HBK Investments L P Sells 12,597 Shares of Atlanta Braves Holdings, Inc. $BATRK

HBK Investments L P lessened its stake in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) by 6.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 185,872 shares of the financial services provider’s stock after selling 12,597 shares during the period. HBK Investments L P owned 0.35% of Atlanta Braves worth $9,647,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Troluce Capital Advisors LLC boosted its holdings in Atlanta Braves by 274.9% in the 1st quarter. Troluce Capital Advisors LLC now owns 2,000,000 shares of the financial services provider’s stock worth $85,400,000 after buying an additional 1,466,584 shares during the period. Irenic Capital Management LP purchased a new stake in Atlanta Braves in the 2nd quarter worth $26,209,000. Southpoint Capital Advisors LP raised its holdings in Atlanta Braves by 28.6% during the first quarter. Southpoint Capital Advisors LP now owns 900,000 shares of the financial services provider’s stock valued at $38,430,000 after acquiring an additional 200,000 shares during the period. Baird Financial Group Inc. bought a new stake in Atlanta Braves during the second quarter valued at about $8,459,000. Finally, Ancora Advisors LLC purchased a new position in shares of Atlanta Braves in the second quarter valued at about $8,163,000. Hedge funds and other institutional investors own 64.88% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BATRK. Morgan Stanley lowered Atlanta Braves from an “overweight” rating to an “equal weight” rating and set a $54.00 price objective for the company. in a research note on Wednesday, July 15th. Wall Street Zen downgraded Atlanta Braves from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Atlanta Braves in a report on Wednesday, June 24th. Finally, Rosenblatt Securities dropped their price target on Atlanta Braves from $75.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, August 7th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $63.50.

Atlanta Braves Stock Down 0.0%

NASDAQ BATRK traded down $0.02 on Wednesday, reaching $50.68. The company had a trading volume of 472,842 shares, compared to its average volume of 440,633. The stock has a market capitalization of $2.68 billion, a PE ratio of -50.18 and a beta of 0.67. The firm’s 50 day moving average price is $51.13 and its 200 day moving average price is $48.86. Atlanta Braves Holdings, Inc. has a 12 month low of $37.76 and a 12 month high of $54.46.

Atlanta Braves (NASDAQ:BATRK) last released its quarterly earnings data on Wednesday, August 5th. The financial services provider reported ($0.19) 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 analyst estimates of $319.00 million. On average, research analysts expect that Atlanta Braves Holdings, Inc. will post -0.44 EPS for the current year.

About Atlanta Braves

Atlanta Braves Holdings, Inc owns and operates the Atlanta Braves, a Major League Baseball franchise based in Atlanta, Georgia. The company’s principal business activities include professional baseball operations, ticket sales, premium seating, sponsorships, broadcasting and media rights, concessions, retail merchandise, and other fan-related services.

The company also owns and operates The Battery Atlanta, a mixed-use development adjacent to Truist Park. The Battery Atlanta includes restaurants, retail stores, office space, residential properties, entertainment venues, hotels and event facilities, providing additional revenue opportunities beyond baseball.

The Braves franchise traces its history to 1871 and has previously been based in Boston and Milwaukee before relocating to Atlanta in 1966.