Investment firm GAMCO Investors, Inc., alongside related entities, has made a notable purchase in the stock of Atlanta Braves Holdings, Inc. (NASDAQ:BATRA), according to a recent SEC filing. The transaction, executed on May 31, 2024, involved the acquisition of 500 shares at a price of $41.4 each, amounting to a total investment of $20,700.
The purchase was made by Mario J. Gabelli, a prominent investor, through various entities including GAMCO Investors, Inc., Associated Capital Group (NYSE:AC), Inc., and GGCP, INC. Each of these entities is reported to be a more than ten percent owner of the stock, underscoring the significance of their investment moves.
The shares are directly owned by Mario J. Gabelli, as stated in the filing. Additionally, Associated Capital Group, Inc. holds 5,550 shares, and GGCP, Inc. owns 42,000 shares of Atlanta Braves Holdings, Inc. Other holdings include indirect ownership through various limited partnerships, with the total number of shares owned by these partnerships amounting to 55,800. The indirect ownership is due to the less than 100% interest that GAMCO Investors, Inc. and Associated Capital Group, Inc. have in these entities, as clarified in the footnotes of the SEC filing.
The transaction reflects a continued interest and stake by Gabelli and his firms in the company, which is classified under the amusement and recreation services industry. Atlanta Braves Holdings, Inc. is known for its ownership of the Atlanta Braves, a Major League Baseball team.
Investors often monitor the buying and selling activities of significant shareholders like Mario Gabelli for insights into their confidence in the company's prospects. The recent acquisition by Gabelli's entities might be interpreted as a positive signal regarding the future performance of Atlanta Braves Holdings, Inc.
The filing was signed off by Douglas R. Jamieson, as Attorney-In-Fact for Mario J. Gabelli and the related entities, and by Peter D. Goldstein, General Counsel for GAMCO Investors, Inc.
InvestingPro Insights
In light of the recent acquisition by Mario J. Gabelli and related entities of Atlanta Braves Holdings, Inc. (NASDAQ:BATRA) shares, a deeper look into the company's financial metrics and performance is warranted. According to InvestingPro data, Atlanta Braves Holdings, Inc. has a market capitalization of $2.61 billion and is trading at a high Price / Book multiple of 5.26 as of the last twelve months ending Q1 2024. Despite a revenue growth of 8.16% over the same period, the company's gross profit margin stands at 22.7%, which reflects some of the challenges it faces in terms of profitability.
Further insights from InvestingPro reveal that Atlanta Braves Holdings, Inc. has a negative P/E ratio of -21.03, indicating that analysts do not expect the company to be profitable this year. This aligns with the InvestingPro Tip that the company has not been profitable over the last twelve months. Additionally, the firm's short-term obligations exceed its liquid assets, which could raise concerns regarding its liquidity position.
For investors considering a deeper analysis of Atlanta Braves Holdings, Inc., there are additional InvestingPro Tips available at https://www.investing.com/pro/BATRA. These tips include observations on the company's low price volatility and moderate level of debt, among others. Currently, InvestingPro lists a total of 9 additional tips that could provide valuable context for understanding the company's financial health and investment potential. Interested readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering a comprehensive suite of tools and insights for informed investment decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.