Atlanta Braves Holdings, Inc. $BATRK Shares Bought by Highbridge Capital Management LLC

Highbridge Capital Management LLC grew its stake in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) by 26.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 291,868 shares of the financial services provider’s stock after acquiring an additional 61,548 shares during the quarter. Highbridge Capital Management LLC owned about 0.57% of Atlanta Braves worth $13,651,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BATRK. Parthenon LLC lifted its holdings in Atlanta Braves by 83.1% in the 2nd quarter. Parthenon LLC now owns 158,295 shares of the financial services provider’s stock valued at $7,403,000 after purchasing an additional 71,855 shares in the last quarter. Gabelli Funds LLC raised its position in shares of Atlanta Braves by 3.7% in the first quarter. Gabelli Funds LLC now owns 1,473,271 shares of the financial services provider’s stock valued at $58,946,000 after buying an additional 52,777 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Atlanta Braves during the second quarter valued at approximately $288,000. Y Intercept Hong Kong Ltd acquired a new stake in Atlanta Braves during the second quarter worth approximately $3,273,000. Finally, Longboard Asset Management LP purchased a new stake in Atlanta Braves in the 2nd quarter worth approximately $315,000. Hedge funds and other institutional investors own 64.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on BATRK shares. Weiss Ratings reissued a “sell (d)” rating on shares of Atlanta Braves in a research note on Wednesday. Wall Street Zen lowered Atlanta Braves from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Finally, Zacks Research upgraded Atlanta Braves from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Atlanta Braves currently has an average rating of “Moderate Buy” and a consensus target price of $57.00.

Atlanta Braves Stock Up 0.7%

Shares of BATRK opened at $38.43 on Friday. Atlanta Braves Holdings, Inc. has a fifty-two week low of $35.46 and a fifty-two week high of $47.18. The company’s fifty day moving average is $40.14 and its two-hundred day moving average is $42.47. The firm has a market cap of $1.98 billion, a PE ratio of -960.51 and a beta of 0.61.

Atlanta Braves (NASDAQ:BATRK) last released its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.23. The firm had revenue of $311.54 million for the quarter, compared to analyst estimates of $309.06 million. As a group, equities research analysts anticipate that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current year.

Insider Activity

In other news, major shareholder John C. Malone bought 4,631 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The stock was acquired at an average price of $41.99 per share, for a total transaction of $194,455.69. Following the acquisition, the insider owned 484,603 shares of the company’s stock, valued at $20,348,479.97. This trade represents a 0.96% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Gamco Investors, Inc. Et Al sold 800 shares of the stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $45.41, for a total transaction of $36,328.00. Following the sale, the insider directly owned 1,000 shares of the company’s stock, valued at approximately $45,410. This trade represents a 44.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have acquired 67,236 shares of company stock valued at $2,822,097 and have sold 3,700 shares valued at $167,859. Corporate insiders own 11.43% of the company’s stock.

About Atlanta Braves

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.