Harbor Capital Advisors Inc. Has $2.86 Million Position in Atlanta Braves Holdings, Inc. $BATRK

Harbor Capital Advisors Inc. lessened its stake in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) by 69.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 68,752 shares of the financial services provider’s stock after selling 157,149 shares during the period. Harbor Capital Advisors Inc. owned about 0.11% of Atlanta Braves worth $2,859,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Aristeia Capital L.L.C. lifted its position in shares of Atlanta Braves by 2.3% in the 1st quarter. Aristeia Capital L.L.C. now owns 2,470,052 shares of the financial services provider’s stock worth $98,827,000 after acquiring an additional 55,690 shares during the period. Broad Bay Capital Management LP lifted its position in Atlanta Braves by 24.3% in the first quarter. Broad Bay Capital Management LP now owns 1,732,882 shares of the financial services provider’s stock worth $69,333,000 after purchasing an additional 338,655 shares during the period. Gamco Investors INC. ET AL boosted its stake in Atlanta Braves by 1.2% during the second quarter. Gamco Investors INC. ET AL now owns 1,452,088 shares of the financial services provider’s stock worth $67,914,000 after buying an additional 16,663 shares in the last quarter. Southpoint Capital Advisors LP increased its holdings in Atlanta Braves by 6.7% in the 1st quarter. Southpoint Capital Advisors LP now owns 800,000 shares of the financial services provider’s stock valued at $32,008,000 after buying an additional 50,000 shares during the period. Finally, Harvey Partners LLC raised its stake in shares of Atlanta Braves by 7.3% in the 2nd quarter. Harvey Partners LLC now owns 709,386 shares of the financial services provider’s stock valued at $33,178,000 after buying an additional 48,386 shares in the last quarter. 64.88% of the stock is currently owned by institutional investors.

Insider Activity at Atlanta Braves

In other Atlanta Braves news, major shareholder John C. Malone bought 4,631 shares of the stock in a transaction dated Tuesday, November 18th. The stock was bought at an average cost of $41.99 per share, for a total transaction of $194,455.69. Following the completion of the purchase, the insider owned 484,603 shares in the company, valued at $20,348,479.97. This represents a 0.96% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired a total of 67,236 shares of company stock worth $2,822,097 in the last quarter. 11.43% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Zacks Research lowered shares of Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Atlanta Braves in a report on Monday. Rosenblatt Securities reiterated a “buy” rating and issued a $69.00 price objective on shares of Atlanta Braves in a research note on Tuesday, December 2nd. Finally, Wall Street Zen upgraded Atlanta Braves from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $57.00.

Atlanta Braves Trading Up 0.4%

Shares of Atlanta Braves stock opened at $39.43 on Thursday. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of -985.38 and a beta of 0.62. The firm’s 50-day moving average price is $39.29 and its two-hundred day moving average price is $42.24. 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 earnings results on Wednesday, November 5th. The financial services provider reported $0.47 EPS for the quarter, topping the consensus estimate of $0.24 by $0.23. The business had revenue of $311.54 million during the quarter, compared to analyst estimates of $309.06 million. As a group, equities research analysts predict that Atlanta Braves Holdings, Inc. will post -0.89 EPS for the current year.

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.