Atlanta Braves (NASDAQ:BATRK) Major Shareholder John Malone Acquires 35,000 Shares of Stock

Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) major shareholder John Malone bought 35,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The stock was bought at an average price of $44.23 per share, with a total value of $1,548,050.00. Following the completion of the acquisition, the insider owned 521,862 shares of the company’s stock, valued at $23,081,956.26. This trade represents a 7.19% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Atlanta Braves Price Performance

Shares of NASDAQ BATRK opened at $39.13 on Friday. The company has a market cap of $2.02 billion, a price-to-earnings ratio of -978.01 and a beta of 0.61. The stock’s 50-day moving average is $39.58 and its two-hundred day moving average is $40.99. Atlanta Braves Holdings, Inc. has a 1-year low of $35.46 and a 1-year high of $47.18.

Atlanta Braves (NASDAQ:BATRK) last announced its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.23. The company had revenue of $311.54 million during the quarter, compared to analysts’ expectations of $309.06 million. Equities research analysts anticipate that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BATRK has been the topic of a number of recent analyst reports. Wall Street Zen raised 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 research note on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of Atlanta Braves in a research note on Monday, December 29th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $69.00 price target on shares of Atlanta Braves in a report on Tuesday, December 2nd. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Atlanta Braves has a consensus rating of “Hold” and a consensus target price of $57.00.

Institutional Investors Weigh In On Atlanta Braves

Institutional investors and hedge funds have recently bought and sold shares of the stock. Elgethun Capital Management grew its holdings in shares of Atlanta Braves by 6.8% during the second quarter. Elgethun Capital Management now owns 145,531 shares of the financial services provider’s stock worth $6,806,000 after buying an additional 9,250 shares during the last quarter. Parthenon LLC raised its stake in Atlanta Braves by 83.1% during the 2nd quarter. Parthenon LLC now owns 158,295 shares of the financial services provider’s stock valued at $7,403,000 after acquiring an additional 71,855 shares during the last quarter. Harvey Partners LLC lifted its position in Atlanta Braves by 7.3% during the 2nd quarter. Harvey Partners LLC now owns 709,386 shares of the financial services provider’s stock worth $33,178,000 after acquiring an additional 48,386 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Atlanta Braves in the 2nd quarter valued at approximately $288,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Atlanta Braves in the 2nd quarter valued at approximately $3,273,000. 64.88% of the stock is owned by hedge funds and other institutional investors.

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.