Rangeley Capital LLC Buys Shares of 10,000 Atlanta Braves Holdings, Inc. (NASDAQ:BATRK)

Rangeley Capital LLC acquired a new stake in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 10,000 shares of the financial services provider's stock, valued at approximately $383,000.

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

Insider Activity

In other news, major shareholder John C. Malone purchased 15,192 shares of the company's stock in a transaction dated Wednesday, January 22nd. The shares were acquired at an average price of $40.62 per share, with a total value of $617,099.04. Following the transaction, the insider now owns 146,020 shares of the company's stock, valued at $5,931,332.40. This represents a 11.61 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders purchased 47,692 shares of company stock valued at $1,980,287. 11.43% of the stock is currently owned by company insiders.

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Atlanta Braves Stock Up 0.8 %

NASDAQ BATRK traded up $0.31 during trading on Tuesday, hitting $36.84. 68,654 shares of the stock traded hands, compared to its average volume of 263,970. The company has a market capitalization of $1.89 billion, a P/E ratio of -50.46 and a beta of 0.56. Atlanta Braves Holdings, Inc. has a 12-month low of $35.46 and a 12-month high of $44.43. The firm has a 50-day simple moving average of $39.53 and a 200-day simple moving average of $39.43.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $52.12 million for the quarter, compared to the consensus estimate of $48.20 million. As a group, research analysts predict that Atlanta Braves Holdings, Inc. will post -0.89 EPS for the current fiscal year.

Analyst Ratings Changes

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

Atlanta Braves 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.