Atlanta Braves Holdings, Inc. $BATRK Shares Sold by Cinctive Capital Management LP

Cinctive Capital Management LP cut its stake in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) by 37.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 116,568 shares of the financial services provider’s stock after selling 69,055 shares during the quarter. Cinctive Capital Management LP owned 0.23% of Atlanta Braves worth $4,848,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Quent Capital LLC acquired a new stake in shares of Atlanta Braves during the third quarter worth $28,000. EverSource Wealth Advisors LLC boosted 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 valued at $33,000 after purchasing an additional 631 shares during the period. First Horizon Corp purchased a new position in Atlanta Braves in the 3rd quarter worth about $30,000. Farther Finance Advisors LLC increased its stake in 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 in the last quarter. Finally, Jones Financial Companies Lllp raised 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 period. 64.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Activity at Atlanta Braves

In related news, major shareholder John C. Malone acquired 35,000 shares of the stock in a transaction that occurred on Thursday, February 5th. The shares were purchased 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 owned 521,862 shares of the company’s stock, valued at approximately $23,081,956.26. This trade represents a 7.19% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Atlanta Braves Trading Up 0.4%

Shares of Atlanta Braves stock opened at $43.09 on Monday. The stock has a 50-day moving average price of $41.38 and a 200 day moving average price of $40.64. The company has a market cap of $2.27 billion, a P/E ratio of -110.48 and a beta of 0.54. Atlanta Braves Holdings, Inc. has a 1 year low of $35.46 and a 1 year high of $47.18.

Atlanta Braves (NASDAQ:BATRK) last released its earnings results on Wednesday, February 25th. The financial services provider reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.66) by $0.38. The business had revenue of $61.30 million for the quarter, compared to analysts’ expectations of $54.93 million. On average, equities analysts forecast that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current fiscal year.

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.