Sumitomo Mitsui Trust Holdings Inc. increases stock holdings in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK)

VaselineAugust 25, 2024

0 3 minutes read

Sumitomo Mitsui Trust Holdings Inc. increased its stake in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK – Free Report) by 96.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,884 shares of the financial services provider’s stock after acquiring an additional 5,341 shares during the period. Holdings of Sumitomo Mitsui Trust Holdings Inc. in Atlanta Braves were worth $429,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Moran Wealth Management LLC boosted its holdings in shares of Atlanta Braves by 4.7% in the fourth quarter. Moran Wealth Management LLC now owns 6,394 shares of the financial services provider’s stock valued at $253,000 after acquiring an additional 287 shares during the period. Third Avenue Management LLC boosted its holdings in shares of Atlanta Braves by 1.2% in the 4th quarter. Third Avenue Management LLC now owns 26,000 shares of the financial services provider’s stock worth $1,029,000 after acquiring an additional 300 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Atlanta Braves by 2.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 13,388 shares of the financial services provider’s stock valued at $528,000 after acquiring an additional 341 shares during the period. Brown Brothers Harriman & Co. raised its holdings in shares of 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 valued at $97,000 after acquiring an additional 583 shares during the period. Finally, Redmont Wealth Advisors LLC boosted its holdings in shares of Atlanta Braves by 4.2% in the 1st quarter. Redmont Wealth Advisors LLC now owns 15,393 shares of the financial services provider’s stock valued at $601,000 after acquiring an additional 614 shares during the period. 64.88% of the shares are currently held by hedge funds and other institutional investors.

The Wall Street analyst weighs in

Separately, Rosenblatt Securities dropped their target price on shares of Atlanta Braves from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th.

Want more great investment ideas?

Check out the latest stock report on BATRK

Insider activity at the Atlanta Braves

In other news, major shareholder Associated Capital Group, Inc. acquired 2,000 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were acquired at an average cost of $39.96 per share, for a total transaction of $79,920.00. Following the transaction, the insider now directly owns 7,550 shares in the company, valued at approximately $301,698. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders bought a total of 3,000 shares of company stock worth $121,765. Insiders own 11.43% of the company’s shares.

Atlanta Braves price performance

NASDAQ:BATRK opened at $43.74 on Friday. The company’s fifty day moving average price is $41.42 and its 200 day moving average price is $39.82. Atlanta Braves Holdings, Inc. has a 1 year low of $33.95 and a 1 year high of $44.15. The firm has a market cap of $2.22 billion and a price-to-earnings ratio of -21.87.

Atlanta Braves (NASDAQ:BATRK – Get Your Free Report ) last released its quarterly earnings data on Thursday, August 8th. The financial services provider reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. The firm had revenue of $282.88 million during the quarter, compared to analysts’ expectations of $288.20 million. In the same quarter last year, the company earned ($0.55) earnings per share. As a group, analysts expect Atlanta Braves Holdings, Inc. to post -0.46 earnings per share for the current fiscal year.

Atlanta Braves Company Profile

(Free report)

Atlanta Braves Holdings, Inc owns and operates the Atlanta Braves major league baseball club. It also operates mixed-use development projects, including retail, office, hotel and entertainment projects. The company was founded in 2022 and is headquartered in Englewood, Colorado.