GABELLI & Co INVESTMENT ADVISERS INC. Sells 43,500 Shares of Atlanta Braves Holdings, Inc. $BATRK

GABELLI & Co INVESTMENT ADVISERS INC. cut its holdings in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) by 35.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 77,618 shares of the financial services provider’s stock after selling 43,500 shares during the quarter. GABELLI & Co INVESTMENT ADVISERS INC. owned approximately 0.15% of Atlanta Braves worth $3,314,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Troluce Capital Advisors LLC bought a new position in shares of Atlanta Braves in the fourth quarter worth about $21,043,000. Hawk Ridge Capital Management LP grew its holdings in shares of Atlanta Braves by 16.5% during the 4th quarter. Hawk Ridge Capital Management LP now owns 2,661,429 shares of the financial services provider’s stock valued at $104,993,000 after purchasing an additional 377,307 shares during the last quarter. Qube Research & Technologies Ltd grew its holdings in shares of Atlanta Braves by 504.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 436,158 shares of the financial services provider’s stock valued at $18,140,000 after purchasing an additional 363,953 shares during the last quarter. Vanguard Group Inc. increased its position in Atlanta Braves by 12.8% during the 4th quarter. Vanguard Group Inc. now owns 2,789,084 shares of the financial services provider’s stock worth $110,029,000 after purchasing an additional 317,065 shares in the last quarter. Finally, Broad Bay Capital Management LP increased its position in Atlanta Braves by 11.9% during the 4th quarter. Broad Bay Capital Management LP now owns 2,202,745 shares of the financial services provider’s stock worth $86,898,000 after purchasing an additional 233,771 shares in the last quarter. Institutional investors own 64.88% of the company’s stock.

Analysts Set New Price Targets

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

Atlanta Braves Price Performance

Shares of NASDAQ BATRK opened at $50.28 on Friday. The company has a 50 day simple moving average of $50.83 and a 200 day simple moving average of $46.11. Atlanta Braves Holdings, Inc. has a 1 year low of $37.76 and a 1 year high of $53.25. The firm has a market cap of $2.66 billion, a PE ratio of -139.67 and a beta of 0.68.

Atlanta Braves (NASDAQ:BATRK) last posted its earnings results on Monday, May 11th. The financial services provider reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.20. The business had revenue of $72.01 million for the quarter, compared to the consensus estimate of $64.60 million. As a group, research analysts anticipate that Atlanta Braves Holdings, Inc. will post -0.06 earnings per share for the current fiscal 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.