Should You Now Consider Selling Your Liberty Braves (BATRA) Shares?

Weitz Investment Management, an investment management firm, published its “Hickory Fund” second quarter 2022 investor letter – a copy of which can be downloaded here. The Hickory Fund returned -13.06% in the second quarter compared to -16.85% for the Russell Midcap Index. Year-to-date, the Fund returned -24.49% compared to -21.57% for the Russell Midcap as of June 30, 2022. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.

In its Q2 2022 investor letter, Weitz Investment Hickory Fund mentioned The Liberty Braves Group (NASDAQ:BATRA) and explained its insights for the company. Founded in 1991, The Liberty Braves Group (NASDAQ:BATRA) is an Englewood, Colorado-based media company with a $1.4 billion market capitalization. The Liberty Braves Group (NASDAQ:BATRA) delivered a 0.38% return since the beginning of the year, while its 12-month returns are up by 12.95%. The stock closed at $28.86 per share on August 19, 2022.

Here is what Weitz Investment Hickory Fund has to say about The Liberty Braves Group (NASDAQ:BATRA) in its Q2 2022 investor letter:

“We also closed our position in Liberty Braves (NASDAQ:BATRA). Sports franchises possess unique value characteristics, but as a smaller position and with many cheaper alternatives, we elected to move on.”

Image by Gerd Altmann from Pixabay

Our calculations show that The Liberty Braves Group (NASDAQ:BATRA) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. The Liberty Braves Group (NASDAQ:BATRA) was in 17 hedge fund portfolios at the end of the second quarter of 2022, compared to 14 funds in the previous quarter. The Liberty Braves Group (NASDAQ:BATRA) delivered a 10.15% return in the past 3 months. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q2 page.

Disclosure: None. This article is originally published at Insider Monkey.