Insider Buying: Atlanta Braves (NASDAQ:BATRK) Major Shareholder Acquires $176,735.73 in Stock

Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) major shareholder John Malone bought 3,669 shares of the company’s stock in a transaction on Wednesday, February 4th. The shares were acquired at an average cost of $48.17 per share, for a total transaction of $176,735.73. Following the completion of the acquisition, the insider directly owned 3,669 shares of the company’s stock, valued at $176,735.73. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Atlanta Braves Stock Down 0.5%

Shares of BATRK stock opened at $39.13 on Monday. The company has a market cap of $2.02 billion, a P/E ratio of -978.01 and a beta of 0.61. The business has a 50 day moving average of $39.58 and a two-hundred day moving average of $40.91. Atlanta Braves Holdings, Inc. has a 52 week low of $35.46 and a 52 week high of $47.18.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Dendur Capital LP acquired a new position in shares of Atlanta Braves during the 2nd quarter worth about $20,111,000. Qube Research & Technologies Ltd grew its stake in shares of Atlanta Braves by 504.1% in the 3rd quarter. Qube Research & Technologies Ltd now owns 436,158 shares of the financial services provider’s stock valued at $18,140,000 after purchasing an additional 363,953 shares during the period. Vanguard Group Inc. raised its stake in Atlanta Braves by 12.8% during the fourth quarter. Vanguard Group Inc. now owns 2,789,084 shares of the financial services provider’s stock worth $110,029,000 after acquiring an additional 317,065 shares in the last quarter. Invesco Ltd. increased its position in shares of Atlanta Braves by 406.3% during the 3rd quarter. Invesco Ltd. now owns 261,754 shares of the financial services provider’s stock worth $10,886,000 after purchasing an additional 210,051 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Atlanta Braves by 68.1% during the third quarter. Millennium Management LLC now owns 494,905 shares of the financial services provider’s stock worth $20,583,000 after buying an additional 200,555 shares in the last quarter. Institutional investors and hedge funds own 64.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on BATRK shares. Wall Street Zen raised shares of Atlanta Braves from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Atlanta Braves in a research report on Monday, December 29th. Rosenblatt Securities reissued a “buy” rating and set a $69.00 price target on shares of Atlanta Braves in a research report on Tuesday, December 2nd. Finally, Zacks Research lowered shares of Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $57.00.

About Atlanta Braves

The Atlanta Braves Real Estate Ownership Trust (NASDAQ:BATRK) is a publicly traded real estate investment trust established in 2021 by Liberty Braves Group. The trust’s primary purpose is to own and manage a portfolio of sports and entertainment properties related to the Atlanta Braves baseball franchise. BATRK generates stable rental income by leasing its assets to the Braves Baseball Club, LLC, under long-term lease agreements designed to align property performance with franchise needs.

The trust’s portfolio is anchored by Truist Park, the 41,084-seat baseball stadium that has served as the Braves’ home since 2017.