HBK Investments L P Sells 12,597 Shares of Atlanta Braves Holdings, Inc. $BATRK

HBK Investments L P cut its holdings in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) by 6.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 185,872 shares of the financial services provider’s stock after selling 12,597 shares during the quarter. HBK Investments L P’s holdings in Atlanta Braves were worth $9,647,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Global Trust Asset Management LLC bought a new position in Atlanta Braves during the first quarter valued at $26,000. Fifth Third Bancorp purchased a new position in shares of Atlanta Braves in the 1st quarter worth $35,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of Atlanta Braves in the 4th quarter worth about $97,000. PNC Financial Services Group Inc. increased its holdings in shares of Atlanta Braves by 22.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,575 shares of the financial services provider’s stock worth $153,000 after buying an additional 662 shares during the last quarter. Finally, Parallel Advisors LLC increased its holdings in shares of Atlanta Braves by 46.7% in the 1st quarter. Parallel Advisors LLC now owns 3,824 shares of the financial services provider’s stock worth $163,000 after buying an additional 1,217 shares during the last quarter. 64.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BATRK. Morgan Stanley downgraded shares of Atlanta Braves from an “overweight” rating to an “equal weight” rating and set a $54.00 price target for the company. in a report on Wednesday, July 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Atlanta Braves in a research report on Wednesday, June 24th. Rosenblatt Securities reduced their price objective on Atlanta Braves from $75.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Finally, Wall Street Zen downgraded Atlanta Braves from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Atlanta Braves presently has an average rating of “Hold” and an average price target of $63.50.

Atlanta Braves Stock Down 0.0%

BATRK traded down $0.02 during trading on Wednesday, reaching $50.68. The company had a trading volume of 472,842 shares, compared to its average volume of 440,633. The business has a 50 day simple moving average of $51.13 and a 200-day simple moving average of $48.86. The stock has a market cap of $2.68 billion, a P/E ratio of -50.18 and a beta of 0.67. Atlanta Braves Holdings, Inc. has a 52 week low of $37.76 and a 52 week high of $54.46.

Atlanta Braves (NASDAQ:BATRK) last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.50). The business had revenue of $305.12 million for the quarter, compared to analyst estimates of $319.00 million. As a group, equities research analysts expect that Atlanta Braves Holdings, Inc. will post -0.44 EPS for the current fiscal year.

Atlanta Braves Company Profile

Atlanta Braves Holdings, Inc owns and operates the Atlanta Braves, a Major League Baseball franchise based in Atlanta, Georgia. The company’s principal business activities include professional baseball operations, ticket sales, premium seating, sponsorships, broadcasting and media rights, concessions, retail merchandise, and other fan-related services.

The company also owns and operates The Battery Atlanta, a mixed-use development adjacent to Truist Park. The Battery Atlanta includes restaurants, retail stores, office space, residential properties, entertainment venues, hotels and event facilities, providing additional revenue opportunities beyond baseball.

The Braves franchise traces its history to 1871 and has previously been based in Boston and Milwaukee before relocating to Atlanta in 1966.