Southpoint Capital Advisors LP Has $38.43 Million Stake in Atlanta Braves Holdings, Inc. $BATRK

Southpoint Capital Advisors LP increased its position in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) by 28.6% in the 1st quarter, Holdings Channel reports. The firm owned 900,000 shares of the financial services provider’s stock after buying an additional 200,000 shares during the quarter. Southpoint Capital Advisors LP’s holdings in Atlanta Braves were worth $38,430,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of BATRK. Comerica Bank increased its holdings in Atlanta Braves by 44.8% in the 1st quarter. Comerica Bank now owns 1,031 shares of the financial services provider’s stock valued at $41,000 after buying an additional 319 shares during the period. AQR Capital Management LLC acquired a new position in shares of Atlanta Braves in the 1st quarter valued at $382,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings 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 worth $1,194,000 after acquiring an additional 1,302 shares during the period. Jones Financial Companies Lllp lifted its holdings 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 worth $748,000 after acquiring an additional 18,551 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings 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 worth $10,778,000 after acquiring an additional 21,883 shares during the period. 64.88% of the stock is owned by institutional investors.

Atlanta Braves Stock Up 0.9%

Shares of BATRK stock opened at $50.74 on Tuesday. The company has a market capitalization of $2.68 billion, a P/E ratio of -140.94 and a beta of 0.68. Atlanta Braves Holdings, Inc. has a 12-month low of $37.76 and a 12-month high of $53.25. The firm has a 50-day moving average price of $50.82 and a 200 day moving average price of $46.24.

Atlanta Braves (NASDAQ:BATRK) last released its quarterly earnings results on Monday, May 11th. The financial services provider reported ($0.63) EPS for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.20. The business had revenue of $72.01 million for the quarter, compared to the consensus estimate of $64.60 million. As a group, research analysts expect that Atlanta Braves Holdings, Inc. will post -0.06 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BATRK. Morgan Stanley lowered shares of Atlanta Braves from an “overweight” rating to an “equal weight” rating and set a $54.00 target price on the stock. in a research report on Wednesday, July 15th. Rosenblatt Securities raised their price target on shares of Atlanta Braves from $69.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. Wall Street Zen upgraded shares of Atlanta Braves from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Zacks Research downgraded Atlanta Braves from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Atlanta Braves in a research note on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Atlanta Braves presently has a consensus rating of “Hold” and a consensus price target of $64.50.

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.