Gabelli Funds LLC Purchases 36,995 Shares of Atlanta Braves Holdings, Inc. $BATRA

Gabelli Funds LLC lifted its holdings in Atlanta Braves Holdings, Inc. (NASDAQ:BATRA) by 4.5% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 864,316 shares of the financial services provider’s stock after acquiring an additional 36,995 shares during the quarter. Gabelli Funds LLC owned 1.38% of Atlanta Braves worth $39,300,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Wedbush Securities Inc. bought a new position in shares of Atlanta Braves during the 2nd quarter valued at $208,000. MRP Capital Investments LLC bought a new stake in Atlanta Braves in the third quarter worth $1,022,000. State of Wyoming bought a new stake in Atlanta Braves in the second quarter worth $70,000. EverSource Wealth Advisors LLC boosted its position in Atlanta Braves by 1,873.1% during the second quarter. EverSource Wealth Advisors LLC now owns 513 shares of the financial services provider’s stock valued at $25,000 after buying an additional 487 shares during the period. Finally, R Squared Ltd bought a new position in shares of Atlanta Braves during the third quarter valued at about $455,000. Hedge funds and other institutional investors own 12.31% of the company’s stock.

Insider Buying and Selling

In other Atlanta Braves news, major shareholder John C. Malone purchased 35,000 shares of the stock in a transaction on Thursday, February 5th. The stock was acquired at an average price of $44.23 per share, with a total value of $1,548,050.00. Following the transaction, the insider directly owned 521,862 shares of the company’s stock, valued at approximately $23,081,956.26. This trade represents a 7.19% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 5.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BATRA has been the topic of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Atlanta Braves in a report on Wednesday, January 21st. Zacks Research upgraded Atlanta Braves from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $45.00.

Atlanta Braves Price Performance

Shares of Atlanta Braves stock opened at $48.46 on Friday. The company’s fifty day simple moving average is $44.87 and its two-hundred day simple moving average is $44.33. Atlanta Braves Holdings, Inc. has a 12-month low of $38.67 and a 12-month high of $50.50. The firm has a market cap of $3.05 billion, a PE ratio of -124.25 and a beta of 0.55. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 1.16.

Atlanta Braves (NASDAQ:BATRA) last posted its earnings results on Wednesday, February 25th. The financial services provider reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.46. The company had revenue of $61.30 million during the quarter, compared to analyst estimates of $54.93 million. Atlanta Braves had a negative net margin of 3.19% and a positive return on equity of 0.08%. As a group, equities analysts expect that Atlanta Braves Holdings, Inc. will post -0.98 EPS for the current year.

About Atlanta Braves

The Atlanta Braves (NASDAQ: BATRA) are a professional baseball club that competes in Major League Baseball’s National League East division. Founded in 1871 as the Boston Red Stockings, the franchise relocated to Milwaukee in 1953 before settling in Atlanta in 1966. As one of MLB’s oldest and most storied organizations, the Braves are responsible for fielding a Major League team, overseeing player development through a network of minor league affiliates, and managing baseball operations under the leadership of President of Baseball Operations Alex Anthopoulos.

Beyond on‐field performance, the Braves operate a diversified sports and entertainment business.