GAMMA Investing LLC Boosts Stock Position in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK)

GAMMA Investing LLC boosted its holdings in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) by 9,017.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,482 shares of the financial services provider's stock after buying an additional 9,378 shares during the period. GAMMA Investing LLC's holdings in Atlanta Braves were worth $3,790,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Atlanta Braves by 5.5% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,501 shares of the financial services provider's stock valued at $440,000 after purchasing an additional 604 shares during the last quarter. ABC Arbitrage SA bought a new position in Atlanta Braves during the 4th quarter worth approximately $204,000. Rhumbline Advisers grew its position in Atlanta Braves by 16.8% during the 4th quarter. Rhumbline Advisers now owns 80,240 shares of the financial services provider's stock worth $3,070,000 after acquiring an additional 11,554 shares during the last quarter. State of New Jersey Common Pension Fund D grew its position in Atlanta Braves by 12.7% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 52,050 shares of the financial services provider's stock worth $1,991,000 after acquiring an additional 5,877 shares during the last quarter. Finally, Truist Financial Corp grew its position in Atlanta Braves by 5.2% during the 4th quarter. Truist Financial Corp now owns 10,892 shares of the financial services provider's stock worth $417,000 after acquiring an additional 535 shares during the last quarter. Institutional investors own 64.88% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Citigroup assumed coverage on Atlanta Braves in a research report on Friday. They set a "neutral" rating and a $45.00 price target on the stock. Wall Street Zen upgraded Atlanta Braves from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd.

Atlanta Braves Stock Performance

Shares of BATRK traded down $0.65 on Friday, reaching $42.51. The stock had a trading volume of 244,550 shares, compared to its average volume of 286,045. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of -58.23 and a beta of 0.54. The company has a 50-day simple moving average of $40.08 and a 200-day simple moving average of $39.38. Atlanta Braves Holdings, Inc. has a 12-month low of $35.46 and a 12-month high of $44.43.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The financial services provider reported ($0.66) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.94) by $0.28. The company had revenue of $47.21 million for the quarter, compared to analysts' expectations of $36.87 million. On average, analysts expect that Atlanta Braves Holdings, Inc. will post -0.89 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Derek Gordon Schiller sold 72,505 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $43.00, for a total transaction of $3,117,715.00. Following the sale, the executive vice president now directly owns 300,233 shares of the company's stock, valued at $12,910,019. This trade represents a 19.45% decrease in their ownership of the stock. The transaction 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 firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $43.00, for a total value of $2,967,000.00. Following the completion of the transaction, the executive vice president now directly owns 205,593 shares in the company, valued at $8,840,499. The trade was a 25.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders acquired 121,872 shares of company stock valued at $5,043,730 and sold 147,272 shares valued at $6,322,139. Corporate insiders own 11.43% of the company's stock.

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.