Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) Sees Large Increase in Short Interest

Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) was the target of a significant growth in short interest in June. As of June 15th, there was short interest totalling 1,050,000 shares, a growth of 27.5% from the May 31st total of 823,700 shares. Based on an average trading volume of 173,900 shares, the short-interest ratio is currently 6.0 days. Currently, 2.8% of the shares of the stock are short sold.

Insider Activity

In related news, major shareholder Associated Capital Group, Inc. acquired 2,000 shares of the business’s stock in a transaction on Monday, June 24th. The stock was acquired at an average cost of $39.96 per share, with a total value of $79,920.00. Following the acquisition, the insider now directly owns 7,550 shares in the company, valued at approximately $301,698. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 11.43% of the company’s stock.

Institutional Investors Weigh In On Atlanta Braves

Several large investors have recently added to or reduced their stakes in BATRK. Broad Bay Capital Management LP lifted 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 during the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Atlanta Braves during the fourth quarter valued at approximately $954,000. Freshford Capital Management LLC raised its holdings in shares of Atlanta Braves by 84.9% in the fourth quarter. Freshford Capital Management LLC now owns 762,359 shares of the financial services provider’s stock worth $30,174,000 after buying an additional 350,000 shares during the period. Schwartz Investment Counsel Inc. bought a new stake in shares of Atlanta Braves during the 4th quarter worth approximately $4,691,000. Finally, Sage Investment Advisers LLC purchased a new position in Atlanta Braves during the 4th quarter valued at $337,000. 64.88% of the stock is owned by institutional investors.

Atlanta Braves Stock Performance

Shares of BATRK opened at $39.44 on Friday. The stock has a market capitalization of $2.00 billion and a PE ratio of -19.72. The company’s fifty day moving average is $38.93 and its 200 day moving average is $39.11. Atlanta Braves has a fifty-two week low of $33.95 and a fifty-two week high of $50.15.

Atlanta Braves (NASDAQ:BATRK) last posted its earnings results on Wednesday, May 8th. The financial services provider reported ($0.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.19). The firm had revenue of $37.08 million for the quarter, compared to analysts’ expectations of $39.63 million. As a group, research analysts forecast that Atlanta Braves will post -0.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

About Atlanta Braves

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.