Wellington Management Group LLP has a $44.70 million stock position in Atlanta Braves Holdings, Inc. (NASDAQ: BATRK)

Wellington Management Group LLP increased its stake in shares of Atlanta Braves Holdings, Inc. (NASDAQ: BATRK – Free Report) by 6.0% during the fourth quarter, according to its latest disclosure with the Securities and Exchange Commission. The institutional investor owned 1,129,382 shares of the financial services provider after purchasing an additional 63,579 shares during the quarter. Wellington Management Group LLP owned 2.23% of the Atlanta Braves worth $44,701,000 when it last filed with the Securities and Exchange Commission.

A number of other institutional investors have also recently increased or reduced their stakes in the stock. Walleye Capital LLC acquired a new position in shares of the Atlanta Braves during the third quarter valued at approximately $19,205,000. Vanguard Group Inc. increased its holdings of Atlanta Braves shares by 20.3% in the 3rd quarter. Vanguard Group Inc. now owns 2,343,979 shares of the financial services provider’s stock worth $83,750,000 after acquiring an additional 396,079 shares during the last quarter. Breach Inlet Capital Management LLC acquired a new position in shares of the Atlanta Braves during the 4th quarter valued at approximately $15,556,000. Freshford Capital Management LLC increased its holdings of shares of the Atlanta Braves by 84.9% in the 4th quarter. Freshford Capital Management LLC now owns 762,359 shares of the financial services provider’s stock worth $30,174,000 after acquiring an additional 350,000 shares during the last quarter. Finally, Broad Bay Capital Management LP increased its holdings of shares of the Atlanta Braves by 17.4% in the 4th quarter. Broad Bay Capital Management LP now owns 2,023,789 shares of the financial services provider’s stock worth $80,102,000 after acquiring an additional 300,000 shares during the last quarter. 64.88% of shares are owned by institutional investors and hedge funds.

Analysts set new price targets

Separately, TheStreet lowered the Atlanta Braves’ rating from a “c-” rating to a “d+” rating in a report released Tuesday (March 19). One equities research analyst has rated the stock with a sell rating, another has a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the Atlanta Braves currently have a consensus rating of “Hold” and an average price target of $45.00.

Read our latest report on BATRK

Stock performance of the Atlanta Braves

Shares of the Atlanta Braves opened at $38.42 on Monday. The company has a fifty day moving average of $38.81 and a two hundred day moving average of $39.07. The stock has a market capitalization of $1.95 billion and a price-to-earnings ratio of -19.21. Atlanta Braves Holdings, Inc. has a 52-week low of $33.95 and a 52-week high of $50.15.

The Atlanta Braves (NASDAQ:BATRK – Get Free Report) last released their earnings results on Wednesday, May 8th. The financial services provider reported EPS of ($0.83) for the quarter, missing the consensus estimate of ($0.64) by ($0.19). The company reported revenue of $37.08 million for the quarter, compared to the consensus estimate of $39.63 million. As a group, research analysts forecast that Atlanta Braves Holdings, Inc. will post -0.46 EPS for the current fiscal year.

Atlanta Braves Profile

(Free report)

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

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