Gamco Investors, Inc. Et Al Sells 1,100 Shares of Atlanta Braves (NASDAQ:BATRK) Stock

Key Points

• Gamco Investors, Inc. sold 1,100 shares of Atlanta Braves Holdings stock at an average price of $45.19, resulting in a 37.93% reduction in their overall position.
• After the sale, Gamco Investors holds 1,800 shares valued at approximately $81,342, and recent trading of Atlanta Braves stock showed a price of $41.22.
• Analysts have mixed ratings on Atlanta Braves stock, with an average target price of $57.00 and one firm raising its target to $69.00.

Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Get Free Report) major shareholder Gamco Investors, Inc. Et Al sold 1,100 shares of the business's stock in a transaction on Friday, September 19th. The shares were sold at an average price of $45.19, for a total transaction of $49,709.00. Following the sale, the insider directly owned 1,800 shares in the company, valued at approximately $81,342. This trade represents a 37.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

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

• On Thursday, September 18th, Gamco Investors, Inc. Et Al sold 800 shares of Atlanta Braves stock. The stock was sold at an average price of $45.49, for a total value of $36,392.00.

Atlanta Braves Stock Performance

Shares of BATRK stock traded up $0.14 on Monday, reaching $41.36. 253,345 shares of the company's stock traded hands, compared to its average volume of 332,137. The company has a market capitalization of $2.60 billion, a P/E ratio of -118.17 and a beta of 0.67. Atlanta Braves Holdings, Inc. has a 12-month low of $35.46 and a 12-month high of $47.18. The business's 50 day moving average price is $44.11 and its two-hundred day moving average price is $42.19.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last released its earnings results on Thursday, August 7th. The financial services provider reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.18). The business had revenue of $312.44 million during the quarter, compared to the consensus estimate of $296.36 million. Research analysts predict that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current year.

Analyst Ratings Changes

BATRK has been the topic of a number of research reports. Citigroup raised shares of Atlanta Braves to a "hold" rating and set a $45.00 price target on the stock in a research note on Friday, June 13th. Rosenblatt Securities raised their price target on Atlanta Braves from $52.00 to $69.00 and gave the stock a "buy" rating in a research note on Friday, June 20th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $57.00.

Institutional Trading of Atlanta Braves

Institutional investors and hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. grew its stake in Atlanta Braves by 38.1% in the 2nd quarter. Osaic Holdings Inc. now owns 1,464 shares of the financial services provider's stock valued at $68,000 after buying an additional 404 shares during the last quarter. Orion Porfolio Solutions LLC increased its stake in shares of Atlanta Braves by 1.4% in the second quarter. Orion Porfolio Solutions LLC now owns 39,244 shares of the financial services provider's stock worth $1,835,000 after purchasing an additional 557 shares during the period. State of Wyoming acquired a new position in shares of Atlanta Braves during the second quarter worth approximately $717,000. Tower Research Capital LLC TRC boosted its holdings in Atlanta Braves by 409.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,063 shares of the financial services provider's stock valued at $237,000 after purchasing an additional 4,070 shares during the period. Finally, Scopia Capital Management LP bought a new position in Atlanta Braves during the second quarter valued at about $8,755,000. 64.88% of the stock is currently owned by institutional investors and hedge funds.

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.