Truist Financial Corp Boosts Position in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK)

Truist Financial Corp raised its stake in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) by 5.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,892 shares of the financial services provider’s stock after buying an additional 535 shares during the quarter. Truist Financial Corp’s holdings in Atlanta Braves were worth $417,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. R Squared Ltd purchased a new position in Atlanta Braves during the 4th quarter valued at about $41,000. Quest Partners LLC boosted its position in shares of Atlanta Braves by 28,820.0% during the 3rd quarter. Quest Partners LLC now owns 4,338 shares of the financial services provider’s stock valued at $173,000 after acquiring an additional 4,323 shares during the last quarter. Quantinno Capital Management LP bought a new stake in shares of Atlanta Braves during the 3rd quarter valued at about $205,000. FORA Capital LLC bought a new stake in shares of Atlanta Braves during the 3rd quarter valued at about $211,000. Finally, ABC Arbitrage SA bought a new stake in shares of Atlanta Braves during the 4th quarter valued at about $204,000. Hedge funds and other institutional investors own 64.88% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Atlanta Braves to a “sell” rating in a research report on Friday, February 28th.

Insider Activity

In other news, major shareholder John C. Malone purchased 5,094 shares of Atlanta Braves stock in a transaction that occurred on Monday, January 27th. The shares were bought at an average cost of $41.94 per share, with a total value of $213,642.36. Following the completion of the purchase, the insider now directly owns 169,522 shares in the company, valued at approximately $7,109,752.68. This trade represents a 3.10 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have acquired 44,932 shares of company stock valued at $1,864,395. Company insiders own 11.43% of the company’s stock.

Atlanta Braves Stock Performance

Shares of BATRK stock opened at $39.81 on Wednesday. Atlanta Braves Holdings, Inc. has a fifty-two week low of $35.81 and a fifty-two week high of $44.42. The stock has a 50 day moving average price of $38.63 and a two-hundred day moving average price of $39.88. The company has a market capitalization of $2.02 billion, a P/E ratio of -54.53 and a beta of 0.73.

Atlanta Braves (NASDAQ:BATRK) last announced its quarterly earnings data on Wednesday, February 26th. The financial services provider reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.69) by $0.38. The company had revenue of $52.12 million during the quarter, compared to the consensus estimate of $48.20 million. As a group, equities analysts predict that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current year.

Atlanta Braves Company 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.