Sanders Morris Harris LLC acquired a new stake in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK – Free Report) during the 3rd quarter, Holdings Channel reports. The institutional investor acquired 16,950 shares of the financial services provider’s stock, valued at approximately $897,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Rockefeller Capital Management L.P. raised 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 valued at $266,000 after purchasing an additional 310 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Atlanta Braves by 2.8% during the 2nd quarter. Arizona State Retirement System now owns 13,123 shares of the financial services provider’s stock valued at $681,000 after purchasing an additional 361 shares during the last quarter. Ancora Advisors LLC boosted its stake in Atlanta Braves by 0.3% in the 2nd quarter. Ancora Advisors LLC now owns 157,275 shares of the financial services provider’s stock worth $8,163,000 after purchasing an additional 457 shares in the last quarter. Lido Advisors LLC lifted its position in Atlanta Braves by 9.9% during the 1st quarter. Lido Advisors LLC now owns 6,310 shares of the financial services provider’s stock worth $269,000 after acquiring an additional 570 shares during the period. Finally, Global Trust Asset Management LLC acquired a new position in Atlanta Braves in the 1st quarter worth approximately $26,000. Institutional investors own 64.88% of the company’s stock.
Insider Buying and Selling at Atlanta Braves
In related news, EVP Derek Schiller sold 175,395 shares of the business’s stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $53.20, for a total value of $9,331,014.00. Following the completion of the sale, the executive vice president directly owned 316,908 shares of the company’s stock, valued at $16,859,505.60. The trade was a 35.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gregory Heller sold 80,263 shares of the firm’s stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $53.89, for a total transaction of $4,325,373.07. Following the transaction, the executive vice president owned 22,741 shares in the company, valued at approximately $1,225,512.49. This trade represents a 77.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 11.43% of the company’s stock.
Atlanta Braves Price Performance
Atlanta Braves (NASDAQ:BATRK – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.50). The firm had revenue of $305.12 million during the quarter, compared to analyst estimates of $319.00 million. Equities research analysts expect that Atlanta Braves Holdings, Inc. will post -0.44 earnings per share for the current year.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on the company. Morgan Stanley cut Atlanta Braves from an “overweight” rating to an “equal weight” rating and set a $54.00 price objective for the company. in a report on Wednesday, July 15th. Wall Street Zen lowered Atlanta Braves from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Atlanta Braves in a report on Monday, September 21st. Finally, Rosenblatt Securities dropped their price objective on shares of Atlanta Braves from $75.00 to $73.00 and set a “buy” rating for the company in a report on Friday, August 7th. One 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 data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $63.50.
Get Our Latest Research Report on BATRK
About Atlanta Braves
Atlanta Braves Holdings, Inc owns and operates the Atlanta Braves, a Major League Baseball franchise based in Atlanta, Georgia. The organization manages the team’s baseball operations, ticket sales, sponsorships, media and broadcasting activities, merchandise, and other commercial initiatives associated with the franchise.
The Braves play their home games at Truist Park in Cobb County, Georgia, which opened in 2017. The adjacent Battery Atlanta is a mixed-use development featuring restaurants, retail, office, hospitality, entertainment, and residential properties.
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