Atlanta Braves Holdings, Inc. $BATRA Position Lessened by Geode Capital Management LLC

Geode Capital Management LLC lowered its stake in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRA) by 27.0% in the second quarter, HoldingsChannel reports. The firm owned 198,170 shares of the financial services provider’s stock after selling 73,134 shares during the quarter. Geode Capital Management LLC’s holdings in Atlanta Braves were worth $9,754,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted its stake in Atlanta Braves by 9.8% in the second quarter. PNC Financial Services Group Inc. now owns 2,507 shares of the financial services provider’s stock valued at $123,000 after buying an additional 224 shares during the last quarter. Wedbush Securities Inc. acquired a new stake in shares of Atlanta Braves in the 2nd quarter worth about $208,000. Levin Capital Strategies L.P. increased its holdings in shares of Atlanta Braves by 266.7% in the 2nd quarter. Levin Capital Strategies L.P. now owns 27,500 shares of the financial services provider’s stock worth $1,353,000 after acquiring an additional 20,000 shares during the period. Nisa Investment Advisors LLC lifted its position in Atlanta Braves by 48.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,007 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 329 shares during the last quarter. Finally, Aurora Investment Counsel boosted its stake in Atlanta Braves by 1.3% during the 2nd quarter. Aurora Investment Counsel now owns 45,672 shares of the financial services provider’s stock valued at $2,248,000 after purchasing an additional 581 shares during the period. 12.31% of the stock is owned by institutional investors and hedge funds.

Atlanta Braves Stock Performance

BATRA stock opened at $42.52 on Friday. The company has a 50-day simple moving average of $43.15 and a 200 day simple moving average of $45.51. The company has a market capitalization of $2.68 billion, a P/E ratio of -1,062.73 and a beta of 0.62. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.32. Atlanta Braves Holdings, Inc. has a fifty-two week low of $38.67 and a fifty-two week high of $50.50.

Atlanta Braves (NASDAQ:BATRA) last released its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.23. The company had revenue of $311.54 million for the quarter, compared to the consensus estimate of $309.06 million. Atlanta Braves had a negative net margin of 0.14% and a negative return on equity of 0.19%. Sell-side analysts predict that Atlanta Braves Holdings, Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder John C. Malone acquired 4,631 shares of the company’s stock in a transaction dated Tuesday, November 18th. The shares were bought at an average price of $41.99 per share, with a total value of $194,455.69. Following the purchase, the insider owned 484,603 shares of the company’s stock, valued at approximately $20,348,479.97. This represents a 0.96% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Gamco Investors, Inc. Et Al sold 800 shares of the company’s stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $45.41, for a total value of $36,328.00. Following the completion of the sale, the insider owned 1,000 shares of the company’s stock, valued at approximately $45,410. This trade represents a 44.44% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders acquired 38,669 shares of company stock valued at $1,623,140 and sold 3,700 shares valued at $167,859. Corporate insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Atlanta Braves in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $52.50.

About Atlanta Braves

Atlanta Braves Holdings, Inc owns and operates the Atlanta Braves Major league baseball club. It also operates mixed-use development project, including retail, office, hotel, and entertainment projects. The company was incorporated in 2022 and is based in Englewood, Colorado.