Pentwater Capital Management LP Has $7 Million Stock Holdings in Atlanta Braves Holdings, Inc. $BATRK

Key Points

• Pentwater Capital Management LP increased its holdings in Atlanta Braves Holdings, Inc. by 87.6%, owning approximately 175,000 shares worth around $7 million.
• Atlanta Braves reported $0.46 earnings per share for the latest quarter, falling short of the consensus estimate of $0.64, despite revenue exceeding expectations at $312.44 million.
• Insider selling activity has been notable, with executives selling over 211,605 shares valued at approximately $9.2 million in the last 90 days.

Pentwater Capital Management LP lifted its stake in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) by 87.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 175,000 shares of the financial services provider's stock after purchasing an additional 81,715 shares during the period. Pentwater Capital Management LP owned 0.34% of Atlanta Braves worth $7,002,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CWM LLC boosted its position in shares of Atlanta Braves by 56.4% in the 1st quarter. CWM LLC now owns 824 shares of the financial services provider's stock worth $33,000 after purchasing an additional 297 shares during the last quarter. Comerica Bank raised its stake in Atlanta Braves by 44.8% during the 1st quarter. Comerica Bank now owns 1,031 shares of the financial services provider's stock worth $41,000 after buying an additional 319 shares during the period. Summit Securities Group LLC bought a new stake in shares of Atlanta Braves in the first quarter worth about $60,000. Versant Capital Management Inc increased its holdings in shares of Atlanta Braves by 335.7% in the first quarter. Versant Capital Management Inc now owns 1,817 shares of the financial services provider's stock worth $73,000 after acquiring an additional 1,400 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Atlanta Braves in the first quarter worth about $84,000. 64.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BATRK. Rosenblatt Securities increased their price target on Atlanta Braves from $52.00 to $69.00 and gave the stock a "buy" rating in a report on Friday, June 20th. Citigroup upgraded Atlanta Braves to a "hold" rating and set a $45.00 price target for the company in a report on Friday, June 13th. Finally, Wall Street Zen upgraded Atlanta Braves from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Atlanta Braves has a consensus rating of "Moderate Buy" and a consensus price target of $57.00.

Atlanta Braves Trading Down 0.8%

Shares of Atlanta Braves stock traded down $0.36 during trading hours on Tuesday, reaching $42.01. 424,365 shares of the company's stock were exchanged, compared to its average volume of 294,606. The company has a 50 day moving average of $44.96 and a two-hundred day moving average of $42.05. Atlanta Braves Holdings, Inc. has a fifty-two week low of $35.46 and a fifty-two week high of $47.18. The stock has a market cap of $2.64 billion, a P/E ratio of -120.03 and a beta of 0.67.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.18). The company had revenue of $312.44 million during the quarter, compared to analysts' expectations of $296.36 million. As a group, analysts expect that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current fiscal year.

Insider Activity at Atlanta Braves

In related news, EVP Derek Gordon Schiller sold 72,505 shares of the 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 directly owned 300,233 shares of the company's stock, valued at approximately $12,910,019. This represents a 19.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael P. Plant sold 69,000 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $8,840,499. The trade was a 25.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 211,605 shares of company stock valued at $9,214,527 over the last three months.

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.