Y Intercept Hong Kong Ltd Sells 31,088 Shares of Atlanta Braves Holdings, Inc. $BATRK

Y Intercept Hong Kong Ltd reduced its position in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) by 44.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,885 shares of the financial services provider’s stock after selling 31,088 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Atlanta Braves were worth $1,617,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BATRK. Elgethun Capital Management boosted its stake in shares of Atlanta Braves by 6.8% in the 2nd quarter. Elgethun Capital Management now owns 145,531 shares of the financial services provider’s stock worth $6,806,000 after buying an additional 9,250 shares during the last quarter. Parthenon LLC lifted its holdings in Atlanta Braves by 83.1% during the second quarter. Parthenon LLC now owns 158,295 shares of the financial services provider’s stock worth $7,403,000 after acquiring an additional 71,855 shares during the period. Harvey Partners LLC lifted its holdings in Atlanta Braves by 7.3% during the second quarter. Harvey Partners LLC now owns 709,386 shares of the financial services provider’s stock worth $33,178,000 after acquiring an additional 48,386 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in Atlanta Braves in the second quarter worth $288,000. Finally, Highbridge Capital Management LLC grew its stake in Atlanta Braves by 26.7% in the 2nd quarter. Highbridge Capital Management LLC now owns 291,868 shares of the financial services provider’s stock valued at $13,651,000 after purchasing an additional 61,548 shares during the period. 64.88% of the stock is currently owned by hedge funds and other institutional investors.

Atlanta Braves Stock Performance

Shares of Atlanta Braves stock opened at $40.03 on Friday. The stock has a market capitalization of $2.07 billion, a P/E ratio of -1,000.50 and a beta of 0.62. Atlanta Braves Holdings, Inc. has a 52-week low of $35.46 and a 52-week high of $47.18. The stock’s 50-day simple moving average is $39.50 and its 200 day simple moving average is $41.27.

Atlanta Braves (NASDAQ:BATRK) last issued its earnings results on Wednesday, November 5th. The financial services provider reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.23. The business had revenue of $311.54 million for the quarter, compared to the consensus estimate of $309.06 million. Equities research analysts forecast that Atlanta Braves Holdings, Inc. will post -0.89 EPS for the current fiscal year.

Insiders Place Their Bets

In other Atlanta Braves news, major shareholder John C. Malone acquired 28,567 shares of Atlanta Braves stock in a transaction that occurred on Monday, November 17th. The stock was acquired at an average cost of $41.97 per share, for a total transaction of $1,198,956.99. Following the purchase, the insider owned 479,972 shares of the company’s stock, valued at approximately $20,144,424.84. This represents a 6.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders have purchased 66,396 shares of company stock valued at $2,786,825. 11.43% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Zacks Research upgraded Atlanta Braves from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Atlanta Braves in a research report on Monday, December 29th. Rosenblatt Securities reiterated a “buy” rating and issued a $69.00 target price on shares of Atlanta Braves in a research note on Tuesday, December 2nd. Finally, Wall Street Zen upgraded shares of Atlanta Braves from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $57.00.

Atlanta Braves Profile

The Atlanta Braves Real Estate Ownership Trust (NASDAQ:BATRK) is a publicly traded real estate investment trust established in 2021 by Liberty Braves Group. The trust’s primary purpose is to own and manage a portfolio of sports and entertainment properties related to the Atlanta Braves baseball franchise. BATRK generates stable rental income by leasing its assets to the Braves Baseball Club, LLC, under long-term lease agreements designed to align property performance with franchise needs.

The trust’s portfolio is anchored by Truist Park, the 41,084-seat baseball stadium that has served as the Braves’ home since 2017.