Southpoint Capital Advisors LP Purchases 50,000 Shares of Atlanta Braves Holdings, Inc. $BATRK

Key Points

• Southpoint Capital Advisors LP increased its stake in Atlanta Braves Holdings, acquiring an additional 50,000 shares, raising its total ownership to 800,000 shares worth approximately $32 million.
• Insider EVP Michael P. Plant sold 69,000 shares at $43.00, resulting in a 25.13% decrease in his overall position, while another insider, Derek Gordon Schiller, also sold 30,000 shares.
• Analysts maintain a positive outlook for Atlanta Braves, with a current average rating of "Moderate Buy" and a target price of $57.00.

Southpoint Capital Advisors LP grew its position in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) by 6.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 800,000 shares of the financial services provider's stock after acquiring an additional 50,000 shares during the quarter. Southpoint Capital Advisors LP owned 1.56% of Atlanta Braves worth $32,008,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other news, EVP Michael P. Plant sold 69,000 shares of the company's stock in a transaction on Wednesday, June 11th. The stock was 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. This represents a 25.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Derek Gordon Schiller sold 30,000 shares of the stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $45.50, for a total transaction of $1,365,000.00. Following the sale, the executive vice president owned 300,233 shares in the company, valued at $13,660,601.50. The trade was a 9.08% 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 in the last three months.

Atlanta Braves Stock Up 0.1%

BATRK opened at $44.98 on Tuesday. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of -128.51 and a beta of 0.67. Atlanta Braves Holdings, Inc. has a 12-month low of $35.46 and a 12-month high of $47.18. The business has a 50 day moving average of $45.41 and a 200-day moving average of $41.95.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last released its quarterly earnings data 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 business had revenue of $312.44 million for 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 year.

Wall Street Analysts Forecast Growth

BATRK has been the topic of several recent analyst reports. Citigroup raised Atlanta Braves to a "hold" rating and set a $45.00 price target on the stock in a research report on Friday, June 13th. Rosenblatt Securities raised their target price on shares of Atlanta Braves from $52.00 to $69.00 and gave the company a "buy" rating in a research note on Friday, June 20th. Finally, Wall Street Zen raised shares of Atlanta Braves from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $57.00.

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.

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