S&CO Inc. purchased a new stake in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 19,481 shares of the financial services provider’s stock, valued at approximately $1,011,000.
Other large investors also recently bought and sold shares of the company. Global Trust Asset Management LLC acquired a new stake in shares of Atlanta Braves during the first quarter worth about $26,000. EverSource Wealth Advisors LLC grew its stake in Atlanta Braves by 956.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 697 shares of the financial services provider’s stock worth $33,000 after buying an additional 631 shares during the last quarter. Advisory Services Network LLC purchased a new position in Atlanta Braves during the 3rd quarter worth approximately $34,000. Fifth Third Bancorp acquired a new position in Atlanta Braves during the first quarter worth approximately $35,000. Finally, Comerica Bank increased its position in Atlanta Braves by 44.8% during the first quarter. Comerica Bank now owns 1,031 shares of the financial services provider’s stock worth $41,000 after buying an additional 319 shares during the period. Institutional investors and hedge funds own 64.88% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Atlanta Braves in a report on Wednesday, June 24th. Rosenblatt Securities cut their target price on shares of Atlanta Braves from $75.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Wall Street Zen downgraded shares of Atlanta Braves from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 8th. Zacks Research cut shares of Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Morgan Stanley downgraded shares of Atlanta Braves from an “overweight” rating to an “equal weight” rating and set a $54.00 price objective on the stock. in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $63.50.
Atlanta Braves Price Performance
Shares of NASDAQ BATRK opened at $53.58 on Friday. The stock has a fifty day moving average price of $51.23 and a 200 day moving average price of $47.29. Atlanta Braves Holdings, Inc. has a 1-year low of $37.76 and a 1-year high of $54.46. The company has a market cap of $2.83 billion, a PE ratio of -53.05 and a beta of 0.68.
Atlanta Braves (NASDAQ:BATRK – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.50). The business had revenue of $305.12 million for the quarter, compared to the consensus estimate of $319.00 million. Analysts anticipate that Atlanta Braves Holdings, Inc. will post -0.37 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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