Atlanta Braves (NASDAQ:BATRA) Major Shareholder Gamco Investors, Inc. Et Al Sells 500 Shares

Key Points

• Gamco Investors, Inc. Et Al has sold a total of 500 shares of Atlanta Braves stock for $22,755, marking a 50% decrease in their position.
• Atlanta Braves Holdings reported $0.46 earnings per share for the last quarter, surpassing analyst expectations of $0.34.
• Citigroup has initiated coverage on Atlanta Braves shares with a "neutral" rating and a price target of $45.00, while the average target price among analysts is $52.50.

Atlanta Braves Holdings, Inc. (NASDAQ:BATRA - Get Free Report) major shareholder Gamco Investors, Inc. Et Al sold 500 shares of the business's stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $45.51, for a total transaction of $22,755.00. Following the sale, the insider directly owned 500 shares of the company's stock, valued at $22,755. This represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

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

• On Thursday, September 25th, Gamco Investors, Inc. Et Al sold 800 shares of Atlanta Braves stock. The stock was sold at an average price of $45.41, for a total transaction of $36,328.00.
• On Friday, September 19th, Gamco Investors, Inc. Et Al sold 1,100 shares of Atlanta Braves stock. The stock was sold at an average price of $45.19, for a total transaction of $49,709.00.
• 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 Price Performance

BATRA traded down $0.21 on Friday, reaching $45.30. 48,521 shares of the company's stock were exchanged, compared to its average volume of 53,838. The stock has a market cap of $2.84 billion, a PE ratio of -129.43 and a beta of 0.68. Atlanta Braves Holdings, Inc. has a twelve month low of $38.67 and a twelve month high of $50.50. The stock's fifty day moving average price is $46.95 and its 200-day moving average price is $45.45. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.64 and a quick ratio of 0.64.

Atlanta Braves (NASDAQ:BATRA - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.12. The firm had revenue of $312.44 million for the quarter, compared to analyst estimates of $295.86 million. Atlanta Braves had a negative net margin of 2.99% and a negative return on equity of 3.98%. Sell-side analysts expect that Atlanta Braves Holdings, Inc. will post -0.98 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Atlanta Braves by 0.8% during the first quarter. Vanguard Group Inc. now owns 594,802 shares of the financial services provider's stock worth $26,094,000 after purchasing an additional 4,959 shares in the last quarter. Roundview Capital LLC lifted its holdings in Atlanta Braves by 0.6% during the 2nd quarter. Roundview Capital LLC now owns 158,486 shares of the financial services provider's stock worth $7,799,000 after buying an additional 1,014 shares in the last quarter. Hudson Value Partners LLC lifted its holdings in Atlanta Braves by 0.7% during the 2nd quarter. Hudson Value Partners LLC now owns 87,901 shares of the financial services provider's stock worth $4,326,000 after buying an additional 596 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Atlanta Braves by 5,387.2% during the 1st quarter. GAMMA Investing LLC now owns 52,951 shares of the financial services provider's stock worth $23,230,000 after buying an additional 51,986 shares in the last quarter. Finally, HRT Financial LP raised its holdings in shares of Atlanta Braves by 600.4% in the 2nd quarter. HRT Financial LP now owns 48,679 shares of the financial services provider's stock valued at $2,395,000 after purchasing an additional 41,729 shares in the last quarter. 12.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Citigroup began coverage on shares of Atlanta Braves in a research report on Friday, June 13th. They set a "neutral" rating and a $45.00 price target on the stock. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $52.50.

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.

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