Atlanta Braves (NASDAQ:BATRA) Major Shareholder Gamco Investors, Inc. Et Al Sells 1,100 Shares

Key Points

• Gamco Investors, Inc. Et Al, a major shareholder of Atlanta Braves Holdings, sold 1,100 shares at an average price of $45.19, decreasing their stake by 37.93%.
• Atlanta Braves Holdings reported $0.46 earnings per share for the last quarter, exceeding the consensus estimate of $0.34.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Atlanta Braves with an average price target of $52.50.

Atlanta Braves Holdings, Inc. (NASDAQ:BATRA - Get Free Report) major shareholder Gamco Investors, Inc. Et Al sold 1,100 shares of the company's stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $45.19, for a total transaction of $49,709.00. Following the transaction, the insider owned 1,800 shares in the company, valued at approximately $81,342. This trade represents a 37.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

Gamco Investors, Inc. Et Al also recently made the following trade(s):

• On Thursday, September 18th, Gamco Investors, Inc. Et Al sold 800 shares of Atlanta Braves stock. The stock was sold at an average price of $45.49, for a total transaction of $36,392.00.

Atlanta Braves Trading Up 0.4%

NASDAQ:BATRA traded up $0.17 on Friday, hitting $45.61. 323,668 shares of the stock were exchanged, compared to its average volume of 53,491. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of -130.31 and a beta of 0.68. 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 1.31, a quick ratio of 0.64 and a current ratio of 0.64. The company's 50-day moving average price is $47.34 and its 200 day moving average price is $45.38.

Atlanta Braves (NASDAQ:BATRA - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.12. The firm had revenue of $312.44 million during the quarter, compared to analysts' expectations of $295.86 million. Atlanta Braves had a negative return on equity of 3.98% and a negative net margin of 2.99%. On average, equities research analysts forecast that Atlanta Braves Holdings, Inc. will post -0.98 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Citigroup initiated coverage on Atlanta Braves in a research note on Friday, June 13th. They issued a "neutral" rating and a $45.00 price target for the company. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $52.50.

Institutional Investors Weigh In On Atlanta Braves

Several hedge funds and other institutional investors have recently modified their holdings of BATRA. Northern Trust Corp increased its holdings in shares of Atlanta Braves by 0.5% during the fourth quarter. Northern Trust Corp now owns 95,644 shares of the financial services provider's stock valued at $3,902,000 after acquiring an additional 436 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Atlanta Braves during the fourth quarter valued at approximately $59,000. Bank of America Corp DE increased its holdings in shares of Atlanta Braves by 13.4% during the fourth quarter. Bank of America Corp DE now owns 20,004 shares of the financial services provider's stock valued at $816,000 after acquiring an additional 2,367 shares in the last quarter. D. E. Shaw & Co. Inc. increased its holdings in shares of Atlanta Braves by 41.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 13,456 shares of the financial services provider's stock valued at $549,000 after acquiring an additional 3,945 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in shares of Atlanta Braves by 1.5% during the fourth quarter. Nuveen Asset Management LLC now owns 36,354 shares of the financial services provider's stock valued at $1,483,000 after acquiring an additional 540 shares in the last quarter. Institutional investors own 12.31% of the company's stock.

About Atlanta Braves

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.

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