Wavvest Wealth LLC Buys 10,862 Shares of Atlanta Braves Holdings, Inc. $BATRK

Wavvest Wealth LLC bought a new stake in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 10,862 shares of the financial services provider’s stock, valued at approximately $575,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. grew its position in Atlanta Braves by 4.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 6,745 shares of the financial services provider’s stock valued at $266,000 after acquiring an additional 310 shares during the period. Arizona State Retirement System raised its holdings in shares of Atlanta Braves by 2.8% in the 2nd quarter. Arizona State Retirement System now owns 13,123 shares of the financial services provider’s stock worth $681,000 after purchasing an additional 361 shares during the period. Pinnacle Associates Ltd. raised its holdings in shares of Atlanta Braves by 9.0% in the 3rd quarter. Pinnacle Associates Ltd. now owns 5,193 shares of the financial services provider’s stock worth $275,000 after purchasing an additional 428 shares during the period. Ancora Advisors LLC lifted its stake in shares of Atlanta Braves by 0.3% in the 2nd quarter. Ancora Advisors LLC now owns 157,275 shares of the financial services provider’s stock valued at $8,163,000 after purchasing an additional 457 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in shares of Atlanta Braves by 25.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 2,656 shares of the financial services provider’s stock valued at $140,000 after purchasing an additional 537 shares in the last quarter. Institutional investors and hedge funds own 64.88% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on BATRK shares. Morgan Stanley cut Atlanta Braves from an “overweight” rating to an “equal weight” rating and set a $54.00 target price for the company. in a report on Wednesday, July 15th. Rosenblatt Securities cut their price target on shares of Atlanta Braves from $75.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Atlanta Braves in a research report on Monday, September 21st. Finally, Wall Street Zen downgraded shares of Atlanta Braves from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $63.50.

Atlanta Braves Stock Down 0.2%

Shares of NASDAQ BATRK opened at $50.07 on Thursday. Atlanta Braves Holdings, Inc. has a 1-year low of $37.76 and a 1-year high of $54.86. The business has a 50-day moving average of $51.55 and a 200-day moving average of $50.47.

Atlanta Braves (NASDAQ:BATRK) last posted its earnings results on Wednesday, August 5th. The financial services provider reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.50). The firm had revenue of $305.12 million during the quarter, compared to analyst estimates of $319.00 million. Analysts anticipate that Atlanta Braves Holdings, Inc. will post -0.44 EPS for the current fiscal year.

Insider Activity at Atlanta Braves

In other Atlanta Braves news, EVP Gregory Heller sold 80,263 shares of the company’s stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $53.89, for a total value of $4,325,373.07. Following the completion of the transaction, the executive vice president owned 22,741 shares in the company, valued at $1,225,512.49. This represents a 77.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Derek Schiller sold 175,395 shares of the company’s stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $53.20, for a total value of $9,331,014.00. Following the completion of the transaction, the executive vice president owned 316,908 shares of the company’s stock, valued at approximately $16,859,505.60. This represents a 35.63% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 11.43% of the company’s stock.

Atlanta Braves Profile

Atlanta Braves Holdings, Inc owns and operates the Atlanta Braves, a Major League Baseball franchise based in Atlanta, Georgia. The organization generates revenue through professional baseball operations, including ticket sales, sponsorships, broadcasting and media rights, licensing, concessions, premium seating and hospitality.

The Braves play their home games at Truist Park, which opened in 2017 in Cobb County, northwest of downtown Atlanta. The surrounding Battery Atlanta development provides additional dining, retail, entertainment, office and residential offerings, as well as event and hospitality services, supporting the company’s broader sports and mixed-use real estate activities.

The franchise traces its history to 1871 and has operated in Atlanta since 1966, following earlier periods in Boston and Milwaukee.