Principal Financial Group Inc. Has $6.10 Million Stake in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK)

Principal Financial Group Inc. lowered its stake in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) by 2.8% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 156,109 shares of the financial services provider’s stock after selling 4,427 shares during the period. Principal Financial Group Inc. owned approximately 0.25% of Atlanta Braves worth $6,098,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in BATRK. Vanguard Group Inc. lifted its position in shares of Atlanta Braves by 20.3% during the 3rd quarter. Vanguard Group Inc. now owns 2,343,979 shares of the financial services provider’s stock worth $83,750,000 after buying an additional 396,079 shares in the last quarter. Broad Bay Capital Management LP raised its holdings in shares of 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 purchasing an additional 300,000 shares during the period. Gamco Investors INC. ET AL raised its holdings in shares of Atlanta Braves by 1.9% in the 4th quarter. Gamco Investors INC. ET AL now owns 1,461,503 shares of the financial services provider’s stock worth $57,846,000 after purchasing an additional 26,768 shares during the period. Gabelli Funds LLC raised its holdings in shares of Atlanta Braves by 7.6% in the 4th quarter. Gabelli Funds LLC now owns 1,288,847 shares of the financial services provider’s stock worth $51,013,000 after purchasing an additional 91,355 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of Atlanta Braves by 6.0% in the 4th quarter. Wellington Management Group LLP now owns 1,129,382 shares of the financial services provider’s stock worth $44,701,000 after purchasing an additional 63,579 shares during the period. Institutional investors and hedge funds own 64.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, TheStreet cut shares of Atlanta Braves from a “c-” rating to a “d+” rating in a report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $45.00.

Insider Activity at Atlanta Braves

In other news, major shareholder Associated Capital Group, Inc. bought 2,000 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were bought at an average price of $39.96 per share, for a total transaction of $79,920.00. Following the purchase, the insider now owns 7,550 shares in the company, valued at $301,698. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Atlanta Braves Stock Up 0.3 %

Shares of BATRK stock traded up $0.12 during trading hours on Friday, hitting $40.14. 20,086 shares of the company’s stock traded hands, compared to its average volume of 189,156. The stock’s fifty day simple moving average is $39.07 and its two-hundred day simple moving average is $39.15. Atlanta Braves Holdings, Inc. has a 12-month low of $33.95 and a 12-month high of $50.15. The stock has a market cap of $2.03 billion and a price-to-earnings ratio of -20.01.

Atlanta Braves (NASDAQ:BATRK) last released its earnings results on Wednesday, May 8th. The financial services provider reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.64) by ($0.19). The firm had revenue of $37.08 million for the quarter, compared to analysts’ expectations of $39.63 million. On average, equities analysts forecast that Atlanta Braves Holdings, Inc. will post -0.46 earnings per share for the current fiscal year.

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.