Troluce Capital Advisors LLC Has $85.40 Million Stock Holdings in Atlanta Braves Holdings, Inc. $BATRK

Key Points

• Troluce Capital Advisors increased its Atlanta Braves Holdings (BATRK) position by 274.9% in the first quarter, purchasing 1.47 million additional shares. Its 2 million shares were worth $85.4 million and represented 5.2% of the fund’s portfolio.
• Institutional ownership remains substantial at 64.88%, with Vanguard, Hawk Ridge Capital, Broad Bay Capital, CI Investments, and Geode Capital among other major holders increasing their positions.
• Analyst sentiment is mixed, resulting in a consensus “Hold” rating and a $64.50 target price. BATRK opened at $50.28, while the company’s latest quarterly results beat expectations on both adjusted EPS and revenue.

Troluce Capital Advisors LLC boosted its position in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) by 274.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,000,000 shares of the financial services provider's stock after buying an additional 1,466,584 shares during the quarter. Atlanta Braves makes up about 5.2% of Troluce Capital Advisors LLC's holdings, making the stock its biggest position. Troluce Capital Advisors LLC owned about 3.78% of Atlanta Braves worth $85,400,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Atlanta Braves by 12.8% during the fourth quarter. Vanguard Group Inc. now owns 2,789,084 shares of the financial services provider's stock valued at $110,029,000 after acquiring an additional 317,065 shares during the period. Hawk Ridge Capital Management LP increased its stake in shares of Atlanta Braves by 16.5% in the fourth quarter. Hawk Ridge Capital Management LP now owns 2,661,429 shares of the financial services provider's stock worth $104,993,000 after purchasing an additional 377,307 shares during the period. Broad Bay Capital Management LP increased its stake in shares of Atlanta Braves by 11.9% in the fourth quarter. Broad Bay Capital Management LP now owns 2,202,745 shares of the financial services provider's stock worth $86,898,000 after purchasing an additional 233,771 shares during the period. CI Investments Inc. lifted its position in shares of Atlanta Braves by 1.0% during the 4th quarter. CI Investments Inc. now owns 1,699,739 shares of the financial services provider's stock worth $67,055,000 after purchasing an additional 16,404 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Atlanta Braves by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 1,086,388 shares of the financial services provider's stock worth $42,864,000 after purchasing an additional 2,944 shares during the last quarter. Institutional investors own 64.88% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Rosenblatt Securities raised their target price on Atlanta Braves from $69.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, April 2nd. Morgan Stanley lowered Atlanta Braves from an "overweight" rating to an "equal weight" rating and set a $54.00 price target for the company. in a report on Wednesday, July 15th. Zacks Research downgraded shares of 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 research report on Wednesday, June 24th. Finally, Wall Street Zen upgraded shares of Atlanta Braves from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Atlanta Braves has a consensus rating of "Hold" and a consensus target price of $64.50.

Atlanta Braves Price Performance

Shares of BATRK opened at $50.28 on Monday. Atlanta Braves Holdings, Inc. has a 12-month low of $37.76 and a 12-month high of $53.25. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of -139.67 and a beta of 0.68. The stock's 50-day moving average price is $50.83 and its 200 day moving average price is $46.16.

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

About Atlanta Braves

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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