HighTower Advisors LLC Sells 20,852 Shares of Atlanta Braves Holdings, Inc. $BATRK

HighTower Advisors LLC decreased its holdings in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) by 30.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 47,317 shares of the financial services provider’s stock after selling 20,852 shares during the period. HighTower Advisors LLC’s holdings in Atlanta Braves were worth $1,867,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of 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 valued at $110,029,000 after purchasing an additional 317,065 shares in the last quarter. Harvey Partners LLC increased its stake in shares of Atlanta Braves by 4.5% during the third quarter. Harvey Partners LLC now owns 741,500 shares of the financial services provider’s stock valued at $30,839,000 after purchasing an additional 32,114 shares in the last quarter. UBS Group AG increased its stake in shares of Atlanta Braves by 14.5% during the fourth quarter. UBS Group AG now owns 557,102 shares of the financial services provider’s stock valued at $21,978,000 after purchasing an additional 70,341 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Atlanta Braves by 68.1% during the third quarter. Millennium Management LLC now owns 494,905 shares of the financial services provider’s stock valued at $20,583,000 after buying an additional 200,555 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its holdings in shares of Atlanta Braves by 504.1% during the third quarter. Qube Research & Technologies Ltd now owns 436,158 shares of the financial services provider’s stock valued at $18,140,000 after buying an additional 363,953 shares during the last quarter. Institutional investors own 64.88% of the company’s stock.

Atlanta Braves Trading Down 0.1%

Shares of BATRK stock opened at $49.54 on Tuesday. Atlanta Braves Holdings, Inc. has a 12-month low of $37.76 and a 12-month high of $52.05. The firm’s 50 day moving average is $47.20 and its 200 day moving average is $42.89. The stock has a market capitalization of $2.62 billion, a P/E ratio of -137.61 and a beta of 0.71.

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Zacks Research cut shares of Atlanta Braves from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Rosenblatt Securities increased their price target on shares of Atlanta Braves from $69.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Wall Street Zen upgraded shares of Atlanta Braves from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Atlanta Braves in a report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $60.00.

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.