Atlanta Braves Holdings, Inc. $BATRK Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its holdings in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) by 46.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 204,929 shares of the financial services provider’s stock after buying an additional 64,968 shares during the period. JPMorgan Chase & Co. owned about 0.40% of Atlanta Braves worth $8,523,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quent Capital LLC purchased a new stake in shares of Atlanta Braves in the third quarter worth about $28,000. First Horizon Corp bought a new position in Atlanta Braves during the 3rd quarter valued at $30,000. Farther Finance Advisors LLC increased its position in shares of Atlanta Braves by 701.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 761 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 666 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in Atlanta Braves by 218.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 799 shares of the financial services provider’s stock worth $33,000 after buying an additional 548 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of Atlanta Braves by 956.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 697 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 631 shares in the last quarter. Institutional investors and hedge funds own 64.88% of the company’s stock.

Atlanta Braves Price Performance

Shares of Atlanta Braves stock opened at $41.53 on Monday. The stock’s fifty day moving average is $41.88 and its 200-day moving average is $40.58. The firm has a market capitalization of $2.19 billion, a PE ratio of -106.48 and a beta of 0.54. Atlanta Braves Holdings, Inc. has a 12-month low of $35.46 and a 12-month high of $47.18.

Atlanta Braves (NASDAQ:BATRK) last released its quarterly earnings results on Wednesday, February 25th. The financial services provider reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.38. The company had revenue of $61.30 million during the quarter, compared to analyst estimates of $54.93 million. Analysts expect that Atlanta Braves Holdings, Inc. will post -0.89 EPS for the current year.

Insider Activity at Atlanta Braves

In other news, major shareholder John C. Malone bought 35,000 shares of the company’s stock in a transaction dated Thursday, February 5th. The shares were acquired at an average cost of $44.23 per share, with a total value of $1,548,050.00. Following the completion of the transaction, the insider directly owned 521,862 shares in the company, valued at approximately $23,081,956.26. The trade was a 7.19% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Analyst Ratings Changes

A number of brokerages recently weighed in on BATRK. Zacks Research raised shares of Atlanta Braves from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Atlanta Braves in a research note on Monday, December 29th. Wall Street Zen cut shares of Atlanta Braves from a “hold” rating to a “sell” rating in a research report on Saturday, March 14th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $69.00 price target on shares of Atlanta Braves in a report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.00.

Atlanta Braves Profile

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.