Gabelli Funds LLC Sells 22,331 Shares of Atlanta Braves Holdings, Inc. $BATRK

Gabelli Funds LLC decreased its holdings in shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) by 1.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,398,072 shares of the financial services provider’s stock after selling 22,331 shares during the quarter. Gabelli Funds LLC owned about 2.71% of Atlanta Braves worth $58,146,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Quent Capital LLC acquired a new position in Atlanta Braves in the third quarter valued at approximately $28,000. EverSource Wealth Advisors LLC grew its holdings in Atlanta Braves by 956.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 697 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 631 shares during the period. First Horizon Corp bought a new stake in shares of Atlanta Braves during the 3rd quarter valued at $30,000. Farther Finance Advisors LLC raised its position in shares of Atlanta Braves by 701.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 761 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 666 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in shares of Atlanta Braves by 218.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 799 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 548 shares during the period. 64.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Atlanta Braves

In other Atlanta Braves news, major shareholder John C. Malone acquired 35,000 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The shares were acquired at an average price of $44.23 per share, with a total value of $1,548,050.00. Following the purchase, the insider owned 521,862 shares of the company’s stock, valued at $23,081,956.26. This represents a 7.19% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 11.43% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Atlanta Braves Stock Performance

Shares of 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 company has a market capitalization of $2.30 billion, a PE ratio of -112.15 and a beta of 0.55. The company has a 50 day moving average price of $41.01 and a two-hundred day moving average price of $40.73.

Atlanta Braves (NASDAQ:BATRK) last announced its quarterly earnings results on Wednesday, February 25th. The financial services provider reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.38. The firm had revenue of $61.30 million for the quarter, compared to the consensus estimate of $54.93 million. On average, sell-side analysts forecast 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.