Dimensional Fund Advisors LP Purchases 87,538 Shares of Atlanta Braves Holdings, Inc. $BATRK

Key Points

• Dimensional Fund Advisors increased its Atlanta Braves Holdings stake by 10.3%, purchasing 87,538 shares to bring its total to 935,115 shares, or 1.78% of the company valued at approximately $39.9 million.
• Other institutional investors also raised their positions, including Vanguard, Hawk Ridge Capital Management, Qube Research & Technologies, and Broad Bay Capital Management. Institutional investors collectively own 64.88% of BATRK.
• BATRK recently traded at $50.99 and reported quarterly revenue of $72.01 million, exceeding expectations, while its loss of $0.63 per share was narrower than forecast. Analysts have a consensus “Hold” rating and a $64.50 price target.

Dimensional Fund Advisors LP lifted its position in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) by 10.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 935,115 shares of the financial services provider's stock after purchasing an additional 87,538 shares during the quarter. Dimensional Fund Advisors LP owned 1.78% of Atlanta Braves worth $39,927,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Troluce Capital Advisors LLC purchased a new stake in shares of Atlanta Braves in the 4th quarter valued at $21,043,000. Hawk Ridge Capital Management LP raised its position in Atlanta Braves by 16.5% in the 4th quarter. Hawk Ridge Capital Management LP now owns 2,661,429 shares of the financial services provider's stock worth $104,993,000 after purchasing an additional 377,307 shares during the period. Qube Research & Technologies Ltd raised its position in Atlanta Braves by 504.1% in the 3rd quarter. Qube Research & Technologies Ltd now owns 436,158 shares of the financial services provider's stock worth $18,140,000 after purchasing an additional 363,953 shares during the period. Vanguard Group Inc. lifted its stake in Atlanta Braves by 12.8% in the fourth quarter. Vanguard Group Inc. now owns 2,789,084 shares of the financial services provider's stock worth $110,029,000 after purchasing an additional 317,065 shares during the last quarter. Finally, Broad Bay Capital Management LP lifted its stake in Atlanta Braves by 11.9% in the fourth quarter. Broad Bay Capital Management LP now owns 2,202,745 shares of the financial services provider's stock worth $86,898,000 after purchasing an additional 233,771 shares during the last quarter. 64.88% of the stock is currently owned by institutional investors.

Atlanta Braves Stock Performance

Shares of NASDAQ:BATRK opened at $50.99 on Tuesday. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of -141.64 and a beta of 0.68. The business has a 50-day simple moving average of $50.92 and a two-hundred day simple moving average of $46.62. Atlanta Braves Holdings, Inc. has a fifty-two week low of $37.76 and a fifty-two week high of $53.25.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The financial services provider reported ($0.63) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.83) by $0.20. The company had revenue of $72.01 million for the quarter, compared to analysts' expectations of $64.60 million. As a group, research analysts predict that Atlanta Braves Holdings, Inc. will post -0.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BATRK shares. Weiss Ratings restated a "sell (d-)" rating on shares of Atlanta Braves in a research report on Wednesday, June 24th. Zacks Research lowered Atlanta Braves from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. Wall Street Zen raised Atlanta Braves from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Finally, Morgan Stanley lowered shares of Atlanta Braves from an "overweight" rating to an "equal weight" rating and set a $54.00 price objective on the stock. in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Atlanta Braves currently has an average rating of "Hold" and a consensus price target of $64.50.

Atlanta Braves Company Profile

The Atlanta Braves Real Estate Ownership Trust NASDAQ: BATRK is a publicly traded real estate investment trust established in 2021 by Liberty Braves Group. The trust's primary purpose is to own and manage a portfolio of sports and entertainment properties related to the Atlanta Braves baseball franchise. BATRK generates stable rental income by leasing its assets to the Braves Baseball Club, LLC, under long-term lease agreements designed to align property performance with franchise needs.

The trust's portfolio is anchored by Truist Park, the 41,084-seat baseball stadium that has served as the Braves' home since 2017.

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