GSA Capital Partners LLP Invests $900,000 in Atlanta Braves Holdings, Inc. (NASDAQ:BATRA)

Key Points

• GSA Capital Partners LLP invested approximately $900,000 in Atlanta Braves Holdings, acquiring 20,522 shares in the 1st quarter, marking a significant new position in the company.
• Citigroup has initiated coverage on Atlanta Braves with a "neutral" rating and a price target of $45.00 for the stock.
• The Atlanta Braves Holdings reported a quarterly earnings of ($0.66) per share, exceeding analysts' expectations, with revenues reaching $47.21 million for the quarter.

GSA Capital Partners LLP bought a new position in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRA - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 20,522 shares of the financial services provider's stock, valued at approximately $900,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in shares of Atlanta Braves during the fourth quarter valued at about $394,000. KLP Kapitalforvaltning AS acquired a new position in shares of Atlanta Braves during the fourth quarter valued at about $53,000. LPL Financial LLC acquired a new position in shares of Atlanta Braves during the fourth quarter valued at about $236,000. JPMorgan Chase & Co. grew its holdings in shares of Atlanta Braves by 69.0% during the fourth quarter. JPMorgan Chase & Co. now owns 49,972 shares of the financial services provider's stock valued at $2,039,000 after buying an additional 20,399 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Atlanta Braves by 7.7% during the fourth quarter. Renaissance Technologies LLC now owns 284,200 shares of the financial services provider's stock valued at $11,595,000 after buying an additional 20,200 shares during the last quarter. 12.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Citigroup initiated coverage on shares of Atlanta Braves in a report on Friday, June 13th. They set a "neutral" rating and a $45.00 price objective for the company.

Atlanta Braves Stock Down 1.0%

Shares of BATRA traded down $0.45 during trading hours on Friday, reaching $46.65. 41,375 shares of the stock traded hands, compared to its average volume of 37,385. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.40. The stock has a fifty day simple moving average of $47.31 and a 200 day simple moving average of $44.49. Atlanta Braves Holdings, Inc. has a 52 week low of $38.67 and a 52 week high of $50.50. The company has a market cap of $2.89 billion, a price-to-earnings ratio of -133.28 and a beta of 0.68.

Atlanta Braves (NASDAQ:BATRA - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The financial services provider reported ($0.66) earnings per share for the quarter, beating analysts' consensus estimates of ($0.94) by $0.28. Atlanta Braves had a negative net margin of 3.18% and a negative return on equity of 4.07%. The company had revenue of $47.21 million for the quarter, compared to analyst estimates of $36.87 million. On average, equities analysts forecast that Atlanta Braves Holdings, Inc. will post -0.98 EPS for the current year.

Insider Activity at Atlanta Braves

In other Atlanta Braves news, EVP Deretta C. Rhodes sold 5,000 shares of Atlanta Braves stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $41.20, for a total value of $206,000.00. Following the sale, the executive vice president owned 3,112 shares of the company's stock, valued at approximately $128,214.40. The trade was a 61.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Michael P. Plant sold 69,000 shares of Atlanta Braves stock in a transaction dated 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 sale, the executive vice president directly owned 205,593 shares in the company, valued at approximately $8,840,499. This represents a 25.13% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 217,372 shares of company stock worth $9,451,951. Insiders own 4.83% of the company's stock.

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.