Invesco Ltd. Purchases 9,645 Shares of Atlanta Braves Holdings, Inc. $BATRK

Key Points

• Invesco Ltd. has increased its holdings in Atlanta Braves Holdings, Inc. by 22.8%, owning 51,935 shares valued at approximately $2.08 million as of the latest quarter.
• Atlanta Braves reported an earnings per share (EPS) of $0.46 for the most recent quarter, falling short of the consensus estimate of $0.64, while achieving revenues of $312.44 million.
• Several analysts have upgraded their ratings for Atlanta Braves, with Rosenblatt Securities increasing its price target from $52.00 to $69.00, while the stock currently holds a consensus rating of "Moderate Buy".

Invesco Ltd. increased its holdings in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) by 22.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,935 shares of the financial services provider's stock after acquiring an additional 9,645 shares during the quarter. Invesco Ltd. owned about 0.10% of Atlanta Braves worth $2,078,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in BATRK. CWM LLC lifted its holdings in Atlanta Braves by 56.4% in 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. Versant Capital Management Inc lifted its stake in shares of Atlanta Braves by 335.7% in the 1st quarter. Versant Capital Management Inc now owns 1,817 shares of the financial services provider's stock valued at $73,000 after purchasing an additional 1,400 shares during the period. KBC Group NV purchased a new position in shares of Atlanta Braves in the 1st quarter valued at approximately $94,000. PNC Financial Services Group Inc. boosted its position in shares of Atlanta Braves by 33.4% during the first quarter. PNC Financial Services Group Inc. now owns 3,021 shares of the financial services provider's stock valued at $121,000 after purchasing an additional 756 shares in the last quarter. Finally, US Bancorp DE grew its stake 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 worth $126,000 after purchasing an additional 298 shares during the period. 64.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on BATRK. Wall Street Zen raised Atlanta Braves from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Citigroup raised shares of Atlanta Braves to a "hold" rating and set a $45.00 price objective on the stock in a research note on Friday, June 13th. Finally, Rosenblatt Securities raised their target price on shares of Atlanta Braves from $52.00 to $69.00 and gave the company a "buy" rating in a research note 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. Based on data from MarketBeat.com, Atlanta Braves presently has a consensus rating of "Moderate Buy" and a consensus target price of $57.00.

Atlanta Braves Trading Down 0.7%

BATRK stock traded down $0.31 during midday trading on Wednesday, hitting $43.35. The company's stock had a trading volume of 170,025 shares, compared to its average volume of 291,876. The firm's 50-day moving average is $45.35 and its 200-day moving average is $41.97. Atlanta Braves Holdings, Inc. has a 12 month low of $35.46 and a 12 month high of $47.18. The company has a market cap of $2.72 billion, a PE ratio of -123.86 and a beta of 0.67.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.46 earnings per share 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. Analysts expect that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current year.

Insider Activity

In other news, EVP Michael P. Plant sold 69,000 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $43.00, for a total transaction of $2,967,000.00. Following the sale, the executive vice president 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 legal filing with the SEC, which is available through this link. Also, EVP Derek Gordon Schiller sold 72,505 shares of Atlanta Braves stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $43.00, for a total transaction of $3,117,715.00. Following the completion of the sale, the executive vice president owned 300,233 shares of the company's stock, valued at $12,910,019. This represents a 19.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 211,605 shares of company stock worth $9,214,527 in the last 90 days.

Atlanta Braves 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.