In a recent transaction, entities associated with renowned investor Mario J. Gabelli reported the acquisition of Series A common stock valued at $20,625 in Atlanta Braves Holdings, Inc. (NASDAQ:BATRA). The purchase, carried out at a price of $41.25 per share, involved a total of 500 shares.
This move is part of a series of transactions by companies linked to Gabelli, including GAMCO Investors, Inc., Associated Capital Group (NYSE:), Inc. and GGCP, INC., all of which are said to own 10% of the escort. The shares purchased are directly owned by Mario J. Gabelli, as indicated in the note to the filing.
The filing also revealed various holdings of Series A common stock by the entities, with Associated Capital Group, Inc. holding 2,550 shares and GGCP, Inc. owning 42,000 shares. Additionally, a set of limited partnerships, indirectly linked to the Gabelli companies, hold a significant number of shares, ranging from 3,800 to 20,000 shares per entity. These partnerships are noted to have less than 100% ownership in GAMCO Investors, Inc. and Associated Capital Group, Inc., and by extension, Mario J. Gabelli has less than 100% ownership in GGCP, Inc.
The reported transactions illustrate Gabelli Companies’ continued interest and investment in Atlanta Braves Holdings, Inc., reflecting a strategic position in the company’s stock. The signature on the document was provided by Douglas R. Jamieson, as attorney of Mario J. Gabelli and associated companies, and Peter D. Goldstein, General Counsel of GAMCO Investors, Inc.
Insights on InvestingPro
In light of its recent acquisition by entities associated with Mario J. Gabelli, Atlanta Braves Holdings, Inc. (NASDAQ:BATRA) has a mix of financial metrics that investors may find intriguing. With a market capitalization of $2.63 billion and a price-to-book ratio of 4.71 for the trailing twelve months ended Q4 2023, the company is positioned in a competitive market landscape.
Data from InvestingPro indicates that BATRA posted revenue growth of 8.85% over the trailing twelve months as of Q4 2023, but the company’s gross profit margins remain weak at 23.33%. This could be a concern for investors looking for stronger profitability indicators. Additionally, the company does not pay dividends, which could influence the investment decisions of income-focused shareholders.
Two tips from InvestingPro that may be particularly relevant to investors considering BATRA are: The company’s shares generally trade with low price volatility, which could appeal to investors looking for stability; and analyst forecasts that BATRA will not be profitable this year, which highlights the importance of a long-term investment horizon when dealing with such stocks.
For those interested in a more in-depth analysis, additional InvestingPro tips are available on the platform, including insights into BATRA’s debt levels and EBITDA valuation multiples. For a limited time, use the coupon code PRONEWS24 to get an additional 10% discount on an annual or two-year Pro and Pro+ subscription and unlock the full range of strategic insights.
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