Pentwater Capital Management LP Has $7 Million 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 grew its holdings in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) by 87.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 175,000 shares of the financial services provider's stock after purchasing an additional 81,715 shares during the quarter. Pentwater Capital Management LP owned about 0.34% of Atlanta Braves worth $7,002,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its position in shares of Atlanta Braves by 105.9% during the first quarter. Wellington Management Group LLP now owns 1,348,113 shares of the financial services provider's stock worth $53,938,000 after purchasing an additional 693,351 shares in the last quarter. Irenic Capital Management LP acquired a new position in Atlanta Braves during the 1st quarter worth $15,794,000. Broad Bay Capital Management LP boosted its position in Atlanta Braves by 24.3% in the 1st quarter. Broad Bay Capital Management LP now owns 1,732,882 shares of the financial services provider's stock valued at $69,333,000 after buying an additional 338,655 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Atlanta Braves in the 1st quarter valued at $12,077,000. Finally, Troluce Capital Advisors LLC bought a new stake in shares of Atlanta Braves during the fourth quarter worth $10,751,000. Institutional investors own 64.88% of the company's stock.

Atlanta Braves Stock Performance

NASDAQ BATRK traded up $0.57 on Thursday, reaching $42.37. The company had a trading volume of 289,434 shares, compared to its average volume of 300,538. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of -121.06 and a beta of 0.67. Atlanta Braves Holdings, Inc. has a 1-year low of $35.46 and a 1-year high of $47.18. The company's fifty day moving average is $44.87 and its 200-day moving average is $42.05.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last announced its earnings results on Thursday, August 7th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.64 by ($0.18). The company had revenue of $312.44 million during the quarter, compared to analyst estimates of $296.36 million. On average, research analysts forecast that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have 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 raised Atlanta Braves from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Rosenblatt Securities boosted their target price on Atlanta Braves from $52.00 to $69.00 and gave the company a "buy" rating in a research note on Friday, June 20th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $57.00.

Insiders Place Their Bets

In other Atlanta Braves news, EVP Derek Gordon Schiller sold 40,000 shares of Atlanta Braves stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $44.00, for a total value of $1,760,000.00. Following the sale, the executive vice president directly owned 300,233 shares in the company, valued at approximately $13,210,252. The trade was a 11.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 70,100 shares of company stock valued at $3,129,812 over the last ninety days. 11.43% of the stock is currently owned by company insiders.

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.