Bank of New York Mellon Corp boosted its stake in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK – Free Report) by 19.2% in the 2nd quarter, Holdings Channel reports. The firm owned 178,903 shares of the financial services provider’s stock after acquiring an additional 28,879 shares during the quarter. Bank of New York Mellon Corp’s holdings in Atlanta Braves were worth $7,056,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. Quent Capital LLC increased its holdings in shares of Atlanta Braves by 568.4% in the first quarter. Quent Capital LLC now owns 1,651 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 1,404 shares during the period. Brown Brothers Harriman & Co. increased its stake in Atlanta Braves by 31.2% in the 4th quarter. Brown Brothers Harriman & Co. now owns 2,452 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 583 shares during the last quarter. Mango Investments LLC purchased a new stake in shares of Atlanta Braves in the 4th quarter valued at about $107,000. OFI Invest Asset Management bought a new stake in shares of Atlanta Braves during the 2nd quarter valued at about $156,000. Finally, Scarborough Advisors LLC bought a new stake in shares of Atlanta Braves during the 4th quarter valued at about $199,000. Hedge funds and other institutional investors own 64.88% of the company’s stock.
Atlanta Braves Stock Performance
Atlanta Braves stock opened at $40.41 on Thursday. Atlanta Braves Holdings, Inc. has a fifty-two week low of $33.95 and a fifty-two week high of $44.42. The firm’s fifty day moving average price is $42.23 and its 200-day moving average price is $40.00. The stock has a market cap of $2.05 billion, a P/E ratio of -20.21 and a beta of 0.73.
Insider Activity at Atlanta Braves
In other Atlanta Braves news, major shareholder Associated Capital Group, Inc. purchased 2,000 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were purchased at an average cost of $39.96 per share, with a total value of $79,920.00. Following the completion of the purchase, the insider now owns 7,550 shares of the company’s stock, valued at approximately $301,698. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 11.43% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Separately, Rosenblatt Securities lowered their target price on shares of Atlanta Braves from $54.00 to $53.00 and set a “buy” rating on the stock in a research note on Wednesday, August 14th.
Read Our Latest Report on BATRK
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.
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