Atlanta Braves Holdings, Inc. $BATRA Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its holdings in Atlanta Braves Holdings, Inc. (NASDAQ:BATRA) by 52.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,283 shares of the financial services provider’s stock after purchasing an additional 788 shares during the period. PNC Financial Services Group Inc.’s holdings in Atlanta Braves were worth $100,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Northern Trust Corp raised its position in shares of Atlanta Braves by 0.5% in the 4th quarter. Northern Trust Corp now owns 95,644 shares of the financial services provider’s stock valued at $3,902,000 after purchasing an additional 436 shares in the last quarter. Hudson Value Partners LLC bought a new stake in shares of Atlanta Braves in the 1st quarter valued at approximately $3,830,000. GAMMA Investing LLC increased its holdings in shares of Atlanta Braves by 5,387.2% in the 1st quarter. GAMMA Investing LLC now owns 52,951 shares of the financial services provider’s stock valued at $23,230,000 after acquiring an additional 51,986 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Atlanta Braves by 69.0% in 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 last quarter. Finally, Nuveen Asset Management LLC increased its holdings in shares of Atlanta Braves by 1.5% in the 4th quarter. Nuveen Asset Management LLC now owns 36,354 shares of the financial services provider’s stock valued at $1,483,000 after acquiring an additional 540 shares during the last quarter. 12.31% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Atlanta Braves news, EVP Derek Gordon Schiller sold 30,000 shares of the 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 directly owned 300,233 shares of the company’s stock, valued at $13,660,601.50. This trade represents a 9.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael P. Plant sold 69,000 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $43.00, for a total value of $2,967,000.00. Following the completion of the sale, the executive vice president directly owned 205,593 shares in the company, valued at $8,840,499. This represents a 25.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 211,605 shares of company stock valued at $9,214,527 over the last three months. Company insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Citigroup began coverage on Atlanta Braves in a report on Friday, June 13th. They issued a “neutral” rating and a $45.00 price target for the company. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $52.50.

Atlanta Braves Price Performance

Shares of NASDAQ BATRA opened at $46.55 on Wednesday. Atlanta Braves Holdings, Inc. has a 1-year low of $38.67 and a 1-year high of $50.50. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.64 and a quick ratio of 0.64. The business’s fifty day moving average price is $48.09 and its two-hundred day moving average price is $44.99. The firm has a market capitalization of $2.92 billion, a PE ratio of -133.00 and a beta of 0.68.

Atlanta Braves (NASDAQ:BATRA) last issued its earnings results on Thursday, August 7th. The financial services provider reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.12. Atlanta Braves had a negative return on equity of 3.98% and a negative net margin of 2.99%.The firm had revenue of $312.44 million for the quarter, compared to analyst estimates of $295.86 million. On average, research analysts expect that Atlanta Braves Holdings, Inc. will post -0.98 EPS for the current year.

Atlanta Braves Profile

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.