Atlanta Braves Holdings, Inc. (NASDAQ:BATRK): Short Positions Up 27.5% in June

Atlanta Braves Holdings, Inc. (NASDAQ:BATRK – Get Free Report) saw strong growth in short interest in the month of June. As of June 15, short interest totaled 1,050,000 shares, representing a 27.5% increase from the May 31 total of 823,700 shares. Based on an average trading volume of 173,900 shares, the days-to-cover ratio is currently 6.0 days. Currently, 2.8% of the company’s shares are short.

Insider Trading at the Atlanta Braves

In other Atlanta Braves news, major shareholder Associated Capital Group, Inc. purchased 2,000 shares in a transaction dated Monday, June 24. The shares were purchased at an average price of $39.96 per share, for a total value of $79,920.00. Following the completion of the transaction, the insider now directly owns 7,550 shares of the company’s stock, valued at approximately $301,698. The transaction was disclosed in a filing with the SEC, accessible via this hyperlink. Insiders hold 11.43% of the shares.

Institutional Investors Weigh In on Atlanta Braves

Institutional investors and hedge funds have recently been buying and selling shares. Quent Capital LLC increased its stake in Atlanta Braves by 568.4% during the first quarter. Quent Capital LLC now owns 1,651 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 1,404 shares in the last quarter. Brown Brothers Harriman & Co. increased its stake in the Atlanta Braves by 31.2% in the fourth quarter. Brown Brothers Harriman & Co. now owns 2,452 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 583 shares in the last quarter. Mango Investments LLC purchased a new position in the Atlanta Braves during the fourth quarter valued at approximately $107,000. Scarborough Advisors LLC purchased a new position in shares of the Atlanta Braves during the fourth quarter worth approximately $199,000. Finally, SageView Advisory Group LLC purchased a new position in shares of the Atlanta Braves during the fourth quarter worth approximately $206,000. 64.88% of the shares are held by hedge funds and other institutional investors.

Atlanta Braves stock performance

Atlanta Braves stock opened at $39.44 on Friday. The Atlanta Braves have a fifty-two week low of $33.95 and a fifty-two week high of $50.15. The stock has a market cap of $2.00 billion and a P/E ratio of -19.72. The company’s 50-day moving average price is $38.93 and its 200-day moving average price is $39.11.

The Atlanta Braves (NASDAQ:BATRK – Get Free Report) last announced their financial results on Wednesday, May 8. The financial services provider reported earnings per share of $(0.83) for the quarter, which fell short of analysts’ consensus estimates of $(0.64) by $(0.19). The company had revenue of $37.08 million during the quarter, compared to analyst estimates of $39.63 million. Sell-side analysts predict that the Atlanta Braves will post earnings per share of -$0.46 for the current year.

Wall Street analysts predict growth

Separately, TheStreet lowered the Atlanta Braves’ rating from “c-” to “d+” in a report published Tuesday, March 19. One analyst has rated the stock with a sell rating, another with a hold rating and two with a buy rating. Based on MarketBeat data, the stock currently has an average rating of “Hold” and a consensus price target of $45.00.

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About the Atlanta Braves

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Atlanta Braves Holdings, Inc. owns and operates the Atlanta Braves Major League Baseball team. It also operates mixed-use development projects, including retail, office, hospitality and entertainment projects. The company was incorporated in 2022 and is headquartered in Englewood, Colorado.

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