SG Americas Securities LLC Sells 12,555 Shares of Atlanta Braves Holdings, Inc. $BATRK

SG Americas Securities LLC cut its stake in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) by 6.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 184,058 shares of the financial services provider’s stock after selling 12,555 shares during the quarter. SG Americas Securities LLC’s holdings in Atlanta Braves were worth $7,859,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Rockefeller Capital Management L.P. grew its position in Atlanta Braves by 4.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 6,745 shares of the financial services provider’s stock worth $266,000 after acquiring an additional 310 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Atlanta Braves in the fourth quarter valued at about $287,000. KKM Financial LLC bought a new position in Atlanta Braves in the fourth quarter valued at about $849,000. nVerses Capital LLC acquired a new stake in shares of Atlanta Braves during the fourth quarter valued at about $249,000. Finally, Summit Securities Group LLC grew its holdings in shares of Atlanta Braves by 50.0% during the fourth quarter. Summit Securities Group LLC now owns 3,000 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 1,000 shares during the last quarter. 64.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Zacks Research downgraded Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Wall Street Zen raised shares of Atlanta Braves from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Atlanta Braves in a report on Wednesday. Finally, Rosenblatt Securities boosted their price objective on shares of Atlanta Braves from $69.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $75.00.

Atlanta Braves Price Performance

Atlanta Braves stock opened at $51.96 on Friday. The stock’s 50 day moving average is $49.97 and its 200 day moving average is $44.42. The firm has a market cap of $2.75 billion, a P/E ratio of -144.33 and a beta of 0.71. Atlanta Braves Holdings, Inc. has a one year low of $37.76 and a one year high of $52.75.

Atlanta Braves (NASDAQ:BATRK) last released its earnings results on Monday, May 11th. The financial services provider reported ($0.63) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.20. The firm had revenue of $72.01 million for the quarter, compared to analyst estimates of $64.60 million. Equities analysts anticipate that Atlanta Braves Holdings, Inc. will post 0.02 earnings per share for the current fiscal year.

About Atlanta Braves

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.