Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) is Breach Inlet Capital Management LLC's Largest Position

Breach Inlet Capital Management LLC grew its stake in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) by 10.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 519,378 shares of the financial services provider's stock after purchasing an additional 48,414 shares during the quarter. Atlanta Braves makes up about 14.1% of Breach Inlet Capital Management LLC's holdings, making the stock its largest position. Breach Inlet Capital Management LLC owned approximately 1.02% of Atlanta Braves worth $19,871,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. R Squared Ltd purchased a new stake in shares of Atlanta Braves during the 4th quarter worth approximately $41,000. PNC Financial Services Group Inc. increased its position in shares of Atlanta Braves by 25.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,265 shares of the financial services provider's stock valued at $87,000 after buying an additional 463 shares during the period. US Bancorp DE lifted its stake in Atlanta Braves by 17.7% in the 4th quarter. US Bancorp DE now owns 2,862 shares of the financial services provider's stock worth $110,000 after purchasing an additional 430 shares in the last quarter. OFI Invest Asset Management purchased a new position in Atlanta Braves during the fourth quarter worth about $157,000. Finally, ABC Arbitrage SA purchased a new position in Atlanta Braves during the fourth quarter worth about $204,000. 64.88% of the stock is owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In other news, major shareholder John C. Malone purchased 15,192 shares of the business's stock in a transaction on Wednesday, January 22nd. The stock was acquired at an average cost of $40.62 per share, for a total transaction of $617,099.04. Following the purchase, the insider now directly owns 146,020 shares in the company, valued at $5,931,332.40. This trade represents a 11.61 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders bought 47,692 shares of company stock valued at $1,980,287. Insiders own 11.43% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Atlanta Braves to a "sell" rating in a research report on Friday, February 28th.

Atlanta Braves Stock Down 0.6 %

Shares of NASDAQ:BATRK traded down $0.24 during midday trading on Thursday, hitting $37.84. 162,356 shares of the stock traded hands, compared to its average volume of 267,823. The stock has a market capitalization of $1.94 billion, a PE ratio of -51.70 and a beta of 0.56. Atlanta Braves Holdings, Inc. has a one year low of $35.46 and a one year high of $44.43. The business's 50 day moving average is $39.42 and its two-hundred day moving average is $39.34.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The financial services provider reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.69) by $0.38. The company had revenue of $52.12 million during the quarter, compared to analysts' expectations of $48.20 million. As a group, sell-side analysts forecast that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current year.

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.