Gamco Investors INC. ET AL Has $57.64 Million Stock Holdings in Atlanta Braves Holdings, Inc. $BATRK

Gamco Investors INC. ET AL reduced its stake in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) by 4.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,385,803 shares of the financial services provider’s stock after selling 66,285 shares during the period. Gamco Investors INC. ET AL’s holdings in Atlanta Braves were worth $57,636,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Atlanta Braves by 1.0% in the third quarter. Vanguard Group Inc. now owns 2,472,019 shares of the financial services provider’s stock valued at $102,811,000 after purchasing an additional 23,694 shares in the last quarter. Harvey Partners LLC lifted its position in Atlanta Braves by 7.3% during the second quarter. Harvey Partners LLC now owns 709,386 shares of the financial services provider’s stock worth $33,178,000 after purchasing an additional 48,386 shares during the period. Dendur Capital LP acquired a new stake in Atlanta Braves during the second quarter worth about $20,111,000. HBK Investments L P increased its holdings in Atlanta Braves by 5.6% in the 2nd quarter. HBK Investments L P now owns 420,898 shares of the financial services provider’s stock valued at $19,685,000 after buying an additional 22,478 shares during the period. Finally, Highbridge Capital Management LLC increased its holdings in Atlanta Braves by 34.9% in the 3rd quarter. Highbridge Capital Management LLC now owns 393,633 shares of the financial services provider’s stock valued at $16,371,000 after buying an additional 101,765 shares during the period. Institutional investors own 64.88% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BATRK. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Atlanta Braves in a report on Monday, December 29th. Rosenblatt Securities reissued a “buy” rating and issued a $69.00 price objective on shares of Atlanta Braves in a research note on Thursday, February 26th. Wall Street Zen upgraded shares of Atlanta Braves from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Finally, Zacks Research upgraded Atlanta Braves from a “hold” rating to a “strong-buy” rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Atlanta Braves has a consensus rating of “Moderate Buy” and an average price target of $57.00.

Insider Transactions at Atlanta Braves

In related news, major shareholder John C. Malone acquired 35,000 shares of the stock in a transaction that occurred on Thursday, February 5th. The stock was acquired at an average cost of $44.23 per share, for a total transaction of $1,548,050.00. Following the transaction, the insider directly owned 521,862 shares in the company, valued at $23,081,956.26. This trade represents a 7.19% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 11.43% of the stock is currently owned by corporate insiders.

Atlanta Braves Stock Down 0.5%

Atlanta Braves stock opened at $43.74 on Friday. The stock has a market cap of $2.30 billion, a PE ratio of -112.15 and a beta of 0.55. 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 $41.01 and its two-hundred day moving average price is $40.73.

Atlanta Braves (NASDAQ:BATRK) last posted its earnings results on Wednesday, February 25th. The financial services provider reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.38. The company had revenue of $61.30 million during the quarter, compared to the consensus estimate of $54.93 million. As a group, analysts expect that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current year.

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.