Hawk Ridge Capital Management LP Sells 423,729 Shares of Atlanta Braves Holdings, Inc. $BATRK

Hawk Ridge Capital Management LP cut its stake in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) by 15.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,237,700 shares of the financial services provider’s stock after selling 423,729 shares during the period. Atlanta Braves accounts for about 3.5% of Hawk Ridge Capital Management LP’s investment portfolio, making the stock its 11th biggest holding. Hawk Ridge Capital Management LP’s holdings in Atlanta Braves were worth $95,550,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of BATRK. Comerica Bank increased its position in shares of Atlanta Braves by 44.8% during the 1st quarter. Comerica Bank now owns 1,031 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 319 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of Atlanta Braves in the 1st quarter valued at approximately $382,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Atlanta Braves by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,839 shares of the financial services provider’s stock valued at $1,194,000 after buying an additional 1,302 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Atlanta Braves by 12,972.7% in the 1st quarter. Jones Financial Companies Lllp now owns 18,694 shares of the financial services provider’s stock valued at $748,000 after buying an additional 18,551 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Atlanta Braves by 8.8% during the first quarter. Goldman Sachs Group Inc. now owns 269,383 shares of the financial services provider’s stock worth $10,778,000 after buying an additional 21,883 shares during the last quarter. 64.88% of the stock is currently owned by institutional investors.

Atlanta Braves Price Performance

Shares of BATRK opened at $50.74 on Tuesday. The firm has a market capitalization of $2.68 billion, a PE ratio of -140.94 and a beta of 0.68. The company’s 50-day moving average is $50.82 and its 200-day moving average is $46.24. Atlanta Braves Holdings, Inc. has a fifty-two week low of $37.76 and a fifty-two week high of $53.25.

Atlanta Braves (NASDAQ:BATRK) last announced its earnings results on Monday, May 11th. The financial services provider reported ($0.63) EPS for the quarter, topping the consensus estimate of ($0.83) by $0.20. The company had revenue of $72.01 million for the quarter, compared to the consensus estimate of $64.60 million. Analysts predict that Atlanta Braves Holdings, Inc. will post -0.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BATRK has been the topic of several analyst reports. Morgan Stanley lowered shares of Atlanta Braves from an “overweight” rating to an “equal weight” rating and set a $54.00 price target on the stock. in a research report on Wednesday, July 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Atlanta Braves in a research report on Wednesday, June 24th. Wall Street Zen upgraded shares of Atlanta Braves from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Rosenblatt Securities upped their target price on shares of Atlanta Braves from $69.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Finally, Zacks Research downgraded shares of Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. 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 company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $64.50.

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.