Longboard Asset Management LP Buys New 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 shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 6,744 shares of the financial services provider's stock, valued at approximately $315,000. Atlanta Braves comprises approximately 0.8% of Longboard Asset Management LP's portfolio, making the stock its 7th largest holding.

Other large investors have also made changes to their positions in the company. CWM LLC boosted its stake in shares of Atlanta Braves by 56.4% during the first quarter. CWM LLC now owns 824 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 297 shares during the last quarter. Comerica Bank boosted its stake in shares of 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 acquiring an additional 319 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Atlanta Braves during the first quarter valued at $60,000. Versant Capital Management Inc boosted its stake 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 acquiring an additional 1,400 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in Atlanta Braves during the first quarter worth about $84,000. Institutional investors and hedge funds own 64.88% of the company's stock.

Analyst Ratings Changes

BATRK has been the topic of several recent analyst reports. Rosenblatt Securities increased their target price 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 upgraded Atlanta Braves to a "hold" rating and set a $45.00 target price on the stock in a research report on Friday, June 13th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $57.00.

Atlanta Braves Trading Down 1.2%

Shares of Atlanta Braves stock traded down $0.51 during trading hours on Friday, reaching $41.22. The stock had a trading volume of 929,616 shares, compared to its average volume of 298,293. The firm has a 50 day simple moving average of $44.22 and a two-hundred day simple moving average of $42.17. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of -117.77 and a beta of 0.67. Atlanta Braves Holdings, Inc. has a 1 year low of $35.46 and a 1 year high of $47.18.

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

Insider Activity at Atlanta Braves

In related news, major shareholder Gamco Investors, Inc. Et Al sold 1,100 shares of the firm's stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $45.19, for a total transaction of $49,709.00. Following the sale, the insider directly owned 1,800 shares in the company, valued at approximately $81,342. This trade represents a 37.93% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 11.43% of the stock is currently owned by company insiders.

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.