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

GAMMA Investing LLC grew its holdings in Atlanta Braves Holdings, Inc. (NASDAQ:BATRA - Free Report) by 5,387.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 52,951 shares of the financial services provider's stock after acquiring an additional 51,986 shares during the quarter. GAMMA Investing LLC owned about 0.09% of Atlanta Braves worth $23,230,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. KLP Kapitalforvaltning AS purchased a new position in shares of Atlanta Braves during the fourth quarter worth about $53,000. BNP Paribas Financial Markets acquired a new stake in shares of Atlanta Braves in the 4th quarter valued at about $59,000. PNC Financial Services Group Inc. grew its stake in Atlanta Braves by 157.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,495 shares of the financial services provider's stock worth $61,000 after buying an additional 914 shares during the last quarter. SG Americas Securities LLC increased its position in Atlanta Braves by 25.6% during the fourth quarter. SG Americas Securities LLC now owns 4,711 shares of the financial services provider's stock worth $192,000 after buying an additional 959 shares during the period. Finally, Ionic Capital Management LLC acquired a new position in Atlanta Braves during the fourth quarter worth approximately $197,000. Hedge funds and other institutional investors own 12.31% of the company's stock.

Insider Buying and Selling

In other news, major shareholder John C. Malone purchased 2,760 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average price of $41.99 per share, for a total transaction of $115,892.40. Following the completion of the transaction, the insider now directly owns 214,118 shares in the company, valued at $8,990,814.82. This represents a 1.31% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Mario J. Gabelli acquired 1,549 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The stock was acquired at an average price of $43.45 per share, for a total transaction of $67,304.05. Following the completion of the transaction, the insider now directly owns 27,152 shares in the company, valued at approximately $1,179,754.40. This represents a 6.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 124,632 shares of company stock valued at $5,159,623 over the last ninety days. Corporate insiders own 4.83% of the company's stock.

Analysts Set New Price Targets

Separately, Benchmark reissued a "buy" rating and issued a $60.00 price objective on shares of Atlanta Braves in a report on Thursday, February 27th.

Atlanta Braves Stock Performance

NASDAQ:BATRA traded up $0.51 during trading hours on Friday, reaching $43.70. 38,351 shares of the company's stock were exchanged, compared to its average volume of 44,483. Atlanta Braves Holdings, Inc. has a 1-year low of $38.67 and a 1-year high of $46.65. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of -59.86 and a beta of 0.61. The company has a 50-day moving average of $43.16 and a 200 day moving average of $42.47.

Atlanta Braves (NASDAQ:BATRA - Get Free Report) last announced its earnings results on Monday, May 12th. The financial services provider reported ($0.66) earnings per share for the quarter, topping the consensus estimate of ($0.94) by $0.28. The business had revenue of $47.21 million during the quarter, compared to the consensus estimate of $36.87 million. Atlanta Braves had a negative net margin of 6.56% and a negative return on equity of 8.48%. Research analysts anticipate that Atlanta Braves Holdings, Inc. will post -0.98 EPS for the current year.

Atlanta Braves 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.