Gabelli Funds LLC Purchases 36,995 Shares of Atlanta Braves Holdings, Inc. $BATRA

Gabelli Funds LLC lifted its position in Atlanta Braves Holdings, Inc. (NASDAQ:BATRA) by 4.5% in the 3rd quarter, Holdings Channel reports. The fund owned 864,316 shares of the financial services provider’s stock after acquiring an additional 36,995 shares during the quarter. Gabelli Funds LLC’s holdings in Atlanta Braves were worth $39,300,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. R Squared Ltd purchased a new position in Atlanta Braves during the third quarter valued at $455,000. US Bancorp DE increased its stake in shares of Atlanta Braves by 112.6% in the 3rd quarter. US Bancorp DE now owns 2,832 shares of the financial services provider’s stock worth $129,000 after acquiring an additional 1,500 shares in the last quarter. MRP Capital Investments LLC purchased a new position in Atlanta Braves during the 3rd quarter valued at about $1,022,000. Vanguard Group Inc. boosted its stake in Atlanta Braves by 14.3% during the third quarter. Vanguard Group Inc. now owns 685,557 shares of the financial services provider’s stock worth $31,172,000 after acquiring an additional 85,853 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Atlanta Braves by 4.8% in the third quarter. JPMorgan Chase & Co. now owns 53,211 shares of the financial services provider’s stock worth $2,420,000 after purchasing an additional 2,428 shares during the period. 12.31% of the stock is currently owned by institutional investors.

Atlanta Braves Trading Down 0.5%

Shares of NASDAQ BATRA opened at $48.46 on Friday. The firm’s 50 day moving average price is $44.87 and its 200-day moving average price is $44.33. Atlanta Braves Holdings, Inc. has a 52-week low of $38.67 and a 52-week high of $50.50. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.42 and a current ratio of 0.42. The company has a market cap of $3.05 billion, a PE ratio of -124.25 and a beta of 0.55.

Atlanta Braves (NASDAQ:BATRA) last announced its quarterly earnings data on Wednesday, February 25th. The financial services provider reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.46. The company had revenue of $61.30 million during the quarter, compared to analyst estimates of $54.93 million. Atlanta Braves had a negative net margin of 3.19% and a positive return on equity of 0.08%. On average, equities research analysts expect that Atlanta Braves Holdings, Inc. will post -0.98 EPS for the current fiscal year.

Insider Activity at Atlanta Braves

In other Atlanta Braves news, major shareholder John C. Malone purchased 35,000 shares of the firm’s stock in a transaction dated Thursday, February 5th. The stock was purchased at an average price of $44.23 per share, for a total transaction of $1,548,050.00. Following the completion of the purchase, the insider directly owned 521,862 shares of the company’s stock, valued at $23,081,956.26. This trade represents a 7.19% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

BATRA has been the subject of several recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Atlanta Braves in a report on Wednesday, January 21st. Zacks Research upgraded Atlanta Braves from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $45.00.

Atlanta Braves Company Profile

The Atlanta Braves (NASDAQ: BATRA) are a professional baseball club that competes in Major League Baseball’s National League East division. Founded in 1871 as the Boston Red Stockings, the franchise relocated to Milwaukee in 1953 before settling in Atlanta in 1966. As one of MLB’s oldest and most storied organizations, the Braves are responsible for fielding a Major League team, overseeing player development through a network of minor league affiliates, and managing baseball operations under the leadership of President of Baseball Operations Alex Anthopoulos.

Beyond on‐field performance, the Braves operate a diversified sports and entertainment business.