Elgethun Capital Management Has $5.45 Million Stock Position in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK)

Key Points

• Elgethun Capital Management has increased its stake in Atlanta Braves Holdings, Inc. by 5.2% to a total of $5.45 million, making it the fund's 20th largest holding.
• Insider trading activity included EVP Deretta C. Rhodes and EVP Derek Gordon Schiller selling a combined 35,000 shares of the company's stock, indicating a 61.64% and 9.08% decrease in their holdings, respectively.
• Analyst ratings have shifted, with Citigroup upgrading Atlanta Braves to a "hold" rating and Rosenblatt Securities increasing their target price from $52.00 to $69.00, reflecting positive sentiment on stock performance.

Elgethun Capital Management grew its holdings in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) by 5.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 136,281 shares of the financial services provider's stock after acquiring an additional 6,715 shares during the period. Atlanta Braves comprises 1.2% of Elgethun Capital Management's holdings, making the stock its 20th largest holding. Elgethun Capital Management owned about 0.27% of Atlanta Braves worth $5,453,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. LPL Financial LLC increased its holdings in Atlanta Braves by 4.1% in the fourth quarter. LPL Financial LLC now owns 7,580 shares of the financial services provider's stock valued at $290,000 after purchasing an additional 302 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Atlanta Braves by 49.5% in the fourth quarter. JPMorgan Chase & Co. now owns 250,042 shares of the financial services provider's stock valued at $9,567,000 after buying an additional 82,769 shares during the period. Wells Fargo & Company MN increased its stake in shares of Atlanta Braves by 82.3% in the fourth quarter. Wells Fargo & Company MN now owns 66,198 shares of the financial services provider's stock valued at $2,533,000 after buying an additional 29,894 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Atlanta Braves by 3.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 33,202 shares of the financial services provider's stock worth $1,270,000 after acquiring an additional 962 shares during the last quarter. Finally, Federated Hermes Inc. acquired a new position in shares of Atlanta Braves in the fourth quarter worth approximately $40,000. Institutional investors and hedge funds own 64.88% of the company's stock.

Insider Buying and Selling

In other Atlanta Braves news, EVP Deretta C. Rhodes sold 5,000 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $41.20, for a total value of $206,000.00. Following the completion of the sale, the executive vice president directly owned 3,112 shares of the company's stock, valued at approximately $128,214.40. This represents a 61.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Derek Gordon Schiller sold 30,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the executive vice president owned 300,233 shares in the company, valued at approximately $13,660,601.50. The trade was a 9.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 217,372 shares of company stock valued at $9,451,951. 11.43% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BATRK. Citigroup upgraded Atlanta Braves to a "hold" rating and set a $45.00 target price on the stock in a report on Friday, June 13th. Rosenblatt Securities increased their price objective 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. 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.

Atlanta Braves Stock Performance

Shares of BATRK stock opened at $44.89 on Thursday. Atlanta Braves Holdings, Inc. has a fifty-two week low of $35.46 and a fifty-two week high of $47.18. The stock has a 50 day simple moving average of $44.62 and a two-hundred day simple moving average of $41.23. The company has a market cap of $2.30 billion, a P/E ratio of -128.25 and a beta of 0.67.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last announced 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 for the quarter, compared to analyst estimates of $36.87 million. On average, research analysts predict that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share 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.

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