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

VELA Investment Management LLC increased its holdings in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) by 13.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,467 shares of the financial services provider’s stock after purchasing an additional 10,507 shares during the quarter. VELA Investment Management LLC owned approximately 0.17% of Atlanta Braves worth $3,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of BATRK. Quent Capital LLC purchased a new stake in Atlanta Braves in the third quarter worth about $28,000. EverSource Wealth Advisors LLC lifted its holdings in Atlanta Braves by 956.1% in the second quarter. EverSource Wealth Advisors LLC now owns 697 shares of the financial services provider’s stock worth $33,000 after buying an additional 631 shares during the period. First Horizon Corp purchased a new stake in Atlanta Braves in the third quarter worth about $30,000. Farther Finance Advisors LLC lifted its holdings in Atlanta Braves by 701.1% in the third quarter. Farther Finance Advisors LLC now owns 761 shares of the financial services provider’s stock worth $32,000 after buying an additional 666 shares during the period. Finally, Jones Financial Companies Lllp lifted its holdings in Atlanta Braves by 218.3% in the third quarter. Jones Financial Companies Lllp now owns 799 shares of the financial services provider’s stock worth $33,000 after buying an additional 548 shares during the period. 64.88% of the stock is owned by institutional investors.

Atlanta Braves Stock Up 1.3%

Shares of NASDAQ BATRK opened at $50.07 on Friday. Atlanta Braves Holdings, Inc. has a twelve month low of $37.76 and a twelve month high of $50.42. The firm has a market cap of $2.63 billion, a P/E ratio of -128.38 and a beta of 0.73. The company has a 50 day moving average of $44.50 and a 200 day moving average of $41.40.

Atlanta Braves (NASDAQ:BATRK) last announced its quarterly earnings data on Wednesday, February 25th. The financial services provider reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.38. The firm had revenue of $61.30 million during the quarter, compared to analysts’ expectations of $54.93 million. As a group, equities analysts expect that Atlanta Braves Holdings, Inc. will post 0.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder John C. Malone bought 35,000 shares of the business’s stock in a transaction on Thursday, February 5th. The stock was acquired at an average price of $44.23 per share, with a total value of $1,548,050.00. Following the transaction, the insider owned 521,862 shares in the company, valued at approximately $23,081,956.26. This trade represents a 7.19% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 11.43% of the company’s stock.

Analysts Set New Price Targets

BATRK has been the subject of several research analyst reports. Wall Street Zen lowered shares of Atlanta Braves from a “hold” rating to a “sell” rating in a report on Sunday, April 12th. Rosenblatt Securities raised their price objective on shares of Atlanta Braves from $69.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Zacks Research lowered shares of Atlanta Braves from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Atlanta Braves in a report on Friday, March 27th. One investment 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. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $60.00.

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.