301,842 Shares in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) Acquired by SG Americas Securities LLC

SG Americas Securities LLC acquired a new stake in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 301,842 shares of the financial services provider's stock, valued at approximately $12,077,000. SG Americas Securities LLC owned approximately 0.59% of Atlanta Braves as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Atlanta Braves by 5.5% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,501 shares of the financial services provider's stock valued at $440,000 after purchasing an additional 604 shares in the last quarter. ABC Arbitrage SA bought a new position in Atlanta Braves in the 4th quarter valued at $204,000. Rhumbline Advisers boosted its holdings in shares of Atlanta Braves by 16.8% in the fourth quarter. Rhumbline Advisers now owns 80,240 shares of the financial services provider's stock valued at $3,070,000 after purchasing an additional 11,554 shares during the period. State of New Jersey Common Pension Fund D increased its holdings in Atlanta Braves by 12.7% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 52,050 shares of the financial services provider's stock valued at $1,991,000 after buying an additional 5,877 shares during the period. Finally, Truist Financial Corp lifted its stake in shares of Atlanta Braves by 5.2% during the 4th quarter. Truist Financial Corp now owns 10,892 shares of the financial services provider's stock worth $417,000 after purchasing an additional 535 shares during the last quarter. Hedge funds and other institutional investors own 64.88% of the company's stock.

Insiders Place Their Bets

In other news, major shareholder John C. Malone acquired 38,452 shares of the company's stock in a transaction dated Tuesday, April 8th. The stock was acquired at an average cost of $40.28 per share, with a total value of $1,548,846.56. Following the completion of the purchase, the insider now owns 254,428 shares of the company's stock, valued at $10,248,359.84. This represents a 17.80% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Mario J. Gabelli purchased 1,549 shares of Atlanta Braves stock in a transaction dated Wednesday, May 28th. The shares were acquired at an average cost of $43.45 per share, for a total transaction of $67,304.05. Following the transaction, the insider now directly owns 27,152 shares of the company's stock, valued at approximately $1,179,754.40. This represents a 6.05% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 121,872 shares of company stock valued at $5,043,730 in the last three months. 11.43% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Atlanta Braves from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd.

Atlanta Braves Trading Down 1.2%

Atlanta Braves stock traded down $0.54 during mid-day trading on Thursday, hitting $43.16. The company had a trading volume of 237,055 shares, compared to its average volume of 285,235. Atlanta Braves Holdings, Inc. has a 12-month low of $35.46 and a 12-month high of $44.43. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of -59.12 and a beta of 0.54. The company's fifty day moving average is $39.82 and its 200-day moving average is $39.35.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The financial services provider reported ($0.66) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.94) by $0.28. The firm had revenue of $47.21 million during the quarter, compared to analyst estimates of $36.87 million. As a group, sell-side analysts expect that Atlanta Braves Holdings, Inc. will post -0.89 EPS for the current fiscal year.

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.