Renaissance Technologies LLC Has $19.32 Million Position in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK)

Renaissance Technologies LLC cut its stake in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) by 35.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 504,848 shares of the financial services provider’s stock after selling 276,000 shares during the quarter. Renaissance Technologies LLC owned approximately 0.99% of Atlanta Braves worth $19,315,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Federated Hermes Inc. acquired a new stake in Atlanta Braves during the 4th quarter valued at $40,000. R Squared Ltd bought a new stake in shares of Atlanta Braves during the fourth quarter worth $41,000. PNC Financial Services Group Inc. grew its holdings in shares of Atlanta Braves by 25.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,265 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 463 shares during the last quarter. US Bancorp DE increased its stake in shares of Atlanta Braves by 17.7% in the fourth quarter. US Bancorp DE now owns 2,862 shares of the financial services provider’s stock valued at $110,000 after buying an additional 430 shares in the last quarter. Finally, OFI Invest Asset Management bought a new position in shares of Atlanta Braves in the fourth quarter valued at about $157,000. Institutional investors and hedge funds own 64.88% of the company’s stock.

Atlanta Braves Price Performance

BATRK stock opened at $37.93 on Monday. The stock has a market capitalization of $1.94 billion, a PE ratio of -51.96 and a beta of 0.56. The company has a 50 day moving average price of $39.32 and a 200 day moving average price of $39.30. Atlanta Braves Holdings, Inc. has a fifty-two week low of $35.46 and a fifty-two week high of $44.43.

Atlanta Braves (NASDAQ:BATRK) last issued its quarterly earnings results on Wednesday, February 26th. The financial services provider reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.69) by $0.38. The firm had revenue of $52.12 million for the quarter, compared to analyst estimates of $48.20 million. As a group, equities analysts expect that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Atlanta Braves

In related news, major shareholder John C. Malone purchased 2,760 shares of Atlanta Braves stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average cost of $41.99 per share, for a total transaction of $115,892.40. Following the transaction, the insider now directly owns 214,118 shares of the company’s stock, valued at approximately $8,990,814.82. This trade represents a 1.31 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders have acquired 86,144 shares of company stock worth $3,529,134. Company insiders own 11.43% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Atlanta Braves to a “sell” rating in a research report on Friday, February 28th.

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.