Northern Trust Corp Sells 17,678 Shares of Atlanta Braves Holdings, Inc. $BATRK

Northern Trust Corp cut its position in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) by 3.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 462,828 shares of the financial services provider's stock after selling 17,678 shares during the period. Northern Trust Corp owned 0.90% of Atlanta Braves worth $18,518,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Summit Securities Group LLC acquired a new position in Atlanta Braves in the first quarter valued at about $60,000. Raymond James Financial Inc. boosted its position in Atlanta Braves by 112.2% in the first quarter. Raymond James Financial Inc. now owns 184,384 shares of the financial services provider's stock valued at $7,377,000 after buying an additional 97,506 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Atlanta Braves by 76.0% in the first quarter. Russell Investments Group Ltd. now owns 84,287 shares of the financial services provider's stock valued at $3,372,000 after buying an additional 36,386 shares in the last quarter. Nuveen LLC acquired a new position in Atlanta Braves in the first quarter valued at about $8,995,000. Finally, Invesco Ltd. boosted its position in Atlanta Braves by 22.8% in the first quarter. Invesco Ltd. now owns 51,935 shares of the financial services provider's stock valued at $2,078,000 after buying an additional 9,645 shares in the last quarter. 64.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Michael P. Plant sold 69,000 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the executive vice president directly owned 205,593 shares of the company's stock, valued at $8,840,499. The trade was a 25.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Derek Gordon Schiller sold 30,000 shares of the business's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $45.50, for a total transaction of $1,365,000.00. Following the sale, the executive vice president directly owned 300,233 shares of the company's stock, valued at approximately $13,660,601.50. This trade represents a 9.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 211,605 shares of company stock valued at $9,214,527. 11.43% of the stock is currently owned by insiders.

Atlanta Braves Trading Down 1.4%

Shares of BATRK traded down $0.60 on Friday, reaching $42.36. 373,440 shares of the company's stock were exchanged, compared to its average volume of 254,278. The stock has a market capitalization of $2.66 billion, a P/E ratio of -121.03 and a beta of 0.67. The business has a 50 day moving average price of $45.13 and a two-hundred day moving average price of $42.02. Atlanta Braves Holdings, Inc. has a 12 month low of $35.46 and a 12 month high of $47.18.

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 analysts' consensus estimates of $0.64 by ($0.18). The company had revenue of $312.44 million for the quarter, compared to analyst estimates of $296.36 million. Equities research analysts predict that Atlanta Braves Holdings, Inc. will post -0.89 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BATRK. Citigroup upgraded shares of Atlanta Braves to a "hold" rating and set a $45.00 target price on the stock in a research report on Friday, June 13th. Wall Street Zen upgraded shares of Atlanta Braves from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Rosenblatt Securities upped their target price on shares of Atlanta Braves from $52.00 to $69.00 and gave the stock a "buy" rating in a research report on Friday, June 20th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $57.00.

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.