Nuveen LLC Invests $9 Million in Atlanta Braves Holdings, Inc. $BATRK

Key Points

• Nuveen LLC has made a new investment of approximately $9 million in Atlanta Braves Holdings, acquiring 224,808 shares, which represents a 0.44% stake in the company.
• Atlanta Braves Holdings reported earnings of $0.46 EPS for the last quarter, which was below the consensus estimate of $0.64, and had revenue of $312.44 million.
• Several institutional investors increased their stakes in Atlanta Braves, leading to 64.88% of the stock being held by institutional investors and hedge funds.

Nuveen LLC acquired a new position in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 224,808 shares of the financial services provider's stock, valued at approximately $8,995,000. Nuveen LLC owned approximately 0.44% of Atlanta Braves as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Invesco Ltd. increased its position in shares of Atlanta Braves by 22.8% in the 1st quarter. Invesco Ltd. now owns 51,935 shares of the financial services provider's stock valued at $2,078,000 after acquiring an additional 9,645 shares during the period. Wittenberg Investment Management Inc. grew its position in Atlanta Braves by 1.8% during the 1st quarter. Wittenberg Investment Management Inc. now owns 27,051 shares of the financial services provider's stock worth $1,082,000 after purchasing an additional 474 shares during the period. Elgethun Capital Management grew its position in shares of Atlanta Braves by 5.2% during the 1st quarter. Elgethun Capital Management now owns 136,281 shares of the financial services provider's stock valued at $5,453,000 after acquiring an additional 6,715 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Atlanta Braves by 33.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,021 shares of the financial services provider's stock valued at $121,000 after acquiring an additional 756 shares during the period. Finally, US Bancorp DE lifted its stake in Atlanta Braves by 10.4% in the 1st quarter. US Bancorp DE now owns 3,160 shares of the financial services provider's stock valued at $126,000 after buying an additional 298 shares in the last quarter. Hedge funds and other institutional investors own 64.88% of the company's stock.

Atlanta Braves Price Performance

Shares of NASDAQ:BATRK traded up $0.04 on Friday, reaching $44.98. The company's stock had a trading volume of 287,383 shares, compared to its average volume of 250,462. The stock's 50-day moving average is $45.44 and its two-hundred day moving average is $41.89. Atlanta Braves Holdings, Inc. has a 52-week low of $35.46 and a 52-week high of $47.18. The stock has a market capitalization of $2.82 billion, a P/E ratio of -128.51 and a beta of 0.67.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last announced its earnings results 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 for the quarter, compared to analyst estimates of $296.36 million. Equities analysts forecast that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BATRK has been the topic of a number of research reports. Rosenblatt Securities raised their price target on shares of Atlanta Braves from $52.00 to $69.00 and gave the company a "buy" rating in a research note on Friday, June 20th. Wall Street Zen raised shares of Atlanta Braves from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Citigroup raised shares of Atlanta Braves to a "hold" rating and set a $45.00 target price on the stock in a research note on Friday, June 13th. One 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 stock currently has an average rating of "Moderate Buy" and a consensus target price of $57.00.

Insider Activity at Atlanta Braves

In other news, EVP Michael P. Plant sold 69,000 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $43.00, for a total value of $2,967,000.00. Following the sale, the executive vice president directly owned 205,593 shares in the company, valued at $8,840,499. This represents a 25.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Derek Gordon Schiller sold 30,000 shares of the company's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $45.50, for a total transaction of $1,365,000.00. Following the transaction, the executive vice president directly owned 300,233 shares in the company, valued at $13,660,601.50. The trade was a 9.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold 211,605 shares of company stock worth $9,214,527 over the last quarter. Company insiders own 11.43% of the company's stock.

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.