Atlanta Braves Holdings, Inc. $BATRK Shares Sold by GABELLI & Co INVESTMENT ADVISERS INC.

GABELLI & Co INVESTMENT ADVISERS INC. reduced its stake in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) by 21.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 122,243 shares of the financial services provider’s stock after selling 34,372 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC.’s holdings in Atlanta Braves were worth $5,717,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Gamco Investors INC. ET AL lifted its stake in shares of Atlanta Braves by 1.2% in the second quarter. Gamco Investors INC. ET AL now owns 1,452,088 shares of the financial services provider’s stock valued at $67,914,000 after purchasing an additional 16,663 shares during the period. Jump Financial LLC acquired a new position in Atlanta Braves during the second quarter worth about $1,830,000. Marshall Wace LLP increased its holdings in Atlanta Braves by 169.1% in the second quarter. Marshall Wace LLP now owns 93,290 shares of the financial services provider’s stock valued at $4,363,000 after buying an additional 58,624 shares in the last quarter. Walleye Capital LLC acquired a new stake in shares of Atlanta Braves during the 2nd quarter valued at approximately $1,082,000. Finally, First Trust Advisors LP lifted its position in shares of Atlanta Braves by 164.0% during the 2nd quarter. First Trust Advisors LP now owns 87,341 shares of the financial services provider’s stock valued at $4,085,000 after acquiring an additional 54,255 shares during the period. Hedge funds and other institutional investors own 64.88% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BATRK shares. Weiss Ratings restated a “sell (d-)” rating on shares of Atlanta Braves in a report on Monday, December 1st. Rosenblatt Securities reiterated a “buy” rating and set a $69.00 target price on shares of Atlanta Braves in a research report on Tuesday, December 2nd. Zacks Research upgraded Atlanta Braves from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Finally, Wall Street Zen upgraded shares of Atlanta Braves from a “sell” rating to a “hold” rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $57.00.

Atlanta Braves Stock Performance

Shares of NASDAQ:BATRK opened at $38.64 on Friday. The business’s fifty day moving average price is $39.60 and its two-hundred day moving average price is $42.33. The stock has a market cap of $1.99 billion, a PE ratio of -965.76 and a beta of 0.62. Atlanta Braves Holdings, Inc. has a one year low of $35.46 and a one year high of $47.18.

Atlanta Braves (NASDAQ:BATRK) last released its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.23. The company had revenue of $311.54 million during the quarter, compared to analyst estimates of $309.06 million. As a group, equities research analysts predict that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Gamco Investors, Inc. Et Al sold 1,100 shares of Atlanta Braves stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $45.19, for a total transaction of $49,709.00. Following the completion of the sale, the insider directly owned 1,800 shares in the company, valued at $81,342. The trade was a 37.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder John C. Malone acquired 28,567 shares of Atlanta Braves stock in a transaction that occurred on Monday, November 17th. The shares were purchased at an average cost of $41.97 per share, for a total transaction of $1,198,956.99. Following the purchase, the insider directly owned 479,972 shares of the company’s stock, valued at approximately $20,144,424.84. This trade represents a 6.33% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders purchased 67,236 shares of company stock valued at $2,822,097 and sold 3,700 shares valued at $167,859. Insiders own 11.43% of the company’s stock.

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.