Shapiro Capital Management LLC Trims Stock Position in Atlanta Braves Holdings, Inc. (NASDAQ:BATRA)

Shapiro Capital Management LLC lowered its position in Atlanta Braves Holdings, Inc. (NASDAQ:BATRA - Free Report) by 11.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,998 shares of the financial services provider's stock after selling 5,602 shares during the quarter. Shapiro Capital Management LLC owned approximately 0.07% of Atlanta Braves worth $1,754,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BATRA. KLP Kapitalforvaltning AS acquired a new position in shares of Atlanta Braves in the 4th quarter valued at $53,000. BNP Paribas Financial Markets purchased a new position in Atlanta Braves during the 4th quarter worth approximately $59,000. PNC Financial Services Group Inc. increased its position in Atlanta Braves by 157.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,495 shares of the financial services provider's stock worth $61,000 after buying an additional 914 shares during the period. R Squared Ltd acquired a new stake in shares of Atlanta Braves in the fourth quarter valued at approximately $96,000. Finally, SG Americas Securities LLC grew its position in shares of Atlanta Braves by 25.6% during the fourth quarter. SG Americas Securities LLC now owns 4,711 shares of the financial services provider's stock worth $192,000 after acquiring an additional 959 shares during the last quarter. Institutional investors and hedge funds own 12.31% of the company's stock.

Analyst Ratings Changes

Separately, Benchmark reaffirmed a "buy" rating and set a $60.00 price objective on shares of Atlanta Braves in a research note on Thursday, February 27th.

Atlanta Braves Stock Performance

Shares of NASDAQ BATRA traded down $0.56 during mid-day trading on Wednesday, hitting $43.99. 24,945 shares of the company were exchanged, compared to its average volume of 43,651. The stock has a 50 day simple moving average of $43.12 and a 200-day simple moving average of $42.41. Atlanta Braves Holdings, Inc. has a 1-year low of $38.67 and a 1-year high of $46.65. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.12. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of -60.26 and a beta of 0.61.

Atlanta Braves (NASDAQ:BATRA - Get Free Report) last released its earnings results on Monday, May 12th. The financial services provider reported ($0.66) EPS for the quarter, topping the consensus estimate of ($0.94) by $0.28. The company had revenue of $47.21 million during the quarter, compared to analysts' expectations of $36.87 million. Atlanta Braves had a negative net margin of 6.56% and a negative return on equity of 8.48%. On average, sell-side analysts forecast that Atlanta Braves Holdings, Inc. will post -0.98 EPS for the current fiscal year.

Insider Buying and Selling at Atlanta Braves

In other news, EVP Deretta C. Rhodes sold 767 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $40.97, for a total transaction of $31,423.99. Following the sale, the executive vice president now owns 3,112 shares of the company's stock, valued at $127,498.64. The trade was a 19.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder John C. Malone acquired 38,452 shares of the company's stock in a transaction that occurred on Tuesday, April 8th. The stock was purchased at an average cost of $40.28 per share, with a total value of $1,548,846.56. Following the completion of the purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 122,632 shares of company stock valued at $5,072,723. 4.83% of the stock is owned by corporate insiders.

About Atlanta Braves

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.