Breaking News: Gabelli Mario J buys $12,450 in Atlanta Braves holdings stock

 

GREENWICH, CT—In a recent transaction, Mario J. Gabelli, a ten percent owner through various entities, has acquired shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRA). According to a Form 4 filing with the Securities and Exchange Commission, Gabelli purchased 300 shares of Series A common stock at a price of $41.50 per share, totaling $12,450. This acquisition increases his indirect ownership through Limited Partnership V to 2,800 shares.

Gabelli’s investment in Atlanta Braves Holdings is part of a broader portfolio managed by his associated entities, including GAMCO Investors, Inc., Associated Capital Group (NYSE:AC), Inc., and GGCP, Inc. These entities collectively hold significant stakes in various securities, reflecting Gabelli’s ongoing interest in the sports and entertainment industry.

The transaction was executed on November 22, 2024, and was disclosed in the filing submitted on November 25, 2024. The shares are held indirectly, with the nature of ownership attributed to Limited Partnership V, among other partnerships. Each entity within this structure has varying levels of interest, as detailed in the footnotes of the filing.

While the purchase reflects a modest increase in Gabelli’s holdings, it underscores his commitment to maintaining a substantial position in Atlanta Braves Holdings. Investors often view insider transactions as a signal of confidence in a company’s future prospects.

 

 

In other recent news, Liberty Media Corporation has announced a significant corporate restructuring aiming to create a separate public entity by splitting off its Liberty Live Group. The restructuring will involve the reattribution of the subsidiary Quint from the Formula One Group to the Liberty Live Group. The proposed split-off is subject to various conditions, including approval from holders of Series A and Series B Liberty Live common stock and a favorable opinion from tax counsel. The transaction is anticipated to be completed in the second half of 2025.

On the other hand, Atlanta Braves Holdings reported increased total revenue for Q3 2024, reaching $291 million, despite a decrease in operating income and adjusted OIBDA, largely due to rising player salaries. The company’s cash position remains robust, standing at $100.9 million. The management, led by President and CEO Terry McGuirk, underscored their commitment to strategic growth, including improvements to the fan experience at Truist Park and the adjacent Battery Atlanta.

In response to analyst Matthew Harrigan’s queries, the company reiterated its advocacy for sports betting regulation in Georgia and indicated an exploration of new media opportunities for fan engagement. These recent developments reflect the company’s commitment to revenue growth, asset value creation, and long-term success.

 

InvestingPro Insights

Mario J. Gabelli’s recent acquisition of Atlanta Braves Holdings, Inc. (NASDAQ:BATRA) shares comes at a time when the company’s financial metrics present a mixed picture. According to InvestingPro data, BATRA’s market capitalization stands at $2.61 billion, reflecting its significant presence in the sports and entertainment industry.

Despite Gabelli’s investment, which may signal confidence, InvestingPro Tips highlight some challenges facing the company. One tip notes that BATRA “suffers from weak gross profit margins,” which is corroborated by the data showing a gross profit margin of 20.73% for the last twelve months as of Q3 2023. This relatively low margin could be a concern for potential investors looking for robust profitability.

Another InvestingPro Tip indicates that BATRA “operates with a moderate level of debt.” This factor, combined with the tip that “short term obligations exceed liquid assets,” suggests that the company’s financial position may require careful management in the near term.

On a positive note, the company has shown some revenue growth, with a 5.31% increase over the last twelve months as of Q3 2023. However, this growth is tempered by the fact that BATRA is “not profitable over the last twelve months,” as pointed out by another InvestingPro Tip.

For investors considering following Gabelli’s lead, it’s worth noting that InvestingPro offers 7 additional tips that could provide further insights into BATRA’s investment potential. These additional tips, available with an InvestingPro subscription, could offer a more comprehensive view of the company’s financial health and market position.

 

The Atlanta Braves Holdings, Inc. stock presents a complex investment case, with Gabelli’s insider purchase potentially signaling long-term value despite current financial challenges. As always, investors should conduct thorough due diligence, considering both insider activity and fundamental analysis before making investment decisions.

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