Gamco Investors, Inc. Et Al Sells 800 Shares of Atlanta Braves (NASDAQ:BATRA) Stock

Key Points

• Gamco Investors, Inc. sold a total of 2,400 shares of Atlanta Braves stock over several transactions in September 2023, with recent sales indicating a 44.44% decrease in their ownership.
• Atlanta Braves Holdings, Inc. reported earnings of $0.46 per share for the last quarter, surpassing analysts' expectations, while also showing a negative return on equity of -3.98%.
• The stock currently has a Moderate Buy rating with an average target price of $52.50, according to market analysts.

Atlanta Braves Holdings, Inc. (NASDAQ:BATRA - Get Free Report) major shareholder Gamco Investors, Inc. Et Al sold 800 shares of Atlanta Braves stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $45.41, for a total transaction of $36,328.00. Following the sale, the insider owned 1,000 shares of the company's stock, valued at approximately $45,410. The trade was a 44.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

Gamco Investors, Inc. Et Al also recently made the following trade(s):

• On Friday, September 26th, Gamco Investors, Inc. Et Al sold 500 shares of Atlanta Braves stock. The shares were sold at an average price of $45.51, for a total transaction of $22,755.00.
• On Friday, September 19th, Gamco Investors, Inc. Et Al sold 1,100 shares of Atlanta Braves stock. The shares were sold at an average price of $45.19, for a total transaction of $49,709.00.
• On Thursday, September 18th, Gamco Investors, Inc. Et Al sold 800 shares of Atlanta Braves stock. The shares were sold at an average price of $45.49, for a total transaction of $36,392.00.

Atlanta Braves Price Performance

Shares of BATRA stock traded down $0.21 during midday trading on Friday, reaching $45.30. 48,521 shares of the company traded hands, compared to its average volume of 53,838. The firm's 50 day simple moving average is $46.95 and its two-hundred day simple moving average is $45.45. Atlanta Braves Holdings, Inc. has a 1-year low of $38.67 and a 1-year high of $50.50. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a market cap of $2.84 billion, a PE ratio of -129.43 and a beta of 0.68.

Atlanta Braves (NASDAQ:BATRA - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.12. Atlanta Braves had a negative return on equity of 3.98% and a negative net margin of 2.99%.The firm had revenue of $312.44 million during the quarter, compared to the consensus estimate of $295.86 million. On average, equities research analysts expect that Atlanta Braves Holdings, Inc. will post -0.98 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Citigroup assumed coverage on Atlanta Braves in a research report on Friday, June 13th. They set a "neutral" rating and a $45.00 price objective for the company. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $52.50.

Hedge Funds Weigh In On Atlanta Braves

A number of institutional investors have recently added to or reduced their stakes in BATRA. BNP Paribas Financial Markets acquired a new position in Atlanta Braves in the 4th quarter worth $59,000. Bank of America Corp DE raised its stake in shares of Atlanta Braves by 13.4% in the 4th quarter. Bank of America Corp DE now owns 20,004 shares of the financial services provider's stock valued at $816,000 after purchasing an additional 2,367 shares in the last quarter. Nuveen Asset Management LLC raised its stake in shares of Atlanta Braves by 1.5% in the 4th quarter. Nuveen Asset Management LLC now owns 36,354 shares of the financial services provider's stock valued at $1,483,000 after purchasing an additional 540 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in Atlanta Braves during the fourth quarter worth about $210,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Atlanta Braves by 11.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,107 shares of the financial services provider's stock worth $698,000 after acquiring an additional 1,696 shares during the period. Institutional investors and hedge funds own 12.31% 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.