Janus Henderson Group PLC Boosts Stock Holdings in Atlanta Braves Holdings, Inc. $BATRK

Key Points

• Janus Henderson increased its BATRK position by 13.2% in the first quarter, adding 97,443 shares to own 834,765 shares worth approximately $35.6 million. Institutional investors collectively own 64.88% of the stock.
• Analyst sentiment is mixed but centers on a “Hold” rating: the consensus price target is $64.50, while recent actions included Morgan Stanley downgrading the stock to equal weight and Weiss Ratings maintaining a sell rating.
• BATRK opened at $50.83, within its $37.76–$53.25 one-year range. Its latest quarterly results beat expectations, with a loss of $0.63 per share versus the $0.83 estimate and revenue of $72.01 million versus $64.60 million expected.

Janus Henderson Group PLC lifted its position in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) by 13.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 834,765 shares of the financial services provider's stock after purchasing an additional 97,443 shares during the period. Janus Henderson Group PLC owned about 1.58% of Atlanta Braves worth $35,645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Global Trust Asset Management LLC purchased a new position in shares of Atlanta Braves during the 1st quarter valued at approximately $26,000. EverSource Wealth Advisors LLC increased its holdings in Atlanta Braves by 956.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 697 shares of the financial services provider's stock worth $33,000 after acquiring an additional 631 shares in the last quarter. Advisory Services Network LLC acquired a new position in Atlanta Braves during the third quarter worth $34,000. Fifth Third Bancorp acquired a new position in Atlanta Braves during the first quarter worth $35,000. Finally, Comerica Bank lifted its holdings in Atlanta Braves by 44.8% during the first quarter. Comerica Bank now owns 1,031 shares of the financial services provider's stock valued at $41,000 after purchasing an additional 319 shares in the last quarter. 64.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on BATRK shares. Morgan Stanley lowered Atlanta Braves from an "overweight" rating to an "equal weight" rating and set a $54.00 price objective for the company. in a research note on Wednesday, July 15th. Zacks Research downgraded Atlanta Braves from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Atlanta Braves in a research note on Wednesday, June 24th. Finally, Wall Street Zen upgraded Atlanta Braves from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $64.50.

Atlanta Braves Price Performance

Shares of NASDAQ BATRK opened at $50.83 on Monday. The company has a market capitalization of $2.69 billion, a P/E ratio of -141.19 and a beta of 0.68. The company has a 50 day simple moving average of $50.89 and a 200-day simple moving average of $46.54. Atlanta Braves Holdings, Inc. has a 1 year low of $37.76 and a 1 year high of $53.25.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last released its quarterly earnings data on Monday, May 11th. The financial services provider reported ($0.63) EPS for the quarter, beating analysts' consensus estimates of ($0.83) by $0.20. The business had revenue of $72.01 million during the quarter, compared to analyst estimates of $64.60 million. As a group, research analysts expect that Atlanta Braves Holdings, Inc. will post -0.06 EPS for the current year.

Atlanta Braves Company Profile

The Atlanta Braves Real Estate Ownership Trust NASDAQ: BATRK is a publicly traded real estate investment trust established in 2021 by Liberty Braves Group. The trust's primary purpose is to own and manage a portfolio of sports and entertainment properties related to the Atlanta Braves baseball franchise. BATRK generates stable rental income by leasing its assets to the Braves Baseball Club, LLC, under long-term lease agreements designed to align property performance with franchise needs.

The trust's portfolio is anchored by Truist Park, the 41,084-seat baseball stadium that has served as the Braves' home since 2017.

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