Redmont Wealth Advisors LLC Makes New Investment in Atlanta Braves Holdings, Inc. $BATRK

Redmont Wealth Advisors LLC acquired a new stake in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 13,568 shares of the financial services provider’s stock, valued at approximately $564,000.

Other large investors have also recently made changes to their positions in the company. Advisors Capital Management LLC lifted its position in shares of Atlanta Braves by 8.2% in the third quarter. Advisors Capital Management LLC now owns 98,551 shares of the financial services provider’s stock worth $4,099,000 after buying an additional 7,428 shares in the last quarter. Vanguard Group Inc. grew its holdings in Atlanta Braves by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 2,472,019 shares of the financial services provider’s stock valued at $102,811,000 after buying an additional 23,694 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Atlanta Braves by 46.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 204,929 shares of the financial services provider’s stock worth $8,523,000 after acquiring an additional 64,968 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in shares of Atlanta Braves by 5.1% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 48,552 shares of the financial services provider’s stock worth $2,019,000 after acquiring an additional 2,367 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Atlanta Braves by 4.6% during the 3rd quarter. Rhumbline Advisers now owns 71,988 shares of the financial services provider’s stock worth $2,994,000 after acquiring an additional 3,191 shares in the last quarter. 64.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

BATRK has been the subject of a number of recent research reports. Rosenblatt Securities reissued a “buy” rating and issued a $69.00 target price on shares of Atlanta Braves in a report on Tuesday, December 2nd. Wall Street Zen upgraded shares of Atlanta Braves from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Zacks Research downgraded shares of Atlanta Braves from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Atlanta Braves in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Atlanta Braves currently has a consensus rating of “Hold” and a consensus price target of $57.00.

Insider Activity at Atlanta Braves

In other news, major shareholder John C. Malone purchased 35,000 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The shares were bought at an average cost of $44.23 per share, for a total transaction of $1,548,050.00. Following the acquisition, the insider owned 521,862 shares of the company’s stock, valued at approximately $23,081,956.26. This trade represents a 7.19% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 11.43% of the company’s stock.

Atlanta Braves Stock Up 0.3%

NASDAQ BATRK opened at $43.44 on Thursday. 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 $2.24 billion, a price-to-earnings ratio of -1,085.73 and a beta of 0.61. The company has a fifty day moving average of $40.09 and a two-hundred day moving average of $40.77.

Atlanta Braves 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.