Southpoint Capital Advisors LP Has $32.01 Million Stock Position in 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 lifted its holdings in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) by 6.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 800,000 shares of the financial services provider's stock after purchasing an additional 50,000 shares during the quarter. Southpoint Capital Advisors LP owned 1.56% of Atlanta Braves worth $32,008,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in BATRK. Stifel Financial Corp boosted its position in shares of Atlanta Braves by 4.9% during the 4th quarter. Stifel Financial Corp now owns 6,007 shares of the financial services provider's stock worth $230,000 after acquiring an additional 280 shares in the last quarter. CWM LLC boosted its position in shares of Atlanta Braves by 56.4% during the 1st quarter. CWM LLC now owns 824 shares of the financial services provider's stock worth $33,000 after acquiring an additional 297 shares in the last quarter. US Bancorp DE boosted its position in shares of Atlanta Braves by 10.4% during the 1st quarter. US Bancorp DE now owns 3,160 shares of the financial services provider's stock worth $126,000 after acquiring an additional 298 shares in the last quarter. Comerica Bank boosted its position 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 acquiring an additional 319 shares in the last quarter. Finally, Moran Wealth Management LLC boosted its position in shares of Atlanta Braves by 3.6% during the 1st quarter. Moran Wealth Management LLC now owns 13,396 shares of the financial services provider's stock worth $536,000 after acquiring an additional 461 shares in the last quarter. 64.88% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Derek Gordon Schiller sold 72,505 shares of Atlanta Braves stock in a transaction on Wednesday, June 11th. The shares were 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 owned 300,233 shares of the company's stock, valued at $12,910,019. This trade represents a 19.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael P. Plant sold 69,000 shares of Atlanta Braves 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 transaction, the executive vice president directly owned 205,593 shares of the company's stock, valued at $8,840,499. This represents a 25.13% decrease in their position. 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 Down 1.4%

Shares of BATRK stock traded down $0.60 during trading hours on Friday, hitting $42.36. 373,440 shares of the company's stock traded hands, compared to its average volume of 257,811. The stock's 50 day simple moving average is $45.13 and its 200 day simple moving average is $42.04. The stock has a market cap of $2.66 billion, a PE ratio of -121.03 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.

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

Analysts Set New Price Targets

Several analysts recently issued reports on BATRK shares. Rosenblatt Securities increased their price target on shares of Atlanta Braves from $52.00 to $69.00 and gave the stock a "buy" rating in a research report on Friday, June 20th. Wall Street Zen upgraded shares of Atlanta Braves from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, 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. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $57.00.

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.