Elgethun Capital Management Has $5.45 Million 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 increased its position in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) by 5.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 136,281 shares of the financial services provider's stock after acquiring an additional 6,715 shares during the period. Atlanta Braves comprises about 1.2% of Elgethun Capital Management's investment portfolio, making the stock its 20th biggest holding. Elgethun Capital Management owned 0.27% of Atlanta Braves worth $5,453,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Stifel Financial Corp boosted its holdings in shares of Atlanta Braves by 4.9% during the 4th quarter. Stifel Financial Corp now owns 6,007 shares of the financial services provider's stock worth $230,000 after purchasing an additional 280 shares during the last quarter. CWM LLC boosted its stake in shares of Atlanta Braves by 56.4% during the first quarter. CWM LLC now owns 824 shares of the financial services provider's stock worth $33,000 after buying an additional 297 shares during the period. US Bancorp DE lifted its position in Atlanta Braves by 10.4% in the first quarter. US Bancorp DE now owns 3,160 shares of the financial services provider's stock valued at $126,000 after purchasing an additional 298 shares during the period. LPL Financial LLC lifted its position in shares of Atlanta Braves by 4.1% during the 4th quarter. LPL Financial LLC now owns 7,580 shares of the financial services provider's stock valued at $290,000 after acquiring an additional 302 shares during the period. Finally, Moran Wealth Management LLC increased its stake in shares of Atlanta Braves by 3.6% during the 1st quarter. Moran Wealth Management LLC now owns 13,396 shares of the financial services provider's stock worth $536,000 after purchasing an additional 461 shares in the last quarter. 64.88% of the stock is currently owned by hedge funds and other institutional investors.

Atlanta Braves Trading Up 1.3%

BATRK traded up $0.57 on Monday, hitting $44.33. 65,652 shares of the company's stock traded hands, compared to its average volume of 297,285. Atlanta Braves Holdings, Inc. has a one year low of $35.46 and a one year high of $47.18. The company's 50 day simple moving average is $44.86 and its 200-day simple moving average is $41.39. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of -126.68 and a beta of 0.67.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last released its quarterly earnings results 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. As a group, equities analysts anticipate that Atlanta Braves Holdings, Inc. will post -0.89 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on BATRK. Wall Street Zen upgraded shares of Atlanta Braves from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Citigroup upgraded shares of Atlanta Braves to a "hold" rating and set a $45.00 target price on the stock in a research note on Friday, June 13th. Finally, Rosenblatt Securities lifted their price target on shares of Atlanta Braves from $52.00 to $69.00 and gave the company a "buy" rating in a report on Friday, June 20th.

Insider Transactions at Atlanta Braves

In other Atlanta Braves news, EVP Derek Gordon Schiller sold 72,505 shares of the business's stock in a transaction on 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 directly owned 300,233 shares in the company, valued at approximately $12,910,019. The trade was a 19.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Mario J. Gabelli purchased 1,549 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The shares were acquired at an average cost of $43.45 per share, with a total value of $67,304.05. Following the completion of the transaction, the insider owned 27,152 shares in the company, valued at $1,179,754.40. This trade represents a 6.05% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 217,372 shares of company stock valued at $9,451,951.

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.