John Malone Acquires 3,669 Shares of Atlanta Braves (NASDAQ:BATRK) Stock

Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) major shareholder John Malone purchased 3,669 shares of the stock in a transaction on Wednesday, February 4th. The shares were bought at an average price of $48.17 per share, for a total transaction of $176,735.73. Following the acquisition, the insider owned 3,669 shares of the company’s stock, valued at approximately $176,735.73. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Atlanta Braves Stock Down 0.5%

Shares of NASDAQ:BATRK traded down $0.19 during trading on Friday, reaching $39.13. The stock had a trading volume of 348,884 shares, compared to its average volume of 380,470. The stock has a fifty day simple moving average of $39.59 and a two-hundred day simple moving average of $41.04. Atlanta Braves Holdings, Inc. has a 52 week low of $35.46 and a 52 week high of $47.18. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of -978.01 and a beta of 0.61.

Atlanta Braves (NASDAQ:BATRK) last released its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.23. The firm had revenue of $311.54 million for the quarter, compared to the consensus estimate of $309.06 million. On average, analysts forecast that Atlanta Braves Holdings, Inc. will post -0.89 EPS for the current year.

Institutional Trading of Atlanta Braves

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Redmont Wealth Advisors LLC lifted its stake in Atlanta Braves by 7.3% during the fourth quarter. Redmont Wealth Advisors LLC now owns 14,558 shares of the financial services provider’s stock worth $574,000 after purchasing an additional 990 shares during the period. ProShare Advisors LLC raised its holdings in shares of Atlanta Braves by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 8,441 shares of the financial services provider’s stock worth $333,000 after buying an additional 544 shares in the last quarter. Oak Family Advisors LLC lifted its position in shares of Atlanta Braves by 1.7% during the 4th quarter. Oak Family Advisors LLC now owns 103,060 shares of the financial services provider’s stock worth $4,066,000 after buying an additional 1,709 shares during the period. VELA Investment Management LLC boosted its stake in Atlanta Braves by 13.5% in the 4th quarter. VELA Investment Management LLC now owns 88,467 shares of the financial services provider’s stock valued at $3,490,000 after buying an additional 10,507 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its stake in Atlanta Braves by 16.8% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 56,685 shares of the financial services provider’s stock valued at $2,236,000 after buying an additional 8,133 shares in the last quarter. Institutional investors own 64.88% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Rosenblatt Securities reiterated a “buy” rating and set a $69.00 price target on shares of Atlanta Braves in a report on Tuesday, December 2nd. Zacks Research downgraded shares of Atlanta Braves from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Atlanta Braves in a research note on Monday, December 29th. Finally, Wall Street Zen upgraded Atlanta Braves from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $57.00.

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.