VELA Investment Management LLC Buys 10,507 Shares of Atlanta Braves Holdings, Inc. $BATRK

VELA Investment Management LLC boosted its stake in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) by 13.5% in the fourth quarter, HoldingsChannel reports. The firm owned 88,467 shares of the financial services provider’s stock after acquiring an additional 10,507 shares during the period. VELA Investment Management LLC’s holdings in Atlanta Braves were worth $3,490,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in BATRK. Comerica Bank grew its position in Atlanta Braves by 44.8% in 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. AQR Capital Management LLC bought a new stake in shares of Atlanta Braves during the 1st quarter valued at $382,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Atlanta Braves by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,839 shares of the financial services provider’s stock valued at $1,194,000 after acquiring an additional 1,302 shares during the period. Jones Financial Companies Lllp grew its position in shares of Atlanta Braves by 12,972.7% during the 1st quarter. Jones Financial Companies Lllp now owns 18,694 shares of the financial services provider’s stock valued at $748,000 after acquiring an additional 18,551 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in shares of Atlanta Braves by 8.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 269,383 shares of the financial services provider’s stock valued at $10,778,000 after acquiring an additional 21,883 shares during the period. Institutional investors own 64.88% of the company’s stock.

Wall Street Analysts Forecast Growth

BATRK has been the subject of a number of recent research reports. Zacks Research downgraded shares of Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. 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 report on Thursday, April 2nd. Wall Street Zen downgraded shares of Atlanta Braves from a “hold” rating to a “sell” rating in a research report on Sunday, April 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Atlanta Braves in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Atlanta Braves presently has a consensus rating of “Hold” and an average target price of $60.00.

Insider Buying and Selling

In related news, major shareholder John C. Malone purchased 35,000 shares of the firm’s stock in a transaction on Thursday, February 5th. The shares were acquired at an average price of $44.23 per share, for a total transaction of $1,548,050.00. Following the purchase, the insider directly owned 521,862 shares in the company, valued at $23,081,956.26. This trade represents a 7.19% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 11.43% of the stock is currently owned by insiders.

Atlanta Braves Stock Up 1.3%

Shares of BATRK stock opened at $50.07 on Friday. The stock has a market cap of $2.63 billion, a P/E ratio of -128.38 and a beta of 0.73. Atlanta Braves Holdings, Inc. has a 52 week low of $37.76 and a 52 week high of $50.42. The company’s fifty day simple moving average is $44.50 and its two-hundred day simple moving average is $41.40.

Atlanta Braves (NASDAQ:BATRK) last announced its quarterly earnings results on Wednesday, February 25th. The financial services provider reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.66) by $0.38. The company had revenue of $61.30 million during the quarter, compared to analysts’ expectations of $54.93 million. On average, analysts anticipate that Atlanta Braves Holdings, Inc. will post 0.09 EPS for the current fiscal year.

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.