Principal Financial Group Inc. Sells 125,546 Shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK)

Principal Financial Group Inc. trimmed its holdings in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) by 80.4% in the 2nd quarter, Holdings Channel reports. The fund owned 30,563 shares of the financial services provider’s stock after selling 125,546 shares during the quarter. Principal Financial Group Inc.’s holdings in Atlanta Braves were worth $1,205,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp grew its stake in shares of Atlanta Braves by 19.2% in the second quarter. Bank of New York Mellon Corp now owns 178,903 shares of the financial services provider’s stock worth $7,056,000 after acquiring an additional 28,879 shares during the last quarter. Schwartz Investment Counsel Inc. lifted its stake in shares of Atlanta Braves by 54.6% in the second quarter. Schwartz Investment Counsel Inc. now owns 542,264 shares of the financial services provider’s stock worth $21,387,000 after buying an additional 191,478 shares in the last quarter. Oak Family Advisors LLC grew its holdings in shares of Atlanta Braves by 4.5% during the second quarter. Oak Family Advisors LLC now owns 116,371 shares of the financial services provider’s stock valued at $4,590,000 after buying an additional 4,959 shares during the last quarter. OFI Invest Asset Management bought a new stake in shares of Atlanta Braves during the second quarter valued at approximately $156,000. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Atlanta Braves by 96.4% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,884 shares of the financial services provider’s stock worth $429,000 after acquiring an additional 5,341 shares during the last quarter. 64.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Rosenblatt Securities decreased their price target on 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 Stock Down 0.6 %

Shares of BATRK stock opened at $40.15 on Friday. The company has a 50 day moving average price of $42.23 and a 200-day moving average price of $40.00. Atlanta Braves Holdings, Inc. has a 52 week low of $33.95 and a 52 week high of $44.42. The firm has a market capitalization of $2.03 billion, a PE ratio of -20.08 and a beta of 0.73.

Atlanta Braves (NASDAQ:BATRK) last posted its earnings results on Thursday, August 8th. The financial services provider reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. The company had revenue of $282.88 million during the quarter, compared to the consensus estimate of $288.20 million. During the same period last year, the firm posted ($0.55) EPS. Analysts anticipate that Atlanta Braves Holdings, Inc. will post -0.31 earnings per share for the current year.

Insider Buying and Selling

In other Atlanta Braves news, major shareholder Associated Capital Group, Inc. acquired 2,000 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were bought at an average price of $39.96 per share, with a total value of $79,920.00. Following the completion of the acquisition, the insider now owns 7,550 shares in the company, valued at approximately $301,698. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.43% of the stock is currently owned by corporate insiders.

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.