Needham Investment Management LLC Takes Position in Atlanta Braves Holdings, Inc. $BATRK

Needham Investment Management LLC bought a new stake in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 105,000 shares of the financial services provider’s stock, valued at approximately $4,142,000. Needham Investment Management LLC owned 0.20% of Atlanta Braves at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Highbridge Capital Management LLC increased its stake in Atlanta Braves by 34.9% in the 3rd quarter. Highbridge Capital Management LLC now owns 393,633 shares of the financial services provider’s stock valued at $16,371,000 after buying an additional 101,765 shares during the period. Capula Management Ltd acquired a new position in Atlanta Braves in the 3rd quarter valued at $977,000. Vanguard Group Inc. increased its stake in Atlanta Braves by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 2,472,019 shares of the financial services provider’s stock valued at $102,811,000 after buying an additional 23,694 shares during the period. JPMorgan Chase & Co. increased its stake in Atlanta Braves by 46.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 204,929 shares of the financial services provider’s stock valued at $8,523,000 after buying an additional 64,968 shares during the period. Finally, Parthenon LLC increased its stake in Atlanta Braves by 31.3% in the 4th quarter. Parthenon LLC now owns 223,665 shares of the financial services provider’s stock valued at $8,824,000 after buying an additional 53,321 shares during the period. 64.88% of the stock is owned by institutional investors and hedge funds.

Atlanta Braves Stock Up 0.2%

NASDAQ:BATRK opened at $50.82 on Tuesday. Atlanta Braves Holdings, Inc. has a fifty-two week low of $37.76 and a fifty-two week high of $52.05. The firm’s fifty day simple moving average is $48.74 and its 200-day simple moving average is $43.70. The stock has a market cap of $2.69 billion, a PE ratio of -141.17 and a beta of 0.71.

Atlanta Braves (NASDAQ:BATRK) last released its quarterly earnings data on Monday, May 11th. The financial services provider reported ($0.63) EPS for the quarter, topping the consensus estimate of ($0.83) by $0.20. The business had revenue of $72.01 million during the quarter, compared to analysts’ expectations of $64.60 million. Equities analysts anticipate that Atlanta Braves Holdings, Inc. will post 0.02 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on BATRK shares. Rosenblatt Securities boosted their price objective on shares of Atlanta Braves from $69.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Atlanta Braves in a research note on Friday, March 27th. Wall Street Zen raised shares of Atlanta Braves from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Zacks Research cut shares of Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $75.00.

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.