Southpoint Capital Advisors LP Has $38.43 Million Stock Holdings in Atlanta Braves Holdings, Inc. $BATRK

Key Points

• Southpoint Capital Advisors increased its Atlanta Braves Holdings position by 28.6% in the first quarter, adding 200,000 shares to own 900,000 shares valued at approximately $38.43 million, or 1.7% of the company.
• Institutional investors and hedge funds own 64.88% of BATRK. Shares opened at $50.74, compared with a 52-week range of $37.76 to $53.25.
• Atlanta Braves reported quarterly EPS of negative $0.63, beating estimates by $0.20, while revenue of $72.01 million exceeded expectations. Analysts maintain an average Hold rating with a consensus price target of $64.50.

Southpoint Capital Advisors LP grew its position in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) by 28.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 900,000 shares of the financial services provider's stock after purchasing an additional 200,000 shares during the quarter. Southpoint Capital Advisors LP owned approximately 1.70% of Atlanta Braves worth $38,430,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of BATRK. Global Trust Asset Management LLC bought a new position in Atlanta Braves in the 1st quarter worth $26,000. EverSource Wealth Advisors LLC lifted its position in Atlanta Braves by 956.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 697 shares of the financial services provider's stock worth $33,000 after acquiring an additional 631 shares during the last quarter. Advisory Services Network LLC bought a new stake in Atlanta Braves during the third quarter valued at about $34,000. Fifth Third Bancorp bought a new stake in Atlanta Braves during the first quarter valued at about $35,000. Finally, Comerica Bank boosted its holdings in Atlanta Braves by 44.8% during the first quarter. Comerica Bank now owns 1,031 shares of the financial services provider's stock valued at $41,000 after acquiring an additional 319 shares during the period. 64.88% of the stock is currently owned by institutional investors and hedge funds.

Atlanta Braves Price Performance

Shares of Atlanta Braves stock opened at $50.74 on Tuesday. The company has a market cap of $2.68 billion, a PE ratio of -140.94 and a beta of 0.68. The firm has a fifty day moving average price of $50.82 and a two-hundred day moving average price of $46.24. Atlanta Braves Holdings, Inc. has a fifty-two week low of $37.76 and a fifty-two week high of $53.25.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last posted its quarterly earnings data on Monday, May 11th. The financial services provider reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.83) by $0.20. The company had revenue of $72.01 million for the quarter, compared to the consensus estimate of $64.60 million. Analysts expect that Atlanta Braves Holdings, Inc. will post -0.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Wall Street Zen upgraded Atlanta Braves from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Zacks Research downgraded Atlanta Braves from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Atlanta Braves in a report on Wednesday, June 24th. Morgan Stanley lowered Atlanta Braves from an "overweight" rating to an "equal weight" rating and set a $54.00 target price on the stock. in a report on Wednesday, July 15th. Finally, Rosenblatt Securities lifted their price target on Atlanta Braves from $69.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, April 2nd. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $64.50.

Atlanta Braves Company Profile

The Atlanta Braves Real Estate Ownership Trust NASDAQ: BATRK is a publicly traded real estate investment trust established in 2021 by Liberty Braves Group. The trust's primary purpose is to own and manage a portfolio of sports and entertainment properties related to the Atlanta Braves baseball franchise. BATRK generates stable rental income by leasing its assets to the Braves Baseball Club, LLC, under long-term lease agreements designed to align property performance with franchise needs.

The trust's portfolio is anchored by Truist Park, the 41,084-seat baseball stadium that has served as the Braves' home since 2017.

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