Sumitomo Mitsui Trust Group Inc. reduced its stake in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK – Free Report) by 3.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,115 shares of the financial services provider’s stock after selling 386 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Atlanta Braves were worth $445,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the stock. Federated Hermes Inc. purchased a new position in Atlanta Braves in the fourth quarter worth $40,000. Versant Capital Management Inc raised its stake in shares of Atlanta Braves by 335.7% during the 1st quarter. Versant Capital Management Inc now owns 1,817 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 1,400 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Atlanta Braves by 25.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,265 shares of the financial services provider’s stock worth $87,000 after buying an additional 463 shares during the last quarter. US Bancorp DE grew its position in Atlanta Braves by 17.7% during the fourth quarter. US Bancorp DE now owns 2,862 shares of the financial services provider’s stock valued at $110,000 after buying an additional 430 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in 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 valued at $132,000 after buying an additional 3,023 shares during the period. 64.88% of the stock is currently owned by institutional investors.
Atlanta Braves Stock Performance
Shares of Atlanta Braves stock opened at $46.95 on Friday. The stock has a market capitalization of $2.41 billion, a P/E ratio of -134.14 and a beta of 0.68. Atlanta Braves Holdings, Inc. has a 52-week low of $35.46 and a 52-week high of $47.03. The stock’s 50-day simple moving average is $42.32 and its 200 day simple moving average is $39.96.
Atlanta Braves (NASDAQ:BATRK – Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The financial services provider reported ($0.66) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.94) by $0.28. The business had revenue of $47.21 million during the quarter, compared to the consensus estimate of $36.87 million. Equities research analysts forecast that Atlanta Braves Holdings, Inc. will post -0.89 EPS for the current fiscal year.
Insider Buying and Selling at Atlanta Braves
In other news, major shareholder Mario J. Gabelli acquired 1,549 shares of the business’s stock in a transaction dated Wednesday, May 28th. The stock was bought at an average cost of $43.45 per share, for a total transaction of $67,304.05. Following the completion of the transaction, the insider owned 27,152 shares of the company’s stock, valued at $1,179,754.40. The trade was a 6.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder John C. Malone acquired 8,371 shares of Atlanta Braves stock in a transaction that occurred on Monday, April 21st. The shares were purchased at an average cost of $41.94 per share, with a total value of $351,079.74. Following the purchase, the insider owned 371,707 shares of the company’s stock, valued at $15,589,391.58. This represents a 2.30% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 121,872 shares of company stock worth $5,043,730 and have sold 217,372 shares worth $9,451,951. 11.43% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Several analysts have commented on the stock. Citigroup raised shares of Atlanta Braves to a “hold” rating and set a $45.00 price objective on the stock in a research report on Friday, June 13th. Wall Street Zen raised shares of Atlanta Braves from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Finally, Rosenblatt Securities increased their price objective on Atlanta Braves from $52.00 to $69.00 and gave the company a “buy” rating in a report on Friday, June 20th.
View Our Latest Research Report on Atlanta Braves
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.
Further Reading
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