S&CO Inc. Makes New $1.01 Million Investment in Atlanta Braves Holdings, Inc. $BATRK

S&CO Inc. purchased a new stake in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) in the 2nd quarter, Holdings Channel reports. The fund purchased 19,481 shares of the financial services provider’s stock, valued at approximately $1,011,000.

A number of other institutional investors have also recently modified their holdings of BATRK. Global Trust Asset Management LLC purchased a new position in Atlanta Braves in the first quarter worth $26,000. EverSource Wealth Advisors LLC boosted its position in shares of Atlanta Braves by 956.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 697 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 631 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Atlanta Braves during the 3rd quarter worth $34,000. Fifth Third Bancorp acquired a new position in shares of Atlanta Braves during the 1st quarter worth $35,000. Finally, Comerica Bank grew its stake in shares of Atlanta Braves by 44.8% during the 1st quarter. Comerica Bank now owns 1,031 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 319 shares during the period. 64.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on BATRK shares. Wall Street Zen downgraded shares of Atlanta Braves from a “hold” rating to a “strong sell” rating in a report on Saturday, August 8th. Rosenblatt Securities dropped their target price on shares of Atlanta Braves from $75.00 to $73.00 and set a “buy” rating for the company in a report on Friday, August 7th. Zacks Research downgraded shares of Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Morgan Stanley lowered Atlanta Braves from an “overweight” rating to an “equal weight” rating and set a $54.00 price target on the stock. in a research note on Wednesday, July 15th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Atlanta Braves in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $63.50.

Atlanta Braves Stock Performance

BATRK stock opened at $53.58 on Friday. The stock’s 50 day moving average price is $51.23 and its 200 day moving average price is $47.29. The firm has a market cap of $2.83 billion, a P/E ratio of -53.05 and a beta of 0.68. Atlanta Braves Holdings, Inc. has a 1 year low of $37.76 and a 1 year high of $54.46.

Atlanta Braves (NASDAQ:BATRK) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.50). The business had revenue of $305.12 million during the quarter, compared to the consensus estimate of $319.00 million. On average, research analysts predict that Atlanta Braves Holdings, Inc. will post -0.37 earnings per share for the current year.

About Atlanta Braves

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.