AE Wealth Management LLC Sells 491 Shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK)

AE Wealth Management LLC lessened its holdings in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) by 9.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,888 shares of the financial services provider’s stock after selling 491 shares during the quarter. AE Wealth Management LLC’s holdings in Atlanta Braves were worth $196,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of BATRK. CWM LLC grew its position in Atlanta Braves by 56.4% during the 1st quarter. CWM LLC now owns 824 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 297 shares during the last quarter. Federated Hermes Inc. bought a new position in Atlanta Braves in the fourth quarter valued at about $40,000. Versant Capital Management Inc boosted its stake in shares of Atlanta Braves by 335.7% during the first quarter. Versant Capital Management Inc now owns 1,817 shares of the financial services provider’s stock valued at $73,000 after purchasing an additional 1,400 shares in the last quarter. KBC Group NV bought a new stake in shares of Atlanta Braves during the first quarter worth about $94,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Atlanta Braves by 687.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,463 shares of the financial services provider’s stock valued at $132,000 after buying an additional 3,023 shares during the period. Institutional investors own 64.88% of the company’s stock.

Insider Activity

In related news, EVP Deretta C. Rhodes sold 5,000 shares of Atlanta Braves stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $41.20, for a total transaction of $206,000.00. Following the sale, the executive vice president directly owned 3,112 shares in the company, valued at approximately $128,214.40. This trade represents a 61.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Derek Gordon Schiller sold 30,000 shares of Atlanta Braves stock in a transaction on Friday, June 20th. The stock was sold at an average price of $45.50, for a total value of $1,365,000.00. Following the sale, the executive vice president owned 300,233 shares in the company, valued at $13,660,601.50. The trade was a 9.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 217,372 shares of company stock valued at $9,451,951. 11.43% of the stock is currently owned by company insiders.

Atlanta Braves Price Performance

BATRK stock opened at $44.54 on Friday. The company’s 50-day moving average is $44.45 and its 200-day moving average is $41.10. The stock has a market capitalization of $2.28 billion, a PE ratio of -127.25 and a beta of 0.67. 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 released its quarterly earnings data on Monday, May 12th. The financial services provider reported ($0.66) earnings per share for the quarter, topping the consensus estimate of ($0.94) by $0.28. The business had revenue of $47.21 million for the quarter, compared to analyst estimates of $36.87 million. On average, analysts anticipate that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Citigroup raised shares of Atlanta Braves to a “hold” rating and set a $45.00 price target for the company in a research note on Friday, June 13th. Wall Street Zen raised Atlanta Braves from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Finally, Rosenblatt Securities lifted their target price on Atlanta Braves from $52.00 to $69.00 and gave the stock a “buy” rating in a report on Friday, June 20th.

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.