Short Interest in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) Drops By 14.2%

Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) was the target of a large decrease in short interest in May. As of May 15th, there was short interest totalling 1,733,700 shares, a decrease of 14.2% from the April 30th total of 2,020,000 shares. Currently, 3.4% of the shares of the stock are sold short. Based on an average daily volume of 293,200 shares, the days-to-cover ratio is presently 5.9 days.

Atlanta Braves Trading Down 0.3%

Shares of NASDAQ:BATRK opened at $40.26 on Friday. The stock has a market capitalization of $2.07 billion, a P/E ratio of -55.15 and a beta of 0.54. The stock’s 50-day moving average price is $39.58 and its 200-day moving average price is $39.28. Atlanta Braves has a 12-month low of $35.46 and a 12-month high of $44.43.

Atlanta Braves (NASDAQ:BATRK) last announced its quarterly earnings results on Monday, May 12th. The financial services provider reported ($0.66) EPS for the quarter, topping analysts’ consensus estimates of ($0.94) by $0.28. The company had revenue of $47.21 million during the quarter, compared to analysts’ expectations of $36.87 million. As a group, research analysts predict that Atlanta Braves will post -0.89 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Atlanta Braves from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd.

Insiders Place Their Bets

In related news, major shareholder Mario J. Gabelli acquired 1,549 shares of the company’s stock in a transaction dated Wednesday, May 28th. The stock was bought at an average cost of $43.45 per share, with a total value of $67,304.05. Following the acquisition, the insider now owns 27,152 shares of the company’s stock, valued at approximately $1,179,754.40. The trade was a 6.05% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder John C. Malone bought 2,760 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average price of $41.99 per share, with a total value of $115,892.40. Following the completion of the transaction, the insider now directly owns 214,118 shares of the company’s stock, valued at $8,990,814.82. This represents a 1.31% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 124,632 shares of company stock worth $5,159,623 in the last three months. 11.43% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Atlanta Braves

Several institutional investors have recently added to or reduced their stakes in the company. CWM LLC grew its position in shares of Atlanta Braves by 56.4% in the 1st quarter. CWM LLC now owns 824 shares of the financial services provider’s stock worth $33,000 after buying an additional 297 shares during the last quarter. Federated Hermes Inc. purchased a new position in Atlanta Braves during the 4th quarter valued at $40,000. Comerica Bank lifted its position in shares of Atlanta Braves by 44.8% in the 1st quarter. Comerica Bank now owns 1,031 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 319 shares during the period. Summit Securities Group LLC bought a new stake in shares of Atlanta Braves during the 1st quarter valued at about $60,000. Finally, Versant Capital Management Inc raised its stake in Atlanta Braves by 335.7% in the first quarter. Versant Capital Management Inc now owns 1,817 shares of the financial services provider’s stock worth $73,000 after buying an additional 1,400 shares in the last quarter. Hedge funds and other institutional investors own 64.88% of the company’s stock.

Atlanta Braves Company Profile

Atlanta Braves Holdings, Inc owns and operates the Atlanta Braves Major league baseball club. It also operates mixed-use development project, including retail, office, hotel, and entertainment projects. The company was incorporated in 2022 and is based in Englewood, Colorado.