Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) Position Raised by Sheets Smith Wealth Management

Sheets Smith Wealth Management grew its position in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) by 4.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 19,829 shares of the financial services provider’s stock after purchasing an additional 893 shares during the quarter. Sheets Smith Wealth Management’s holdings in Atlanta Braves were worth $793,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Rhumbline Advisers raised its holdings in shares of Atlanta Braves by 16.8% during the fourth quarter. Rhumbline Advisers now owns 80,240 shares of the financial services provider’s stock valued at $3,070,000 after buying an additional 11,554 shares during the last quarter. State of New Jersey Common Pension Fund D raised its stake in Atlanta Braves by 12.7% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 52,050 shares of the financial services provider’s stock valued at $1,991,000 after acquiring an additional 5,877 shares in the last quarter. Truist Financial Corp boosted its position in Atlanta Braves by 5.2% during the 4th quarter. Truist Financial Corp now owns 10,892 shares of the financial services provider’s stock worth $417,000 after acquiring an additional 535 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in Atlanta Braves during the 4th quarter worth $211,000. Finally, Proficio Capital Partners LLC bought a new position in shares of Atlanta Braves in the fourth quarter worth $821,000. Institutional investors own 64.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Citigroup upgraded shares of Atlanta Braves to a “hold” rating and set a $45.00 price objective on the stock in a research note on Friday, June 13th. Rosenblatt Securities raised their target price on shares of Atlanta Braves from $52.00 to $69.00 and gave the company a “buy” rating in a research note on Friday. Finally, Wall Street Zen upgraded shares of Atlanta Braves from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd.

Insider Buying and Selling

In other news, EVP Derek Gordon Schiller sold 30,000 shares of the stock in a transaction on Friday, June 20th. The stock was sold at an average price of $45.50, for a total transaction of $1,365,000.00. Following the completion of the sale, the executive vice president now owns 300,233 shares in the company, valued at approximately $13,660,601.50. This represents a 9.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael P. Plant sold 69,000 shares of the firm’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $43.00, for a total value of $2,967,000.00. Following the sale, the executive vice president now directly owns 205,593 shares of the company’s stock, valued at approximately $8,840,499. This represents a 25.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have bought 121,872 shares of company stock valued at $5,043,730 and have sold 217,372 shares valued at $9,451,951. 11.43% of the stock is owned by corporate insiders.

Atlanta Braves Price Performance

BATRK opened at $46.50 on Tuesday. The business has a 50 day moving average price of $40.88 and a two-hundred day moving average price of $39.53. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of -132.85 and a beta of 0.54. Atlanta Braves Holdings, Inc. has a 1-year low of $35.46 and a 1-year high of $46.93.

Atlanta Braves (NASDAQ:BATRK) last posted its quarterly earnings data on Monday, May 12th. The financial services provider reported ($0.66) EPS for the quarter, topping analysts’ consensus estimates of ($0.94) by $0.28. The firm had revenue of $47.21 million during the quarter, compared to the consensus estimate of $36.87 million. Equities analysts expect that Atlanta Braves Holdings, Inc. will post -0.89 EPS for the current fiscal year.

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.