Gamco Investors INC. ET AL Decreases Stock Holdings in Atlanta Braves Holdings, Inc. $BATRK

Gamco Investors INC. ET AL lowered its stake in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) by 3.5% during the 1st quarter, Holdings Channel.com reports. The fund owned 1,332,063 shares of the financial services provider’s stock after selling 48,962 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Atlanta Braves were worth $56,879,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Global Trust Asset Management LLC purchased a new stake in shares of Atlanta Braves during the 1st quarter valued at about $26,000. EverSource Wealth Advisors LLC raised its holdings in shares of Atlanta Braves by 956.1% during the second quarter. EverSource Wealth Advisors LLC now owns 697 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 631 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of Atlanta Braves during the third quarter valued at approximately $34,000. Fifth Third Bancorp bought a new position in Atlanta Braves during the first quarter valued at approximately $35,000. Finally, Comerica Bank lifted its position in Atlanta Braves by 44.8% during the first quarter. Comerica Bank now owns 1,031 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 319 shares during the period. Institutional investors own 64.88% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Morgan Stanley cut shares of Atlanta Braves from an “overweight” rating to an “equal weight” rating and set a $54.00 target price on the stock. in a report on Wednesday, July 15th. Rosenblatt Securities boosted their target price on shares of Atlanta Braves from $69.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Zacks Research cut Atlanta Braves from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Atlanta Braves in a research note on Wednesday, June 24th. Finally, Wall Street Zen upgraded Atlanta Braves from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $64.50.

Atlanta Braves Stock Up 0.6%

NASDAQ BATRK opened at $50.28 on Friday. Atlanta Braves Holdings, Inc. has a 52 week low of $37.76 and a 52 week high of $53.25. The firm has a market capitalization of $2.66 billion, a P/E ratio of -139.67 and a beta of 0.68. The company has a 50-day moving average price of $50.83 and a 200-day moving average price of $46.11.

Atlanta Braves (NASDAQ:BATRK) last issued its quarterly earnings data on Monday, May 11th. The financial services provider reported ($0.63) earnings per share for the quarter, topping the consensus estimate of ($0.83) by $0.20. The business had revenue of $72.01 million during the quarter, compared to the consensus estimate of $64.60 million. As a group, equities research analysts anticipate that Atlanta Braves Holdings, Inc. will post -0.06 EPS for the current year.

Atlanta Braves Company Profile

The Atlanta Braves Real Estate Ownership Trust (NASDAQ:BATRK) is a publicly traded real estate investment trust established in 2021 by Liberty Braves Group. The trust’s primary purpose is to own and manage a portfolio of sports and entertainment properties related to the Atlanta Braves baseball franchise. BATRK generates stable rental income by leasing its assets to the Braves Baseball Club, LLC, under long-term lease agreements designed to align property performance with franchise needs.

The trust’s portfolio is anchored by Truist Park, the 41,084-seat baseball stadium that has served as the Braves’ home since 2017.