Advisors Capital Management LLC Increases Stake in Atlanta Braves Holdings, Inc. $BATRK

Advisors Capital Management LLC increased its position in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) by 2.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 86,788 shares of the financial services provider’s stock after acquiring an additional 2,105 shares during the quarter. Advisors Capital Management LLC owned about 0.17% of Atlanta Braves worth $3,472,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Gabelli Funds LLC boosted its stake in Atlanta Braves by 3.7% in the 1st quarter. Gabelli Funds LLC now owns 1,473,271 shares of the financial services provider’s stock worth $58,946,000 after purchasing an additional 52,777 shares during the period. Russell Investments Group Ltd. boosted its stake in Atlanta Braves by 76.0% in the 1st quarter. Russell Investments Group Ltd. now owns 84,287 shares of the financial services provider’s stock worth $3,372,000 after purchasing an additional 36,386 shares during the period. Foundations Investment Advisors LLC boosted its stake in Atlanta Braves by 143.5% in the 1st quarter. Foundations Investment Advisors LLC now owns 14,632 shares of the financial services provider’s stock worth $585,000 after purchasing an additional 8,624 shares during the period. Southpoint Capital Advisors LP boosted its stake in Atlanta Braves by 6.7% in the 1st quarter. Southpoint Capital Advisors LP now owns 800,000 shares of the financial services provider’s stock worth $32,008,000 after purchasing an additional 50,000 shares during the period. Finally, Teacher Retirement System of Texas bought a new position in Atlanta Braves in the 1st quarter worth about $253,000. Institutional investors own 64.88% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on BATRK shares. Rosenblatt Securities raised their target price on Atlanta Braves from $52.00 to $69.00 and gave the stock a “buy” rating in a research note on Friday, June 20th. Wall Street Zen upgraded Atlanta Braves from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Finally, Citigroup upgraded Atlanta Braves to a “hold” rating and set a $45.00 target price for the company in a research note on Friday, June 13th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Atlanta Braves has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

Atlanta Braves Trading Up 1.4%

Shares of BATRK opened at $42.40 on Friday. The company has a market cap of $2.66 billion, a PE ratio of -121.14 and a beta of 0.67. The stock has a 50-day moving average price of $44.78 and a 200-day moving average price of $42.07. Atlanta Braves Holdings, Inc. has a 12-month low of $35.46 and a 12-month high of $47.18.

Atlanta Braves (NASDAQ:BATRK) last issued its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.18). The firm had revenue of $312.44 million during the quarter, compared to analysts’ expectations of $296.36 million. As a group, analysts predict that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current year.

Insider Buying and Selling at Atlanta Braves

In related news, EVP Derek Gordon Schiller sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $44.00, for a total transaction of $1,760,000.00. Following the transaction, the executive vice president directly owned 300,233 shares of the company’s stock, valued at approximately $13,210,252. This trade represents a 11.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 70,100 shares of company stock worth $3,129,812. Company insiders own 11.43% 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.