Vanguard Group Inc. Trims Position in Atlanta Braves Holdings, Inc. $BATRK

Key Points

• Vanguard Group Inc. has reduced its holdings in Atlanta Braves Holdings by 0.5%, owning approximately 4.71% of the company, worth $96.63 million after selling 13,190 shares in the first quarter.
• Atlanta Braves reported a missed earnings per share estimate for the last quarter, with EPS of $0.46 compared to the consensus estimate of $0.64, while revenue exceeded expectations at $312.44 million.
• Several institutional investors have increased their stakes, with T. Rowe Price boosting its position by 256% during the fourth quarter, now owning 1,690,889 shares valued at $64.69 million.

Vanguard Group Inc. lessened its position in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) by 0.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,415,155 shares of the financial services provider's stock after selling 13,190 shares during the period. Vanguard Group Inc. owned about 4.71% of Atlanta Braves worth $96,630,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in BATRK. T. Rowe Price Investment Management Inc. raised its holdings in shares of Atlanta Braves by 256.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,690,889 shares of the financial services provider's stock valued at $64,694,000 after purchasing an additional 1,215,948 shares during the last quarter. Aristeia Capital L.L.C. raised its holdings in shares of Atlanta Braves by 34.5% during the fourth quarter. Aristeia Capital L.L.C. now owns 2,414,362 shares of the financial services provider's stock valued at $92,373,000 after purchasing an additional 618,887 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Atlanta Braves during the first quarter valued at approximately $12,077,000. Troluce Capital Advisors LLC purchased a new position in shares of Atlanta Braves during the fourth quarter valued at approximately $10,751,000. Finally, Tudor Investment Corp ET AL raised its holdings in shares of Atlanta Braves by 44.3% during the fourth quarter. Tudor Investment Corp ET AL now owns 456,000 shares of the financial services provider's stock valued at $17,447,000 after purchasing an additional 139,952 shares during the last quarter. 64.88% of the stock is owned by hedge funds and other institutional investors.

Atlanta Braves Stock Performance

Shares of BATRK stock traded up $0.09 during mid-day trading on Thursday, reaching $44.94. 251,443 shares of the company's stock traded hands, compared to its average volume of 249,831. Atlanta Braves Holdings, Inc. has a 12 month low of $35.46 and a 12 month high of $47.18. The firm has a 50 day moving average price of $45.46 and a two-hundred day moving average price of $41.85. The firm has a market capitalization of $2.82 billion, a PE ratio of -128.40 and a beta of 0.67.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analysts expect that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BATRK. Wall Street Zen raised shares of Atlanta Braves from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Rosenblatt Securities boosted their price objective on shares of Atlanta Braves from $52.00 to $69.00 and gave the company a "buy" rating in a report on Friday, June 20th. Finally, Citigroup raised shares of Atlanta Braves to a "hold" rating and set a $45.00 price objective for the company in a report on Friday, June 13th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Atlanta Braves presently has a consensus rating of "Moderate Buy" and an average target price of $57.00.

Insiders Place Their Bets

In other news, EVP Derek Gordon Schiller sold 30,000 shares of the business's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $45.50, for a total transaction of $1,365,000.00. Following the completion of the sale, the executive vice president owned 300,233 shares of the company's stock, valued at $13,660,601.50. The trade was a 9.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael P. Plant sold 69,000 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $43.00, for a total transaction of $2,967,000.00. Following the sale, the executive vice president directly owned 205,593 shares of the company's stock, valued at approximately $8,840,499. The trade was a 25.13% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 211,605 shares of company stock valued at $9,214,527. Insiders own 11.43% of the company's stock.

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.