Atlanta Braves Holdings, Inc. $BATRK is Hawk Ridge Capital Management LP's 6th Largest Position

Key Points

• Hawk Ridge Capital Management LP reduced its stake in Atlanta Braves Holdings by 7.8%, holding approximately 2.4 million shares valued at $96.39 million, which comprises 4.6% of its total holdings.
• Several other institutional investors have also adjusted their positions in Atlanta Braves, with Russell Investments Group Ltd. increasing its stake by 76% amid a broader trend of hedge funds buying and selling shares.
• Analysts have raised their ratings for Atlanta Braves, with one brokerage increasing the price target from $52.00 to $69.00 and the stock currently holding a consensus rating of "Moderate Buy."

Hawk Ridge Capital Management LP trimmed its holdings in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) by 7.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,409,122 shares of the financial services provider's stock after selling 202,500 shares during the period. Atlanta Braves comprises about 4.6% of Hawk Ridge Capital Management LP's portfolio, making the stock its 6th largest position. Hawk Ridge Capital Management LP owned approximately 4.70% of Atlanta Braves worth $96,389,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWM LLC grew its holdings in Atlanta Braves by 56.4% during the 1st quarter. CWM LLC now owns 824 shares of the financial services provider's stock worth $33,000 after acquiring an additional 297 shares in the last quarter. Comerica Bank grew its holdings in Atlanta Braves by 44.8% during the 1st quarter. Comerica Bank now owns 1,031 shares of the financial services provider's stock worth $41,000 after acquiring an additional 319 shares in the last quarter. Summit Securities Group LLC bought a new position in Atlanta Braves during the 1st quarter worth about $60,000. Versant Capital Management Inc lifted its position in shares of Atlanta Braves by 335.7% during the first quarter. Versant Capital Management Inc now owns 1,817 shares of the financial services provider's stock valued at $73,000 after buying an additional 1,400 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Atlanta Braves in the 1st quarter valued at about $84,000. 64.88% of the stock is currently owned by institutional investors.

Insider Activity at Atlanta Braves

In related news, EVP Michael P. Plant sold 69,000 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $43.00, for a total value of $2,967,000.00. Following the completion of the transaction, the executive vice president directly owned 205,593 shares of the company's stock, valued at $8,840,499. This trade represents a 25.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Derek Gordon Schiller sold 72,505 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $43.00, for a total transaction of $3,117,715.00. Following the completion of the transaction, the executive vice president directly owned 300,233 shares of the company's stock, valued at $12,910,019. The trade was a 19.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 211,605 shares of company stock valued at $9,214,527 over the last ninety days.

Atlanta Braves Stock Performance

NASDAQ:BATRK traded up $0.01 during midday trading on Monday, reaching $42.37. 953,838 shares of the stock traded hands, compared to its average volume of 299,654. Atlanta Braves Holdings, Inc. has a 12-month low of $35.46 and a 12-month high of $47.18. The business has a 50-day moving average of $45.13 and a two-hundred day moving average of $42.04. The stock has a market capitalization of $2.66 billion, a PE ratio of -121.06 and a beta of 0.67.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $312.44 million for the quarter, compared to analysts' expectations of $296.36 million. Research analysts anticipate that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Citigroup upgraded shares of Atlanta Braves to a "hold" rating and set a $45.00 price objective for the company in a research note on Friday, June 13th. Wall Street Zen raised shares of Atlanta Braves from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Rosenblatt Securities increased their target price on shares of Atlanta Braves from $52.00 to $69.00 and gave the company a "buy" rating in a research report on Friday, June 20th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.00.

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.