Insider Buying: Atlanta Braves (NASDAQ:BATRK) Major Shareholder Purchases $1,548,050.00 in Stock

Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) major shareholder John Malone purchased 35,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The shares were acquired at an average cost of $44.23 per share, for a total transaction of $1,548,050.00. Following the purchase, the insider owned 521,862 shares of the company’s stock, valued at $23,081,956.26. This represents a 7.19% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Atlanta Braves Stock Down 0.5%

Shares of NASDAQ:BATRK opened at $39.13 on Monday. The firm has a fifty day simple moving average of $39.58 and a two-hundred day simple 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. The stock has a market capitalization of $2.02 billion, a P/E ratio of -978.01 and a beta of 0.61.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Atlanta Braves

A number of institutional investors and hedge funds have recently modified their holdings of BATRK. Quent Capital LLC bought a new position in Atlanta Braves in the 3rd quarter valued at $28,000. First Horizon Corp bought a new stake in shares of Atlanta Braves during the third quarter worth $30,000. Farther Finance Advisors LLC boosted its stake in shares of Atlanta Braves by 701.1% during the third quarter. Farther Finance Advisors LLC now owns 761 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 666 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of Atlanta Braves by 218.3% in the third quarter. Jones Financial Companies Lllp now owns 799 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 548 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Atlanta Braves by 956.1% in the second quarter. EverSource Wealth Advisors LLC now owns 697 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 631 shares during the last quarter. 64.88% of the stock is owned by institutional investors.

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.