Harbor Capital Advisors Inc. Sells 87,983 Shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK)

Harbor Capital Advisors Inc. reduced its stake in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) by 27.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 231,315 shares of the financial services provider's stock after selling 87,983 shares during the quarter. Harbor Capital Advisors Inc. owned about 0.45% of Atlanta Braves worth $9,255,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barclays PLC grew its position in Atlanta Braves by 160.3% in the third quarter. Barclays PLC now owns 82,330 shares of the financial services provider's stock worth $3,276,000 after acquiring an additional 50,702 shares in the last quarter. Magnetar Financial LLC lifted its stake in Atlanta Braves by 161.9% during the fourth quarter. Magnetar Financial LLC now owns 13,328 shares of the financial services provider's stock worth $510,000 after purchasing an additional 8,239 shares during the period. Rhumbline Advisers grew its holdings in shares of Atlanta Braves by 16.8% in the 4th quarter. Rhumbline Advisers now owns 80,240 shares of the financial services provider's stock worth $3,070,000 after purchasing an additional 11,554 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Atlanta Braves during the fourth quarter worth approximately $721,000. Finally, KLP Kapitalforvaltning AS bought a new position in Atlanta Braves in the 4th quarter valued at $337,000. 64.88% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Atlanta Braves

In other news, major shareholder John C. Malone bought 38,452 shares of Atlanta Braves stock in a transaction on Tuesday, April 8th. The shares were purchased at an average price of $40.28 per share, for a total transaction of $1,548,846.56. Following the acquisition, the insider now owns 254,428 shares of the company's stock, valued at approximately $10,248,359.84. The trade was a 17.80% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Mario J. Gabelli acquired 1,549 shares of Atlanta Braves stock in a transaction on Wednesday, May 28th. The shares were purchased at an average price 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 $1,179,754.40. This represents a 6.05% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 121,872 shares of company stock valued at $5,043,730 and have sold 147,272 shares valued at $6,322,139. 11.43% of the stock is currently owned by insiders.

Atlanta Braves Stock Performance

Shares of BATRK traded down $0.65 during mid-day trading on Friday, reaching $42.51. 244,550 shares of the company were exchanged, compared to its average volume of 285,469. The business has a 50 day simple moving average of $39.96 and a two-hundred day simple moving average of $39.37. Atlanta Braves Holdings, Inc. has a 52 week low of $35.46 and a 52 week high of $44.43. The stock has a market capitalization of $2.18 billion, a PE ratio of -58.23 and a beta of 0.54.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last issued 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, analysts predict that Atlanta Braves Holdings, Inc. will post -0.89 EPS for the current year.

Analysts Set New Price Targets

Several analysts have commented on BATRK shares. Citigroup began coverage on shares of Atlanta Braves in a research report on Friday. They set a "neutral" rating and a $45.00 target price for the company. Wall Street Zen raised shares of Atlanta Braves from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd.

Atlanta Braves Company 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.