Longboard Asset Management LP Takes Position in Atlanta Braves Holdings, Inc. $BATRK

Key Points

• Longboard Asset Management LP has acquired a new stake in Atlanta Braves Holdings, purchasing 6,744 shares valued at approximately $315,000 during the second quarter.
• Numerous institutional investors, including First Bank & Trust and Parallel Advisors LLC, have increased their holdings in Atlanta Braves, indicating growing interest in the stock.
• Wall Street analysts have adjusted their ratings on Atlanta Braves, with Citigroup and Wall Street Zen both raising their ratings, resulting in an average "Moderate Buy" with a target price of $57.00.

Longboard Asset Management LP acquired a new stake in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 6,744 shares of the financial services provider's stock, valued at approximately $315,000. Atlanta Braves accounts for 0.8% of Longboard Asset Management LP's investment portfolio, making the stock its 7th biggest holding.

A number of other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in Atlanta Braves by 105.9% during the 1st quarter. Wellington Management Group LLP now owns 1,348,113 shares of the financial services provider's stock worth $53,938,000 after purchasing an additional 693,351 shares in the last quarter. Irenic Capital Management LP bought a new position in Atlanta Braves during the first quarter valued at $15,794,000. Broad Bay Capital Management LP grew its holdings in Atlanta Braves by 24.3% during the first quarter. Broad Bay Capital Management LP now owns 1,732,882 shares of the financial services provider's stock valued at $69,333,000 after purchasing an additional 338,655 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Atlanta Braves during the first quarter worth $12,077,000. Finally, Nuveen LLC purchased a new stake in shares of Atlanta Braves during the first quarter worth $8,995,000. 64.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BATRK. Rosenblatt Securities increased their price objective on Atlanta Braves from $52.00 to $69.00 and gave the stock a "buy" rating in a research report on Friday, June 20th. Citigroup raised Atlanta Braves to a "hold" rating and set a $45.00 price objective on the stock in a research note on Friday, June 13th. One 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.00.

Insider Buying and Selling

In other Atlanta Braves news, major shareholder Gamco Investors, Inc. Et Al sold 1,100 shares of the business's stock in a transaction on Friday, September 19th. The shares were sold at an average price of $45.19, for a total value of $49,709.00. Following the sale, the insider owned 1,800 shares in the company, valued at $81,342. The trade was a 37.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Atlanta Braves Trading Up 0.3%

NASDAQ:BATRK traded up $0.14 during trading hours on Monday, reaching $41.36. The company had a trading volume of 253,345 shares, compared to its average volume of 332,137. Atlanta Braves Holdings, Inc. has a 52 week low of $35.46 and a 52 week high of $47.18. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of -118.17 and a beta of 0.67. The firm's 50 day moving average price is $44.11 and its 200-day moving average price is $42.19.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.64 by ($0.18). The firm had revenue of $312.44 million for the quarter, compared to analysts' expectations of $296.36 million. On average, analysts forecast that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current fiscal year.

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.