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 acquired a new position in Atlanta Braves Holdings, Inc. (NASDAQ:BATRA - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 20,522 shares of the financial services provider's stock, valued at approximately $900,000.

A number of other large investors have also modified their holdings of BATRA. Raymond James Financial Inc. bought a new position in Atlanta Braves in the 4th quarter valued at about $394,000. KLP Kapitalforvaltning AS bought a new position in Atlanta Braves in the 4th quarter valued at about $53,000. LPL Financial LLC bought a new position in Atlanta Braves in the 4th quarter valued at about $236,000. JPMorgan Chase & Co. boosted its position in shares of Atlanta Braves by 69.0% during the 4th quarter. JPMorgan Chase & Co. now owns 49,972 shares of the financial services provider's stock valued at $2,039,000 after purchasing an additional 20,399 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Atlanta Braves by 7.7% during the 4th quarter. Renaissance Technologies LLC now owns 284,200 shares of the financial services provider's stock valued at $11,595,000 after purchasing an additional 20,200 shares in the last quarter. Institutional investors and hedge funds own 12.31% of the company's stock.

Wall Street Analyst Weigh In

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

Atlanta Braves Price Performance

Shares of NASDAQ:BATRA traded up $1.08 during trading hours on Monday, hitting $47.73. 7,139 shares of the company's stock traded hands, compared to its average volume of 55,798. Atlanta Braves Holdings, Inc. has a 52 week low of $38.67 and a 52 week high of $50.50. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.78 and a current ratio of 0.78. The company's fifty day simple moving average is $47.31 and its two-hundred day simple moving average is $44.55. The company has a market cap of $2.95 billion, a price-to-earnings ratio of -136.35 and a beta of 0.68.

Atlanta Braves (NASDAQ:BATRA - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The financial services provider reported ($0.66) EPS 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 during the quarter, compared to analyst estimates of $36.87 million. As a group, equities analysts anticipate that Atlanta Braves Holdings, Inc. will post -0.98 EPS for the current fiscal year.

Insider Activity

In related news, EVP Derek Gordon Schiller sold 30,000 shares of the firm'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 transaction of $1,365,000.00. Following the transaction, the executive vice president owned 300,233 shares of the company's stock, valued at approximately $13,660,601.50. This trade represents a 9.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael P. Plant sold 69,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $43.00, for a total transaction of $2,967,000.00. Following the transaction, the executive vice president directly owned 205,593 shares in the company, valued at approximately $8,840,499. The trade was a 25.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 217,372 shares of company stock valued at $9,451,951 over the last ninety days. Corporate insiders own 4.83% of the company's stock.

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.