Nuveen LLC Takes Position in Atlanta Braves Holdings, Inc. $BATRA

Key Points

• Nuveen LLC acquired 36,384 shares of Atlanta Braves Holdings, valued at approximately $1.6 million, increasing its ownership to about 0.06% of the company.
• Citigroup initiated coverage on Atlanta Braves, assigning a "neutral" rating with a price target of $45.00, while analysts have a consensus rating of "Moderate Buy" with a target of $52.50.
• In the last ninety days, insiders have sold a total of 211,605 shares of the company, valued at around $9.2 million, indicating significant insider trading activity.

Nuveen LLC purchased a new position in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRA - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 36,384 shares of the financial services provider's stock, valued at approximately $1,596,000. Nuveen LLC owned about 0.06% of Atlanta Braves at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. GAMMA Investing LLC raised its position in shares of Atlanta Braves by 25.1% during the 1st quarter. GAMMA Investing LLC now owns 1,207 shares of the financial services provider's stock valued at $53,000 after acquiring an additional 242 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Atlanta Braves during the fourth quarter worth $59,000. PNC Financial Services Group Inc. increased its holdings in Atlanta Braves by 52.7% in the first quarter. PNC Financial Services Group Inc. now owns 2,283 shares of the financial services provider's stock valued at $100,000 after purchasing an additional 788 shares during the last quarter. Ionic Capital Management LLC acquired a new position in Atlanta Braves in the fourth quarter valued at about $197,000. Finally, Squarepoint Ops LLC bought a new position in Atlanta Braves during the fourth quarter worth about $210,000. 12.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Citigroup initiated coverage on Atlanta Braves in a research note on Friday, June 13th. They issued a "neutral" rating and a $45.00 price target for the company. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $52.50.

Insider Transactions at Atlanta Braves

In other Atlanta Braves news, EVP Derek Gordon Schiller sold 72,505 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $43.00, for a total transaction of $3,117,715.00. Following the completion of the transaction, the executive vice president owned 300,233 shares of the company's stock, valued at $12,910,019. This represents a 19.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael P. Plant sold 69,000 shares of Atlanta Braves 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 owned 205,593 shares in the company, valued at $8,840,499. This trade represents a 25.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 211,605 shares of company stock valued at $9,214,527. 5.90% of the stock is owned by corporate insiders.

Atlanta Braves Stock Down 0.8%

Shares of NASDAQ:BATRA traded down $0.37 during midday trading on Wednesday, reaching $46.16. 54,304 shares of the company were exchanged, compared to its average volume of 53,051. The firm has a market cap of $2.90 billion, a PE ratio of -131.89 and a beta of 0.68. Atlanta Braves Holdings, Inc. has a fifty-two week low of $38.67 and a fifty-two week high of $50.50. The stock has a fifty day simple moving average of $48.15 and a two-hundred day simple moving average of $45.22. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.31.

Atlanta Braves (NASDAQ:BATRA - Get Free Report) last released its earnings results on Thursday, August 7th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.12. Atlanta Braves had a negative return on equity of 3.98% and a negative net margin of 2.99%.The firm had revenue of $312.44 million during the quarter, compared to analysts' expectations of $295.86 million. As a group, sell-side analysts forecast that Atlanta Braves Holdings, Inc. will post -0.98 earnings per share for the current 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.