Insider Selling: Atlanta Braves (NASDAQ:BATRK) Major Shareholder Sells 500 Shares of Stock

Key Points

• Gamco Investors, Inc., a major shareholder of Atlanta Braves, sold 500 shares on September 26th for $45.51 each, totaling a transaction of $22,755, which reflects a 50% decrease in their ownership.
• Atlanta Braves Holdings, Inc. reported earnings of $0.46 per share for the last quarter, missing estimates of $0.64, while revenue was $312.44 million, surpassing expectations of $296.36 million.
• Following recent trades, institutional investors now own 64.88% of Atlanta Braves stock, with various firms increasing their stakes during the fourth quarter.

Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Get Free Report) major shareholder Gamco Investors, Inc. Et Al sold 500 shares of Atlanta Braves stock in a transaction on Friday, September 26th. The shares were sold at an average price of $45.51, for a total transaction of $22,755.00. Following the completion of the transaction, the insider owned 500 shares in the company, valued at approximately $22,755. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

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

• On Thursday, September 25th, Gamco Investors, Inc. Et Al sold 800 shares of Atlanta Braves stock. The stock was sold at an average price of $45.41, for a total value of $36,328.00.
• 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 Trading Down 0.1%

Shares of NASDAQ BATRK traded down $0.05 on Friday, reaching $41.01. 276,436 shares of the company traded hands, compared to its average volume of 299,530. Atlanta Braves Holdings, Inc. has a fifty-two week low of $35.46 and a fifty-two week high of $47.18. The company has a 50 day moving average of $43.81 and a 200 day moving average of $42.19. The stock has a market capitalization of $2.57 billion, a PE ratio of -117.17 and a beta of 0.67.

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

Analyst Ratings Changes

BATRK has been the subject of several research reports. Citigroup raised Atlanta Braves to a "hold" rating and set a $45.00 target price for the company in a research note on Friday, June 13th. Rosenblatt Securities raised their price objective on Atlanta Braves from $52.00 to $69.00 and gave the stock a "buy" rating in a research report on Friday, June 20th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Atlanta Braves presently has an average rating of "Moderate Buy" and a consensus price target of $57.00.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BATRK. Bank of America Corp DE increased its position in Atlanta Braves by 34.6% in the 4th quarter. Bank of America Corp DE now owns 75,907 shares of the financial services provider's stock worth $2,904,000 after buying an additional 19,529 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Atlanta Braves by 15.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,155 shares of the financial services provider's stock worth $5,171,000 after buying an additional 18,501 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in Atlanta Braves by 8.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,966 shares of the financial services provider's stock worth $228,000 after buying an additional 472 shares during the period. Wellington Management Group LLP increased its position in Atlanta Braves by 3.1% in the 4th quarter. Wellington Management Group LLP now owns 654,762 shares of the financial services provider's stock worth $25,051,000 after buying an additional 19,718 shares during the period. Finally, Central Pacific Bank Trust Division increased its position in Atlanta Braves by 31.8% in the 1st quarter. Central Pacific Bank Trust Division now owns 16,562 shares of the financial services provider's stock worth $663,000 after buying an additional 3,997 shares during the period. 64.88% of the stock is owned by institutional investors.

Atlanta Braves Company 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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