Gamco Investors INC. ET AL Sells 22,251 Shares of Atlanta Braves Holdings, Inc. $BATRK

Key Points

• Gamco Investors Inc. has reduced its holdings in Atlanta Braves Holdings by 1.5%, selling 22,251 shares in the first quarter, leaving them with approximately 2.80% of the company valued at $57.4 million.
• Other hedge funds, including CWM LLC and Comerica Bank, have significantly increased their stakes in Atlanta Braves during the same period, showcasing a mixed interest from institutional investors.
• Analysts have raised their price targets for Atlanta Braves, with Rosenblatt Securities setting a new target of $69.00 and a "buy" rating, indicating a positive outlook for the company despite recent earnings misses.

Gamco Investors INC. ET AL reduced its stake in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) by 1.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,435,425 shares of the financial services provider's stock after selling 22,251 shares during the quarter. Gamco Investors INC. ET AL owned about 2.80% of Atlanta Braves worth $57,431,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Stifel Financial Corp boosted its position in shares of Atlanta Braves by 4.9% during the fourth quarter. Stifel Financial Corp now owns 6,007 shares of the financial services provider's stock valued at $230,000 after buying an additional 280 shares during the period. CWM LLC boosted its position in shares of Atlanta Braves by 56.4% during the first quarter. CWM LLC now owns 824 shares of the financial services provider's stock valued at $33,000 after buying an additional 297 shares during the period. US Bancorp DE boosted its position in shares of Atlanta Braves by 10.4% during the first quarter. US Bancorp DE now owns 3,160 shares of the financial services provider's stock valued at $126,000 after buying an additional 298 shares during the period. LPL Financial LLC boosted its position in shares of Atlanta Braves by 4.1% during the fourth quarter. LPL Financial LLC now owns 7,580 shares of the financial services provider's stock valued at $290,000 after buying an additional 302 shares during the period. Finally, Comerica Bank boosted its position in shares of 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 buying an additional 319 shares during the period. 64.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on BATRK shares. Citigroup upgraded Atlanta Braves to a "hold" rating and set a $45.00 target price for the company in a research report on Friday, June 13th. Rosenblatt Securities boosted their target price on Atlanta Braves from $52.00 to $69.00 and gave the company a "buy" rating in a research report on Friday, June 20th. Finally, Wall Street Zen upgraded Atlanta Braves from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $57.00.

Insider Buying and Selling

In related news, EVP Derek Gordon Schiller sold 30,000 shares of the business's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $45.50, for a total value of $1,365,000.00. Following the completion of the transaction, the executive vice president owned 300,233 shares of the company's stock, valued at $13,660,601.50. The trade was a 9.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Michael P. Plant sold 69,000 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $43.00, for a total transaction of $2,967,000.00. Following the completion of the transaction, the executive vice president directly owned 205,593 shares of the company's stock, valued at $8,840,499. This trade represents a 25.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold 211,605 shares of company stock valued at $9,214,527 in the last quarter. 11.43% of the stock is owned by company insiders.

Atlanta Braves Trading Up 0.1%

Shares of NASDAQ BATRK traded up $0.04 during trading hours on Friday, reaching $44.98. The stock had a trading volume of 287,383 shares, compared to its average volume of 250,462. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of -128.51 and a beta of 0.67. The business's fifty day moving average price is $45.44 and its two-hundred day moving average price is $41.91. Atlanta Braves Holdings, Inc. has a 52-week low of $35.46 and a 52-week high of $47.18.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last announced its quarterly 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 company had revenue of $312.44 million during the quarter, compared to analysts' expectations of $296.36 million. Equities research analysts anticipate that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current fiscal year.

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.