Elgethun Capital Management Increases Position in Atlanta Braves Holdings, Inc. $BATRK

Elgethun Capital Management lifted its position in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) by 8.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 160,326 shares of the financial services provider’s stock after buying an additional 12,077 shares during the period. Atlanta Braves accounts for approximately 1.1% of Elgethun Capital Management’s portfolio, making the stock its 24th largest holding. Elgethun Capital Management owned approximately 0.31% of Atlanta Braves worth $6,325,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Atlanta Braves by 12.8% during the fourth quarter. Vanguard Group Inc. now owns 2,789,084 shares of the financial services provider’s stock worth $110,029,000 after purchasing an additional 317,065 shares during the period. Geode Capital Management LLC raised its stake in Atlanta Braves by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 1,086,388 shares of the financial services provider’s stock worth $42,864,000 after purchasing an additional 2,944 shares during the period. Harvey Partners LLC raised its stake in Atlanta Braves by 4.5% during the third quarter. Harvey Partners LLC now owns 741,500 shares of the financial services provider’s stock worth $30,839,000 after purchasing an additional 32,114 shares during the period. UBS Group AG raised its stake in Atlanta Braves by 14.5% during the fourth quarter. UBS Group AG now owns 557,102 shares of the financial services provider’s stock worth $21,978,000 after purchasing an additional 70,341 shares during the period. Finally, Millennium Management LLC raised its stake in Atlanta Braves by 68.1% during the third quarter. Millennium Management LLC now owns 494,905 shares of the financial services provider’s stock worth $20,583,000 after purchasing an additional 200,555 shares during the period. Hedge funds and other institutional investors own 64.88% of the company’s stock.

Atlanta Braves Price Performance

Shares of BATRK stock opened at $48.49 on Thursday. Atlanta Braves Holdings, Inc. has a 12 month low of $37.76 and a 12 month high of $52.05. The firm has a market capitalization of $2.56 billion, a P/E ratio of -134.69 and a beta of 0.71. The company’s fifty day moving average price is $47.49 and its two-hundred day moving average price is $43.03.

Atlanta Braves (NASDAQ:BATRK) last issued its quarterly earnings data 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 firm had revenue of $72.01 million during the quarter, compared to analyst estimates of $64.60 million. On average, sell-side analysts anticipate that Atlanta Braves Holdings, Inc. will post 0.02 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on BATRK shares. Rosenblatt Securities increased 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 raised shares of Atlanta Braves from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Atlanta Braves in a research note on Friday, March 27th. 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 equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $60.00.

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.