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

Key Points

• Gamco Investors, Inc. Et Al, a major shareholder of Atlanta Braves Holdings, sold 800 shares of stock on September 18th at an average price of $45.49, reducing their ownership by 21.62% to 2,900 shares.
• As of the latest trading, Atlanta Braves stock is down 1.2%, with shares reaching $41.22, and the company has a market capitalization of $2.59 billion.
• The stock currently has an average analyst rating of "Moderate Buy" and a consensus target price of $57.00, with recent upgrades from several research analysts.

Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Get Free Report) major shareholder Gamco Investors, Inc. Et Al sold 800 shares of the business's stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $45.49, for a total transaction of $36,392.00. Following the sale, the insider owned 2,900 shares of the company's stock, valued at approximately $131,921. This represents a 21.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own more than 10% 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 Friday, September 19th, Gamco Investors, Inc. Et Al sold 1,100 shares of Atlanta Braves stock. The stock was sold at an average price of $45.19, for a total transaction of $49,709.00.

Atlanta Braves Stock Performance

Shares of BATRK stock traded up $0.14 during mid-day trading on Monday, reaching $41.36. 253,345 shares of the company's stock traded hands, compared to its average volume of 332,137. The firm has a 50 day moving average price of $44.11 and a two-hundred day moving average price of $42.19. The firm has a market capitalization of $2.60 billion, a PE 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.

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

Hedge Funds Weigh In On Atlanta Braves

Several institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP boosted its stake in Atlanta Braves by 105.9% in the first quarter. Wellington Management Group LLP now owns 1,348,113 shares of the financial services provider's stock valued at $53,938,000 after acquiring an additional 693,351 shares in the last quarter. Dendur Capital LP purchased a new position in Atlanta Braves during the 2nd quarter worth $20,111,000. Irenic Capital Management LP purchased a new position in Atlanta Braves during the 1st quarter worth $15,794,000. Broad Bay Capital Management LP grew its stake in Atlanta Braves by 24.3% during the 1st quarter. Broad Bay Capital Management LP now owns 1,732,882 shares of the financial services provider's stock worth $69,333,000 after buying an additional 338,655 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Atlanta Braves during the 1st quarter worth $12,077,000. 64.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BATRK has been the subject of a number of recent analyst reports. Rosenblatt Securities upped their price objective on Atlanta Braves from $52.00 to $69.00 and gave the stock a "buy" rating in a research note on Friday, June 20th. Citigroup upgraded Atlanta Braves to a "hold" rating and set a $45.00 price target on the stock in a report on Friday, June 13th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.00.

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.