GABELLI & Co INVESTMENT ADVISERS INC. Sells 43,500 Shares of Atlanta Braves Holdings, Inc. $BATRK

GABELLI & Co INVESTMENT ADVISERS INC. decreased its stake in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) by 35.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 77,618 shares of the financial services provider’s stock after selling 43,500 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC.’s holdings in Atlanta Braves were worth $3,314,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in BATRK. Lido Advisors LLC lifted its stake in shares of Atlanta Braves by 5.1% in the third quarter. Lido Advisors LLC now owns 5,512 shares of the financial services provider’s stock worth $229,000 after acquiring an additional 269 shares during the period. California State Teachers Retirement System increased its position in Atlanta Braves by 0.7% during the 2nd quarter. California State Teachers Retirement System now owns 39,984 shares of the financial services provider’s stock valued at $1,870,000 after purchasing an additional 285 shares during the period. Rockefeller Capital Management L.P. raised its holdings in Atlanta Braves by 4.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 6,745 shares of the financial services provider’s stock worth $266,000 after purchasing an additional 310 shares during the last quarter. Comerica Bank raised its holdings in Atlanta Braves by 44.8% during the 1st quarter. Comerica Bank now owns 1,031 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 319 shares during the last quarter. Finally, Diversify Advisory Services LLC lifted its position in shares of Atlanta Braves by 2.0% in the 4th quarter. Diversify Advisory Services LLC now owns 16,743 shares of the financial services provider’s stock worth $671,000 after purchasing an additional 323 shares during the period. 64.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Atlanta Braves Stock Performance

Shares of BATRK stock opened at $50.28 on Friday. Atlanta Braves Holdings, Inc. has a fifty-two week low of $37.76 and a fifty-two week high of $53.25. The stock has a 50 day simple moving average of $50.83 and a two-hundred day simple moving average of $46.11. The company has a market cap of $2.66 billion, a P/E ratio of -139.67 and a beta of 0.68.

Atlanta Braves (NASDAQ:BATRK) last posted its quarterly earnings results on Monday, May 11th. The financial services provider reported ($0.63) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.20. The business had revenue of $72.01 million for the quarter, compared to the consensus estimate of $64.60 million. On average, research analysts predict that Atlanta Braves Holdings, Inc. will post -0.06 earnings per share for the current year.

About Atlanta Braves

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.