Levin Capital Strategies L.P. Buys Shares of 7,500 Atlanta Braves Holdings, Inc. (NASDAQ:BATRA)

Key Points

• Levin Capital Strategies L.P. has acquired 7,500 shares of Atlanta Braves Holdings, Inc. for approximately $329,000, indicating growing institutional interest in the stock.
• Insider trading activities included major shareholder Mario J. Gabelli purchasing 1,549 shares, while EVP Derek Gordon Schiller sold 30,000 shares, reflecting varied outlooks among key stakeholders.
• Atlanta Braves reported a quarterly loss of ($0.66) EPS but exceeded revenue expectations with $47.21 million, despite a negative net margin.

Levin Capital Strategies L.P. purchased a new position in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRA - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 7,500 shares of the financial services provider's stock, valued at approximately $329,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Congress Park Capital LLC acquired a new position in shares of Atlanta Braves during the first quarter worth $965,000. Hudson Value Partners LLC acquired a new position in Atlanta Braves in the 1st quarter worth about $3,830,000. GAMMA Investing LLC raised its position in Atlanta Braves by 25.1% in the first quarter. GAMMA Investing LLC now owns 1,207 shares of the financial services provider's stock valued at $53,000 after purchasing an additional 242 shares during the last quarter. Raymond James Financial Inc. bought a new position in Atlanta Braves in the fourth quarter valued at about $394,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Atlanta Braves during the fourth quarter valued at about $59,000. 12.31% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Atlanta Braves

In related news, major shareholder Mario J. Gabelli purchased 1,549 shares of Atlanta Braves stock in a transaction dated Wednesday, May 28th. The stock was bought at an average cost of $43.45 per share, for a total transaction of $67,304.05. Following the completion of the transaction, the insider owned 27,152 shares in the company, valued at $1,179,754.40. This trade represents a 6.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Derek Gordon Schiller sold 30,000 shares of the stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $45.50, for a total value of $1,365,000.00. Following the sale, the executive vice president directly owned 300,233 shares in the company, valued at $13,660,601.50. This trade represents a 9.08% 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. 4.83% of the stock is currently owned by company insiders.

Atlanta Braves Stock Performance

Shares of BATRA opened at $47.22 on Tuesday. The stock has a 50 day moving average of $47.39 and a 200 day moving average of $44.60. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of -134.91 and a beta of 0.68. Atlanta Braves Holdings, Inc. has a 12 month low of $38.67 and a 12 month high of $50.50. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.40.

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

Analyst Ratings Changes

Separately, Citigroup assumed coverage on Atlanta Braves in a research report on Friday, June 13th. They issued a "neutral" rating and a $45.00 price target on the 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.

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