Atlanta Braves (NASDAQ:BATRK) Major Shareholder Sells $36,328.00 in Stock

Key Points

• Gamco Investors, Inc. Et Al, a major shareholder in Atlanta Braves Holdings, sold 800 shares of the company’s stock for $36,328 on September 25th, reducing their ownership by 44.44%.
• Atlanta Braves Holdings reported earnings per share of $0.46 in their last financial results, missing analysts' consensus estimates of $0.64.
• Hedge funds and institutional investors have recently increased their stakes in Atlanta Braves, with EverSource Wealth Advisors raising their holdings by 956.1% in the second quarter.

Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Get Free Report) major shareholder Gamco Investors, Inc. Et Al sold 800 shares of the company's stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $45.41, for a total transaction of $36,328.00. Following the completion of the transaction, the insider directly owned 1,000 shares of the company's stock, valued at approximately $45,410. The trade was a 44.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Large 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 Friday, September 26th, Gamco Investors, Inc. Et Al sold 500 shares of Atlanta Braves stock. The stock was sold at an average price of $45.51, for a total transaction of $22,755.00.
• 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

NASDAQ:BATRK traded down $0.05 on Friday, hitting $41.01. 276,436 shares of the company's stock were exchanged, compared to its average volume of 299,530. The firm has a 50-day moving average price of $43.81 and a 200-day moving average price of $42.19. Atlanta Braves Holdings, Inc. has a 52 week low of $35.46 and a 52 week high of $47.18. The company has a market cap of $2.57 billion, a P/E ratio of -117.17 and a beta of 0.67.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last issued its earnings results on Thursday, August 7th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.64 by ($0.18). The firm had revenue of $312.44 million for the quarter, compared to the consensus estimate of $296.36 million. On average, research analysts expect that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on BATRK. Citigroup upgraded shares of Atlanta Braves to a "hold" rating and set a $45.00 price target on the stock in a research note on Friday, June 13th. Rosenblatt Securities increased their price target on shares of Atlanta Braves from $52.00 to $69.00 and gave the stock a "buy" rating in a research report on Friday, June 20th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.00.

Institutional Investors Weigh In On Atlanta Braves

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its holdings in Atlanta Braves by 956.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 697 shares of the financial services provider's stock worth $33,000 after purchasing an additional 631 shares in the last quarter. CWM LLC increased its stake in Atlanta Braves by 56.4% during the 1st quarter. CWM LLC now owns 824 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 297 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in Atlanta Braves during the 2nd quarter valued at about $45,000. Comerica Bank boosted its holdings in shares of Atlanta Braves by 44.8% during the 1st quarter. Comerica Bank now owns 1,031 shares of the financial services provider's stock valued at $41,000 after acquiring an additional 319 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its holdings in shares of Atlanta Braves by 38.1% during the 2nd quarter. Osaic Holdings Inc. now owns 1,464 shares of the financial services provider's stock valued at $68,000 after acquiring an additional 404 shares during the last quarter. 64.88% of the stock is currently owned by institutional investors.

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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