PDT Partners LLC Buys 10,971 Shares of Atlanta Braves Holdings, Inc. $BATRA

Key Points

• PDT Partners LLC significantly increased its holdings in Atlanta Braves Holdings, acquiring an additional 10,971 shares in the first quarter, resulting in a total of 16,949 shares valued at $744,000.
• The Atlanta Braves reported an earnings per share (EPS) of $0.46, exceeding the consensus estimate of $0.34, with revenues reaching $312.44 million for the quarter.
• Insider selling saw EVP Derek Gordon Schiller and EVP Michael P. Plant each sell over 69,000 shares at an average price of $43.00, resulting in significant decreases in their ownership stakes.

PDT Partners LLC grew its position in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRA - Free Report) by 183.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,949 shares of the financial services provider's stock after acquiring an additional 10,971 shares during the quarter. PDT Partners LLC's holdings in Atlanta Braves were worth $744,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of BATRA. Hudson Value Partners LLC purchased a new position in Atlanta Braves during the 1st quarter worth $3,830,000. GAMMA Investing LLC boosted its holdings in Atlanta Braves by 5,387.2% during the 1st quarter. GAMMA Investing LLC now owns 52,951 shares of the financial services provider's stock worth $23,230,000 after acquiring an additional 51,986 shares during the last quarter. Nuveen LLC purchased a new position in Atlanta Braves during the 1st quarter worth $1,596,000. Congress Park Capital LLC bought a new stake in shares of Atlanta Braves during the 1st quarter worth $965,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Atlanta Braves during the 1st quarter worth $900,000. 12.31% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Derek Gordon Schiller sold 30,000 shares of the firm's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $45.50, for a total value of $1,365,000.00. Following the completion of the sale, the executive vice president owned 300,233 shares of the company's stock, valued at $13,660,601.50. This trade represents a 9.08% decrease in their ownership of the stock. The sale 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 the firm's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $43.00, for a total value 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 position. The disclosure for this sale can be found here. Insiders sold 211,605 shares of company stock valued at $9,214,527 in the last ninety days. 5.90% of the stock is currently owned by insiders.

Atlanta Braves Price Performance

NASDAQ BATRA traded down $0.70 on Tuesday, reaching $45.86. 7,002 shares of the company's stock traded hands, compared to its average volume of 52,625. Atlanta Braves Holdings, Inc. has a 12 month low of $38.67 and a 12 month high of $50.50. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a 50-day simple moving average of $47.90 and a 200 day simple moving average of $45.29. The stock has a market cap of $2.88 billion, a PE ratio of -131.01 and a beta of 0.68.

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

Analyst Ratings Changes

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

About Atlanta Braves

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.