504,983 Shares in Atlanta Braves Holdings, Inc. $BATRK Acquired by Irenic Capital Management LP

Irenic Capital Management LP acquired a new stake in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 504,983 shares of the financial services provider’s stock, valued at approximately $26,209,000. Atlanta Braves makes up 1.3% of Irenic Capital Management LP’s investment portfolio, making the stock its 20th largest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Atlanta Braves by 12.8% during the fourth quarter. Vanguard Group Inc. now owns 2,789,084 shares of the financial services provider’s stock worth $110,029,000 after purchasing an additional 317,065 shares in the last quarter. Hawk Ridge Capital Management LP increased its position in shares of Atlanta Braves by 16.5% in the fourth quarter. Hawk Ridge Capital Management LP now owns 2,661,429 shares of the financial services provider’s stock valued at $104,993,000 after buying an additional 377,307 shares in the last quarter. Broad Bay Capital Management LP increased its position in shares of Atlanta Braves by 11.9% in the fourth quarter. Broad Bay Capital Management LP now owns 2,202,745 shares of the financial services provider’s stock valued at $86,898,000 after buying an additional 233,771 shares in the last quarter. Troluce Capital Advisors LLC raised its stake in shares of Atlanta Braves by 274.9% during 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 last quarter. Finally, CI Investments Inc. raised its stake in shares of Atlanta Braves by 1.0% during the 4th quarter. CI Investments Inc. now owns 1,699,739 shares of the financial services provider’s stock worth $67,055,000 after buying an additional 16,404 shares during the last quarter. 64.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Wall Street Zen cut shares of Atlanta Braves from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 8th. Morgan Stanley downgraded shares of Atlanta Braves from an “overweight” rating to an “equal weight” rating and set a $54.00 target price for the company. in a report on Wednesday, July 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Atlanta Braves in a research report on Wednesday, June 24th. Finally, Rosenblatt Securities reduced their price target 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. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $63.50.

Atlanta Braves Stock Performance

Shares of BATRK opened at $50.44 on Friday. Atlanta Braves Holdings, Inc. has a 1 year low of $37.76 and a 1 year high of $54.46. The company’s 50 day simple moving average is $51.45 and its 200 day simple moving average is $48.49. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of -49.94 and a beta of 0.67.

Atlanta Braves (NASDAQ:BATRK) last released its earnings results 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 analysts’ expectations of $319.00 million. Equities analysts expect that Atlanta Braves Holdings, Inc. will post -0.44 EPS for the current fiscal year.

Atlanta Braves Company Profile

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.