Northern Trust Corp Reduces Holdings in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK)

Northern Trust Corp trimmed its holdings in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) by 2.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 480,506 shares of the financial services provider's stock after selling 12,440 shares during the quarter. Northern Trust Corp owned 0.95% of Atlanta Braves worth $18,384,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in BATRK. T. Rowe Price Investment Management Inc. raised its position in shares of Atlanta Braves by 256.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,690,889 shares of the financial services provider's stock worth $64,694,000 after acquiring an additional 1,215,948 shares during the period. Gamco Investors INC. ET AL raised its position in shares of Atlanta Braves by 1.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 1,457,676 shares of the financial services provider's stock worth $55,771,000 after acquiring an additional 21,659 shares during the period. Gabelli Funds LLC raised its position in shares of Atlanta Braves by 0.5% in the fourth quarter. Gabelli Funds LLC now owns 1,420,494 shares of the financial services provider's stock worth $54,348,000 after acquiring an additional 6,375 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Atlanta Braves by 5.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 817,798 shares of the financial services provider's stock worth $31,288,000 after acquiring an additional 40,827 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of Atlanta Braves by 3.1% in the fourth quarter. Wellington Management Group LLP now owns 654,762 shares of the financial services provider's stock worth $25,051,000 after acquiring an additional 19,718 shares during the period. 64.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Atlanta Braves news, major shareholder John C. Malone acquired 2,760 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average price of $41.99 per share, with a total value of $115,892.40. Following the purchase, the insider now owns 214,118 shares in the company, valued at approximately $8,990,814.82. The trade was a 1.31% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Deretta C. Rhodes sold 5,000 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $41.20, for a total transaction of $206,000.00. Following the sale, the executive vice president now directly owns 3,112 shares of the company's stock, valued at approximately $128,214.40. This represents a 61.64% decrease in their position. The disclosure for this sale can be found here. Insiders purchased a total of 122,632 shares of company stock worth $5,072,723 in the last 90 days. Insiders own 11.43% of the company's stock.

Wall Street Analysts Forecast Growth

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

Atlanta Braves Stock Performance

Shares of BATRK traded down $0.07 during mid-day trading on Monday, hitting $41.25. 185,438 shares of the company were exchanged, compared to its average volume of 281,763. Atlanta Braves Holdings, Inc. has a 1-year low of $35.46 and a 1-year high of $44.43. The company has a 50 day moving average of $39.32 and a 200-day moving average of $39.27. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of -56.51 and a beta of 0.56.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The financial services provider reported ($0.66) earnings per share for the quarter, topping the consensus estimate of ($0.94) by $0.28. The company had revenue of $47.21 million for the quarter, compared to analyst estimates of $36.87 million. Research analysts anticipate that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current fiscal year.

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.