $43.45 per share, with a total value of $67,304.05. Following the completion of the purchase, the insider now owns 27,152 shares in the company, valued at approximately $1,179,754.40. The trade was a 6.05% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder John C. Malone bought 2,760 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average price of $41.99 per share, with a total value of $115,892.40. Following the completion of the acquisition, the insider now owns 214,118 shares of the company's stock, valued at $8,990,814.82. This trade represents a 1.31% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 124,632 shares of company stock valued at $5,159,623 in the last ninety days. Company insiders own 11.43% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Atlanta Braves from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd.

Atlanta Braves Price Performance

Atlanta Braves stock traded up $0.61 during mid-day trading on Friday, hitting $40.87. The company's stock had a trading volume of 144,357 shares, compared to its average volume of 280,638. The business has a 50 day moving average price of $39.58 and a 200-day moving average price of $39.28. Atlanta Braves Holdings, Inc. has a 12 month low of $35.46 and a 12 month high of $44.43. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of -55.99 and a beta of 0.54.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last released its quarterly earnings data 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 company had revenue of $47.21 million during the quarter, compared to analysts' expectations of $36.87 million. On average, equities research analysts expect that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current fiscal year.

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.