Wellington Management Group LLP Has $44.70 Million Stock Position in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK)

Wellington Management Group LLP raised its stake in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) by 6.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,129,382 shares of the financial services provider’s stock after purchasing an additional 63,579 shares during the quarter. Wellington Management Group LLP owned 2.23% of Atlanta Braves worth $44,701,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Walleye Capital LLC acquired a new position in shares of Atlanta Braves in the 3rd quarter worth approximately $19,205,000. Vanguard Group Inc. boosted its holdings in shares of Atlanta Braves by 20.3% in the 3rd quarter. Vanguard Group Inc. now owns 2,343,979 shares of the financial services provider’s stock worth $83,750,000 after acquiring an additional 396,079 shares in the last quarter. Breach Inlet Capital Management LLC acquired a new position in shares of Atlanta Braves in the 4th quarter worth approximately $15,556,000. Freshford Capital Management LLC boosted its holdings in shares of Atlanta Braves by 84.9% in the 4th quarter. Freshford Capital Management LLC now owns 762,359 shares of the financial services provider’s stock worth $30,174,000 after acquiring an additional 350,000 shares in the last quarter. Finally, Broad Bay Capital Management LP boosted its holdings in shares of Atlanta Braves by 17.4% in the 4th quarter. Broad Bay Capital Management LP now owns 2,023,789 shares of the financial services provider’s stock worth $80,102,000 after acquiring an additional 300,000 shares in the last quarter. 64.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, TheStreet downgraded Atlanta Braves from a “c-” rating to a “d+” rating in a report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Atlanta Braves currently has a consensus rating of “Hold” and an average price target of $45.00.

Atlanta Braves Stock Performance

Shares of Atlanta Braves stock opened at $38.42 on Monday. The firm has a fifty day moving average of $38.81 and a two-hundred day moving average of $39.07. The stock has a market capitalization of $1.95 billion and a price-to-earnings ratio of -19.21. Atlanta Braves Holdings, Inc. has a 52 week low of $33.95 and a 52 week high of $50.15.

Atlanta Braves (NASDAQ:BATRK) last issued its earnings results on Wednesday, May 8th. The financial services provider reported ($0.83) EPS for the quarter, missing the consensus estimate of ($0.64) by ($0.19). The business had revenue of $37.08 million for the quarter, compared to the consensus estimate of $39.63 million. As a group, research analysts forecast that Atlanta Braves Holdings, Inc. will post -0.46 EPS for the current fiscal year.

Atlanta Braves Profile

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.