Millennium Management LLC Reduces Holdings in Atlanta Braves Holdings, Inc. (NASDAQ:BATRA)

Millennium Management LLC cut its holdings in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRA - Free Report) by 44.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,628 shares of the financial services provider's stock after selling 18,633 shares during the period. Millennium Management LLC's holdings in Atlanta Braves were worth $964,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ionic Capital Management LLC acquired a new position in Atlanta Braves during the 4th quarter valued at approximately $197,000. D. E. Shaw & Co. Inc. grew its holdings in shares of Atlanta Braves by 41.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 13,456 shares of the financial services provider's stock valued at $549,000 after buying an additional 3,945 shares during the last quarter. Bank of America Corp DE increased its position in shares of Atlanta Braves by 13.4% in the 4th quarter. Bank of America Corp DE now owns 20,004 shares of the financial services provider's stock valued at $816,000 after acquiring an additional 2,367 shares during the period. BNP Paribas Financial Markets acquired a new position in shares of Atlanta Braves in the fourth quarter valued at about $59,000. Finally, PDT Partners LLC purchased a new position in Atlanta Braves during the 4th quarter worth approximately $244,000. Hedge funds and other institutional investors own 12.31% of the company's stock.

Atlanta Braves Price Performance

Shares of Atlanta Braves stock traded up $0.51 on Friday, reaching $43.70. The company's stock had a trading volume of 38,351 shares, compared to its average volume of 44,583. Atlanta Braves Holdings, Inc. has a 52-week low of $38.67 and a 52-week high of $46.65. The company has a market capitalization of $2.70 billion, a P/E ratio of -59.86 and a beta of 0.61. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.12. The stock has a 50-day moving average price of $43.16 and a 200-day moving average price of $42.47.

Atlanta Braves (NASDAQ:BATRA - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The financial services provider reported ($0.66) earnings per share for the quarter, beating analysts' consensus estimates of ($0.94) by $0.28. Atlanta Braves had a negative net margin of 6.56% and a negative return on equity of 8.48%. The firm had revenue of $47.21 million for the quarter, compared to analyst estimates of $36.87 million. Analysts expect that Atlanta Braves Holdings, Inc. will post -0.98 EPS for the current year.

Insider Buying and Selling at Atlanta Braves

In related news, EVP Deretta C. Rhodes sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $41.20, for a total value of $206,000.00. Following the completion of the sale, the executive vice president now owns 3,112 shares of the company's stock, valued at approximately $128,214.40. This trade represents a 61.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder John C. Malone acquired 38,452 shares of the stock in a transaction on Tuesday, April 8th. The shares were bought at an average cost of $40.28 per share, for a total transaction of $1,548,846.56. Following the purchase, the insider now directly owns 254,428 shares of the company's stock, valued at $10,248,359.84. The trade was a 17.80% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 124,632 shares of company stock worth $5,159,623. Corporate insiders own 4.83% of the company's stock.

Analyst Ratings Changes

Separately, Benchmark reissued a "buy" rating and issued a $60.00 price target on shares of Atlanta Braves in a report on Thursday, February 27th.

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.