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

Northern Trust Corp reduced its stake in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) by 2.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. 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 about 0.95% of Atlanta Braves worth $18,384,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Federated Hermes Inc. purchased a new position in shares of Atlanta Braves during the fourth quarter worth $40,000. R Squared Ltd purchased a new position in shares of Atlanta Braves during the fourth quarter worth $41,000. PNC Financial Services Group Inc. raised its holdings 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 during the last quarter. US Bancorp DE raised its holdings in shares of Atlanta Braves by 17.7% during the fourth quarter. US Bancorp DE now owns 2,862 shares of the financial services provider's stock worth $110,000 after purchasing an additional 430 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Atlanta Braves by 687.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,463 shares of the financial services provider's stock worth $132,000 after purchasing an additional 3,023 shares during the last quarter. 64.88% of the stock is owned by hedge funds and other institutional investors.

Atlanta Braves Stock Down 0.3%

Shares of NASDAQ BATRK traded down $0.11 during midday trading on Friday, reaching $41.32. 248,472 shares of the stock were exchanged, compared to its average volume of 281,776. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of -56.60 and a beta of 0.56. Atlanta Braves Holdings, Inc. has a twelve month low of $35.46 and a twelve month high of $44.43. The firm has a 50-day simple moving average of $39.22 and a two-hundred day simple moving average of $39.26.

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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.94) by $0.28. The company had revenue of $47.21 million during the quarter, compared to analyst estimates of $36.87 million. Research analysts expect that Atlanta Braves Holdings, Inc. will post -0.89 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insider Activity at Atlanta Braves

In other Atlanta Braves news, EVP Deretta C. Rhodes sold 5,000 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $41.20, for a total value of $206,000.00. Following the transaction, the executive vice president now owns 3,112 shares in the company, valued at approximately $128,214.40. This trade represents a 61.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder John C. Malone acquired 38,452 shares of the firm's stock in a transaction on Tuesday, April 8th. The stock was purchased at an average price of $40.28 per share, for a total transaction of $1,548,846.56. Following the acquisition, the insider now directly owns 254,428 shares in the company, valued at $10,248,359.84. This represents a 17.80% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 122,632 shares of company stock valued at $5,072,723. 11.43% of the stock is owned by company insiders.

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.