First Trust Advisors LP Purchases Shares of 30,755 Atlanta Braves Holdings, Inc. (NASDAQ:BATRK)

First Trust Advisors LP acquired a new position in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 30,755 shares of the financial services provider's stock, valued at approximately $1,177,000. First Trust Advisors LP owned about 0.06% of Atlanta Braves at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of BATRK. Steward Partners Investment Advisory LLC raised its stake in Atlanta Braves by 3.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,875 shares of the financial services provider's stock valued at $301,000 after purchasing an additional 266 shares during the last quarter. LPL Financial LLC boosted its position in Atlanta Braves by 4.1% during the 4th quarter. LPL Financial LLC now owns 7,580 shares of the financial services provider's stock worth $290,000 after purchasing an additional 302 shares during the period. US Bancorp DE raised its position in Atlanta Braves by 17.7% in the fourth quarter. US Bancorp DE now owns 2,862 shares of the financial services provider's stock valued at $110,000 after purchasing an additional 430 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Atlanta Braves by 25.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,265 shares of the financial services provider's stock worth $87,000 after purchasing an additional 463 shares in the last quarter. Finally, Diversify Advisory Services LLC grew its stake in shares of Atlanta Braves by 3.1% in the fourth quarter. Diversify Advisory Services LLC now owns 15,526 shares of the financial services provider's stock valued at $560,000 after buying an additional 474 shares in the last quarter. 64.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Atlanta Braves to a "sell" rating in a research note on Friday, February 28th.

Atlanta Braves Stock Performance

BATRK remained flat at $40.51 during trading on Friday. 301,422 shares of the company traded hands, compared to its average volume of 279,090. The company has a market cap of $2.08 billion, a P/E ratio of -55.49 and a beta of 0.56. Atlanta Braves Holdings, Inc. has a 1 year low of $35.46 and a 1 year high of $44.43. The stock has a fifty day moving average of $39.11 and a 200-day moving average of $39.24.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The financial services provider reported ($0.31) earnings per share for the quarter, beating analysts' consensus estimates of ($0.69) by $0.38. The firm had revenue of $52.12 million during the quarter, compared to the consensus estimate of $48.20 million. Sell-side analysts predict that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current year.

Insider Activity at Atlanta Braves

In other news, major shareholder John C. Malone purchased 8,371 shares of Atlanta Braves stock in a transaction dated Monday, April 21st. The stock was acquired at an average cost of $41.94 per share, for a total transaction of $351,079.74. Following the acquisition, the insider now directly owns 371,707 shares in the company, valued at $15,589,391.58. This represents a 2.30 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders acquired a total of 122,632 shares of company stock valued at $5,072,723 over the last ninety days. 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.