Atlanta Braves Holdings, Inc. $BATRK Shares Bought by Harvey Partners LLC

Harvey Partners LLC lifted its holdings in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) by 4.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 741,500 shares of the financial services provider’s stock after buying an additional 32,114 shares during the period. Atlanta Braves makes up about 2.7% of Harvey Partners LLC’s portfolio, making the stock its 16th biggest holding. Harvey Partners LLC’s holdings in Atlanta Braves were worth $30,839,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in BATRK. Dendur Capital LP acquired a new stake in Atlanta Braves in the 2nd quarter valued at $20,111,000. Invesco Ltd. lifted its stake in shares of Atlanta Braves by 406.3% during the third quarter. Invesco Ltd. now owns 261,754 shares of the financial services provider’s stock worth $10,886,000 after purchasing an additional 210,051 shares in the last quarter. Scopia Capital Management LP purchased a new stake in shares of Atlanta Braves in the second quarter worth about $8,755,000. Highbridge Capital Management LLC grew its stake in shares of Atlanta Braves by 34.9% in the third quarter. Highbridge Capital Management LLC now owns 393,633 shares of the financial services provider’s stock valued at $16,371,000 after buying an additional 101,765 shares in the last quarter. Finally, River Road Asset Management LLC grew its stake in shares of Atlanta Braves by 86.0% in the second quarter. River Road Asset Management LLC now owns 218,897 shares of the financial services provider’s stock valued at $9,754,000 after buying an additional 101,189 shares in the last quarter. 64.88% of the stock is owned by hedge funds and other institutional investors.

Atlanta Braves Price Performance

NASDAQ:BATRK opened at $43.09 on Monday. The firm has a 50-day moving average of $41.38 and a two-hundred day moving average of $40.64. The stock has a market cap of $2.27 billion, a P/E ratio of -110.48 and a beta of 0.54. Atlanta Braves Holdings, Inc. has a 1-year low of $35.46 and a 1-year high of $47.18.

Atlanta Braves (NASDAQ:BATRK) last released its quarterly earnings results on Wednesday, February 25th. The financial services provider reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.66) by $0.38. The business had revenue of $61.30 million during the quarter, compared to analyst estimates of $54.93 million. As a group, equities analysts expect that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on BATRK shares. Wall Street Zen lowered Atlanta Braves from a “hold” rating to a “sell” rating in a research report on Saturday. Rosenblatt Securities reaffirmed a “buy” rating and issued a $69.00 price objective on shares of Atlanta Braves in a research report on Thursday, February 26th. Zacks Research upgraded shares of Atlanta Braves from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 5th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Atlanta Braves in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Atlanta Braves currently has a consensus rating of “Moderate Buy” and an average target price of $57.00.

Insider Transactions at Atlanta Braves

In other Atlanta Braves news, major shareholder John C. Malone acquired 35,000 shares of the company’s stock in a transaction on Thursday, February 5th. The shares were bought at an average cost of $44.23 per share, for a total transaction of $1,548,050.00. Following the acquisition, the insider directly owned 521,862 shares of the company’s stock, valued at $23,081,956.26. This trade represents a 7.19% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Atlanta Braves Company 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.