Rhumbline Advisers Purchases 848 Shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRA)

Rhumbline Advisers raised its position in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRA) by 5.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,228 shares of the financial services provider’s stock after purchasing an additional 848 shares during the quarter. Rhumbline Advisers’ holdings in Atlanta Braves were worth $756,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in BATRA. GAMMA Investing LLC grew its stake in shares of Atlanta Braves by 5,387.2% during the 1st quarter. GAMMA Investing LLC now owns 52,951 shares of the financial services provider’s stock valued at $23,230,000 after purchasing an additional 51,986 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Atlanta Braves during the 4th quarter valued at about $901,000. Gamco Investors INC. ET AL grew its stake in shares of Atlanta Braves by 1.0% during the 4th quarter. Gamco Investors INC. ET AL now owns 2,261,191 shares of the financial services provider’s stock valued at $92,257,000 after acquiring an additional 21,955 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Atlanta Braves by 69.0% during the 4th quarter. JPMorgan Chase & Co. now owns 49,972 shares of the financial services provider’s stock valued at $2,039,000 after acquiring an additional 20,399 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of Atlanta Braves by 7.7% during the 4th quarter. Renaissance Technologies LLC now owns 284,200 shares of the financial services provider’s stock valued at $11,595,000 after acquiring an additional 20,200 shares during the period. 12.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BATRA has been the subject of a number of recent research reports. Benchmark reiterated a “buy” rating and set a $60.00 price objective on shares of Atlanta Braves in a research note on Thursday, February 27th. Citigroup initiated coverage on Atlanta Braves in a research note on Friday, June 13th. They set a “neutral” rating and a $45.00 price objective for the company.

Insider Buying and Selling

In other news, EVP Michael P. Plant sold 69,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $43.00, for a total transaction of $2,967,000.00. Following the sale, the executive vice president now directly owns 205,593 shares of the company’s stock, valued at $8,840,499. This represents a 25.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Mario J. Gabelli acquired 1,549 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The shares were purchased at an average cost of $43.45 per share, for a total transaction of $67,304.05. Following the completion of the acquisition, the insider now directly owns 27,152 shares in the company, valued at approximately $1,179,754.40. This represents a 6.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 121,872 shares of company stock valued at $5,043,730 and have sold 147,272 shares valued at $6,322,139. 4.83% of the stock is owned by insiders.

Atlanta Braves Trading Up 5.9%

Shares of NASDAQ:BATRA opened at $49.07 on Friday. The stock has a 50 day moving average of $43.97 and a 200 day moving average of $42.76. The company has a market cap of $3.04 billion, a PE ratio of -140.20 and a beta of 0.57. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.40. Atlanta Braves Holdings, Inc. has a 12-month low of $38.67 and a 12-month high of $49.47.

Atlanta Braves (NASDAQ:BATRA) last posted its quarterly earnings results on Monday, May 12th. The financial services provider reported ($0.66) EPS for the quarter, topping analysts’ consensus estimates of ($0.94) by $0.28. Atlanta Braves had a negative return on equity of 4.07% and a negative net margin of 3.18%. The company had revenue of $47.21 million for the quarter, compared to analysts’ expectations of $36.87 million. As a group, equities research analysts expect that Atlanta Braves Holdings, Inc. will post -0.98 EPS for the current year.

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.