Gabelli Funds LLC Has $58.15 Million Position in Atlanta Braves Holdings, Inc. $BATRK

Gabelli Funds LLC lessened its holdings in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) by 1.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,398,072 shares of the financial services provider’s stock after selling 22,331 shares during the period. Gabelli Funds LLC’s holdings in Atlanta Braves were worth $58,146,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Quent Capital LLC bought a new stake in Atlanta Braves during the 3rd quarter worth approximately $28,000. First Horizon Corp acquired a new stake in Atlanta Braves during the 3rd quarter worth approximately $30,000. Farther Finance Advisors LLC lifted its stake in Atlanta Braves by 701.1% in the third quarter. Farther Finance Advisors LLC now owns 761 shares of the financial services provider’s stock valued at $32,000 after buying an additional 666 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Atlanta Braves by 218.3% in the third quarter. Jones Financial Companies Lllp now owns 799 shares of the financial services provider’s stock valued at $33,000 after buying an additional 548 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Atlanta Braves by 956.1% in the second quarter. EverSource Wealth Advisors LLC now owns 697 shares of the financial services provider’s stock valued at $33,000 after buying an additional 631 shares during the period. 64.88% of the stock is currently owned by institutional investors and hedge funds.

Atlanta Braves Stock Performance

NASDAQ BATRK opened at $43.74 on Friday. Atlanta Braves Holdings, Inc. has a 52 week low of $35.46 and a 52 week high of $47.18. The stock’s 50 day moving average price is $41.01 and its two-hundred day moving average price is $40.73. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of -112.15 and a beta of 0.55.

Atlanta Braves (NASDAQ:BATRK) last issued its quarterly earnings results on Wednesday, February 25th. The financial services provider reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.66) by $0.38. The business had revenue of $61.30 million for the quarter, compared to the consensus estimate of $54.93 million. On average, equities research analysts forecast that Atlanta Braves Holdings, Inc. will post -0.89 EPS for the current year.

Insider Activity at Atlanta Braves

In other Atlanta Braves news, major shareholder John C. Malone bought 35,000 shares of Atlanta Braves stock in a transaction that occurred on Thursday, February 5th. The stock was acquired at an average price of $44.23 per share, for a total transaction of $1,548,050.00. Following the completion of the acquisition, the insider owned 521,862 shares of the company’s stock, valued at $23,081,956.26. This trade represents a 7.19% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 11.43% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

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.