Bank of New York Mellon Corp Cuts Position in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK)

Bank of New York Mellon Corp decreased its position in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) by 0.6% during the fourth quarter, Holdings Channel reports. The firm owned 139,838 shares of the financial services provider’s stock after selling 781 shares during the quarter. Bank of New York Mellon Corp’s holdings in Atlanta Braves were worth $5,350,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BATRK. Miracle Mile Advisors LLC purchased a new stake in Atlanta Braves in the fourth quarter valued at approximately $6,736,000. HBK Investments L P increased its position in shares of Atlanta Braves by 57.0% during the third quarter. HBK Investments L P now owns 480,000 shares of the financial services provider’s stock worth $19,104,000 after acquiring an additional 174,300 shares during the period. JPMorgan Chase & Co. increased its position in shares of Atlanta Braves by 123.0% during the third quarter. JPMorgan Chase & Co. now owns 167,273 shares of the financial services provider’s stock worth $6,657,000 after acquiring an additional 92,248 shares during the period. Harvey Partners LLC boosted its holdings in Atlanta Braves by 14.6% in the third quarter. Harvey Partners LLC now owns 507,000 shares of the financial services provider’s stock valued at $20,179,000 after purchasing an additional 64,500 shares during the period. Finally, Barclays PLC grew its stake in Atlanta Braves by 160.3% during the 3rd quarter. Barclays PLC now owns 82,330 shares of the financial services provider’s stock worth $3,276,000 after purchasing an additional 50,702 shares in the last quarter. Hedge funds and other institutional investors own 64.88% of the company’s stock.

Insider Activity

In other Atlanta Braves news, major shareholder John C. Malone acquired 5,094 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were acquired at an average price of $41.94 per share, for a total transaction of $213,642.36. Following the acquisition, the insider now owns 169,522 shares in the company, valued at $7,109,752.68. The trade was a 3.10 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have acquired 47,692 shares of company stock worth $1,980,287. 11.43% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

Atlanta Braves Price Performance

Shares of NASDAQ BATRK opened at $38.98 on Tuesday. The stock’s 50-day moving average is $38.87 and its two-hundred day moving average is $39.62. Atlanta Braves Holdings, Inc. has a 1-year low of $35.81 and a 1-year high of $44.43. The company has a market cap of $2.00 billion, a price-to-earnings ratio of -53.40 and a beta of 0.65.

Atlanta Braves (NASDAQ:BATRK) last released its quarterly earnings data on Wednesday, February 26th. The financial services provider reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.38. The business had revenue of $52.12 million during the quarter, compared to analysts’ expectations of $48.20 million. Equities research analysts anticipate that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current fiscal 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.