Northern Trust Corp Cuts Stock Position in Atlanta Braves Holdings, Inc. $BATRK

Northern Trust Corp lessened its stake in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) by 3.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 462,828 shares of the financial services provider’s stock after selling 17,678 shares during the quarter. Northern Trust Corp owned about 0.90% of Atlanta Braves worth $18,518,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. CWM LLC raised its stake in shares of Atlanta Braves by 56.4% during the first quarter. CWM LLC now owns 824 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 297 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of Atlanta Braves during the first quarter worth approximately $60,000. Versant Capital Management Inc raised 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 worth $73,000 after purchasing an additional 1,400 shares during the last quarter. KBC Group NV purchased a new stake in shares of Atlanta Braves during the first quarter worth approximately $94,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Atlanta Braves by 33.4% during the first quarter. PNC Financial Services Group Inc. now owns 3,021 shares of the financial services provider’s stock worth $121,000 after purchasing an additional 756 shares during the last quarter. Hedge funds and other institutional investors own 64.88% of the company’s stock.

Atlanta Braves Price Performance

Shares of BATRK stock opened at $44.98 on Tuesday. The business’s fifty day moving average price is $45.41 and its 200 day moving average price is $41.95. Atlanta Braves Holdings, Inc. has a 1-year low of $35.46 and a 1-year high of $47.18. The firm has a market capitalization of $2.82 billion, a PE ratio of -128.51 and a beta of 0.67.

Atlanta Braves (NASDAQ:BATRK) last posted its earnings results on Thursday, August 7th. The financial services provider reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.18). The business had revenue of $312.44 million during the quarter, compared to the consensus estimate of $296.36 million. Equities research analysts expect that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BATRK has been the topic of a number of recent analyst reports. Rosenblatt Securities upped their price objective on Atlanta Braves from $52.00 to $69.00 and gave the stock a “buy” rating in a report on Friday, June 20th. Wall Street Zen raised Atlanta Braves from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Finally, Citigroup raised Atlanta Braves to a “hold” rating and set a $45.00 price objective on the stock in a report on Friday, June 13th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $57.00.

Insider Buying and Selling at Atlanta Braves

In other Atlanta Braves news, EVP Derek Gordon Schiller sold 30,000 shares of the company’s 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 of the company’s stock, valued at approximately $13,660,601.50. This represents a 9.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael P. Plant sold 69,000 shares of the company’s stock in a transaction on Wednesday, June 11th. The shares were 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 trade represents a 25.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold 211,605 shares of company stock worth $9,214,527 in the last three months.

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.