River Road Asset Management LLC Sells 47,212 Shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK)

River Road Asset Management LLC cut its stake in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) by 38.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 76,764 shares of the financial services provider’s stock after selling 47,212 shares during the period. River Road Asset Management LLC’s holdings in Atlanta Braves were worth $3,055,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BATRK. Quent Capital LLC lifted its stake in Atlanta Braves by 568.4% in the third quarter. Quent Capital LLC now owns 1,651 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 1,404 shares during the period. Hahn Capital Management LLC lifted its stake in Atlanta Braves by 33.7% in the second quarter. Hahn Capital Management LLC now owns 1,962 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 495 shares during the period. nVerses Capital LLC purchased a new stake in Atlanta Braves in the second quarter worth about $95,000. OFI Invest Asset Management purchased a new stake in Atlanta Braves in the second quarter worth about $156,000. Finally, Mogy Joel R Investment Counsel Inc. purchased a new stake in Atlanta Braves in the second quarter worth about $212,000. 64.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Rosenblatt Securities lowered their price objective on shares of Atlanta Braves from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Wednesday, August 14th.

Atlanta Braves Price Performance

NASDAQ:BATRK opened at $40.76 on Wednesday. The firm has a market cap of $2.07 billion, a PE ratio of -41.17 and a beta of 0.70. The company has a 50-day moving average of $40.58 and a 200 day moving average of $40.46. Atlanta Braves Holdings, Inc. has a 1-year low of $33.95 and a 1-year high of $44.42.

Atlanta Braves (NASDAQ:BATRK) last released its quarterly earnings results on Thursday, August 8th. The financial services provider reported $0.46 EPS for the quarter, beating the consensus estimate of $0.41 by $0.05. The firm had revenue of $282.88 million for the quarter, compared to analysts’ expectations of $288.20 million. During the same period in the previous year, the company posted ($0.55) earnings per share. Sell-side analysts anticipate that Atlanta Braves Holdings, Inc. will post -0.44 EPS for the current fiscal year.

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.