Gabelli Funds LLC Sells 83,512 Shares of Atlanta Braves Holdings, Inc. $BATRK

Gabelli Funds LLC cut its position in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) by 6.0% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,312,639 shares of the financial services provider’s stock after selling 83,512 shares during the period. Gabelli Funds LLC’s holdings in Atlanta Braves were worth $56,050,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BATRK. Comerica Bank lifted its stake in Atlanta Braves by 44.8% in the first quarter. Comerica Bank now owns 1,031 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 319 shares during the last quarter. AQR Capital Management LLC bought a new stake in Atlanta Braves in the first quarter valued at approximately $382,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Atlanta Braves by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,839 shares of the financial services provider’s stock worth $1,194,000 after acquiring an additional 1,302 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Atlanta Braves by 12,972.7% during the 1st quarter. Jones Financial Companies Lllp now owns 18,694 shares of the financial services provider’s stock worth $748,000 after acquiring an additional 18,551 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Atlanta Braves by 8.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 269,383 shares of the financial services provider’s stock valued at $10,778,000 after acquiring an additional 21,883 shares during the period. 64.88% of the stock is currently owned by institutional investors and hedge funds.

Atlanta Braves Price Performance

Shares of NASDAQ BATRK opened at $50.28 on Friday. The business has a fifty day moving average price of $50.83 and a two-hundred day moving average price of $46.11. The stock has a market capitalization of $2.66 billion, a PE ratio of -139.67 and a beta of 0.68. Atlanta Braves Holdings, Inc. has a fifty-two week low of $37.76 and a fifty-two week high of $53.25.

Atlanta Braves (NASDAQ:BATRK) last issued its quarterly earnings results on Monday, May 11th. The financial services provider reported ($0.63) EPS for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.20. The company had revenue of $72.01 million during the quarter, compared to the consensus estimate of $64.60 million. On average, equities analysts expect that Atlanta Braves Holdings, Inc. will post -0.06 EPS for the current year.

Analyst Ratings Changes

BATRK has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Atlanta Braves in a research report on Wednesday, June 24th. Rosenblatt Securities upped their price target on shares of Atlanta Braves from $69.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Zacks Research cut shares of Atlanta Braves from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Morgan Stanley downgraded shares of Atlanta Braves from an “overweight” rating to an “equal weight” rating and set a $54.00 price objective for the company. in a research report on Wednesday, July 15th. Finally, Wall Street Zen upgraded Atlanta Braves from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $64.50.

About Atlanta Braves

The Atlanta Braves Real Estate Ownership Trust (NASDAQ:BATRK) is a publicly traded real estate investment trust established in 2021 by Liberty Braves Group. The trust’s primary purpose is to own and manage a portfolio of sports and entertainment properties related to the Atlanta Braves baseball franchise. BATRK generates stable rental income by leasing its assets to the Braves Baseball Club, LLC, under long-term lease agreements designed to align property performance with franchise needs.

The trust’s portfolio is anchored by Truist Park, the 41,084-seat baseball stadium that has served as the Braves’ home since 2017.