Cinctive Capital Management LP boosted its holdings in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK – Free Report) by 35.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 157,411 shares of the financial services provider’s stock after purchasing an additional 40,843 shares during the period. Cinctive Capital Management LP owned 0.30% of Atlanta Braves worth $6,210,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of BATRK. EverSource Wealth Advisors LLC boosted its position in Atlanta Braves by 956.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 697 shares of the financial services provider’s stock valued at $33,000 after buying an additional 631 shares during the last quarter. Jones Financial Companies Lllp boosted its position in Atlanta Braves by 218.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 799 shares of the financial services provider’s stock valued at $33,000 after buying an additional 548 shares during the last quarter. Advisory Services Network LLC bought a new position in Atlanta Braves in the 3rd quarter valued at $34,000. Comerica Bank boosted its position in Atlanta Braves by 44.8% in the 1st quarter. Comerica Bank now owns 1,031 shares of the financial services provider’s stock valued at $41,000 after buying an additional 319 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new position in Atlanta Braves in the 4th quarter valued at $51,000. 64.88% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts have commented on BATRK shares. Rosenblatt Securities increased their price objective on Atlanta Braves from $69.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Wall Street Zen upgraded Atlanta Braves from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Zacks Research lowered Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Atlanta Braves in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Atlanta Braves currently has an average rating of “Hold” and a consensus price target of $75.00.
Atlanta Braves Price Performance
BATRK opened at $51.10 on Thursday. The business’s 50-day moving average price is $49.04 and its two-hundred day moving average price is $43.87. Atlanta Braves Holdings, Inc. has a 1 year low of $37.76 and a 1 year high of $52.11. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of -141.94 and a beta of 0.71.
Atlanta Braves (NASDAQ:BATRK – Get Free Report) last released its quarterly earnings results on Monday, May 11th. The financial services provider reported ($0.63) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.83) by $0.20. The firm had revenue of $72.01 million during the quarter, compared to analyst estimates of $64.60 million. Sell-side 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.
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