VELA Investment Management LLC Raises Holdings in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK)

VELA Investment Management LLC grew its holdings in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) by 18.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 76,048 shares of the financial services provider's stock after buying an additional 11,670 shares during the quarter. Atlanta Braves makes up about 0.8% of VELA Investment Management LLC's investment portfolio, making the stock its 28th largest holding. VELA Investment Management LLC owned approximately 0.15% of Atlanta Braves worth $2,910,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Miracle Mile Advisors LLC bought a new position in shares of Atlanta Braves in the 4th quarter worth about $6,736,000. HBK Investments L P grew its stake in shares of Atlanta Braves by 57.0% in the 3rd quarter. HBK Investments L P now owns 480,000 shares of the financial services provider's stock worth $19,104,000 after buying an additional 174,300 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in Atlanta Braves by 76.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 315,424 shares of the financial services provider's stock valued at $12,554,000 after buying an additional 137,124 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Atlanta Braves by 123.0% during the third quarter. JPMorgan Chase & Co. now owns 167,273 shares of the financial services provider's stock valued at $6,657,000 after buying an additional 92,248 shares during the last quarter. Finally, 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 worth $20,179,000 after acquiring an additional 64,500 shares in the last quarter. 64.88% of the stock is owned by hedge funds and other institutional investors.

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Atlanta Braves Stock Performance

Shares of NASDAQ:BATRK traded down $0.33 during midday trading on Tuesday, reaching $39.79. 254,503 shares of the company's stock traded hands, compared to its average volume of 292,932. Atlanta Braves Holdings, Inc. has a one year low of $35.81 and a one year high of $44.42. The stock has a 50 day moving average of $38.59 and a 200 day moving average of $39.89. The company has a market cap of $2.02 billion, a price-to-earnings ratio of -54.55 and a beta of 0.73.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The financial services provider reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.69) by $0.38. The business had revenue of $52.12 million during the quarter, compared to the consensus estimate of $48.20 million. Sell-side analysts predict that Atlanta Braves Holdings, Inc. will post -0.89 EPS for the current fiscal year.

Insider Buying and Selling at Atlanta Braves

In other news, major shareholder John C. Malone acquired 24,646 shares of the company's stock in a transaction that occurred on Wednesday, January 29th. The shares were bought at an average price of $41.94 per share, with a total value of $1,033,653.24. Following the completion of the purchase, the insider now directly owns 211,358 shares in the company, valued at $8,864,354.52. This trade represents a 13.20 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders bought 44,932 shares of company stock worth $1,864,395 in the last quarter. 11.43% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Atlanta Braves to a "sell" rating in a research note on Friday.

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.