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Mario Gabelli’s firms buy $20,625 in Atlanta Braves Holdings stock By Investing.com

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In a recent transaction, entities associated with renowned investor Mario J. Gabelli have reported the acquisition of $20,625 worth of Series A Common Stock in Atlanta Braves Holdings, Inc. (NASDAQ:BATRA). The purchase, executed at a price of $41.25 per share, involved a total of 500 shares.

This move is part of a series of transactions by firms linked to Gabelli, including GAMCO Investors, Inc., Associated Capital Group (NYSE:), Inc., and GGCP, INC., all of which are reported to be ten percent owners of the stock. The shares purchased are directly owned by Mario J. Gabelli, as indicated in the filing footnotes.

The filing also disclosed various holdings in Series A Common Stock by the entities, with Associated Capital Group, Inc. holding 2,550 shares and GGCP, Inc. owning 42,000 shares. Moreover, a collection of limited partnerships, indirectly connected to Gabelli’s firms, hold significant numbers of shares, ranging from 3,800 to 20,000 shares per entity. These partnerships are noted to have less than a 100% interest in GAMCO Investors, Inc. and Associated Capital Group, Inc., and by extension, Mario J. Gabelli has less than a 100% interest in GGCP, Inc.

The reported transactions showcase the continued interest and investment by Gabelli’s firms in Atlanta Braves Holdings, Inc., reflecting a strategic position in the company’s stock. The signature on the filing was provided by Douglas R. Jamieson, acting as Attorney-In-Fact for Mario J. Gabelli and the associated companies, and Peter D. Goldstein, General Counsel for GAMCO Investors, Inc.

InvestingPro Insights

In light of the recent acquisition by entities associated with Mario J. Gabelli, Atlanta Braves Holdings, Inc. (NASDAQ:BATRA) presents 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 as of the last twelve months ending Q4 2023, the company is positioned in a competitive market landscape.

InvestingPro data indicates that BATRA has experienced a revenue growth of 8.85% over the last twelve months as of Q4 2023, yet the company’s gross profit margins remain weak at 23.33%. This could be a point of concern for investors looking for stronger profitability indicators. Additionally, the company does not distribute dividends, which might influence the investment decisions of income-focused shareholders.

Two InvestingPro Tips that could be particularly relevant for investors considering BATRA are: the company’s stock generally trades with low price volatility, which might appeal to investors seeking stability; and the analysts’ outlook that BATRA will not be profitable this year, which underscores the importance of a long-term investment horizon when dealing with such stocks.

For those interested in a deeper analysis, there are additional InvestingPro Tips available on the platform, including insights on BATRA’s debt levels and EBITDA valuation multiples. For a limited time, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and unlock the full spectrum of strategic insights.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.





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Ex-Post Office boss regrets ‘missed opportunity’ to halt Horizon scandal

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“On reflection, and I have reflected on this very hard, when I finished being the Horizon programme director [in early 2000] it would have been very beneficial if I had notified both the lawyers and the [investigations team] that Horizon was a new system coming in, and that they should be very cautious about evidence coming out of that system,” he said.



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Sri Lanka’s economic crisis and debt restructuring efforts By Reuters

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COLOMBO (Reuters) – Sri Lanka’s government rejected a proposal from its international bondholders on Tuesday on restructuring the more than $12 billion the country owes to them.

It means a near two-year spell in default will drag on for Sri Lanka and that the country’s next tranche of vital IMF support money could potentially get delayed.

Below is a timeline of the key events in the crisis and the efforts to resolve it:

2021-2022: Sri Lanka’s economy crumbles after years of overspending leaves its foreign exchange reserves critically low and the government unable to pay for essentials, such as fuel and medicine.

The country’s bonds suffer from multiple downgrades by credit rating agencies warning of the increasing risk of default. At the start of 2022 it manages to make a $500 million bond payment but it leaves its foreign exchange reserves precariously low.

MAY, 2022 – Sri Lanka is declared in default after it fails to make a smaller $78 million bond coupon payment.

JULY, 2022 – Public anger drives protesters to storm then-President Gotabaya Rajapaksa’s office and residence. Rajapaksa flees to the Maldives, before moving on to Singapore.

Current President Ranil Wickremesinghe is voted into power by Sri Lankan lawmakers.

MARCH, 2023 – The International Monetary Fund approves a near $3 billion bailout for Sri Lanka after talks with Wickremesinghe’s government and assurances about its plans to repair the country’s finances.

OCTOBER, 2023

Sri Lanka announces an agreement with China’s EXIM (export/import) Bank to delay payments on about $4.2 billion worth of loans the Chinese lender it has extended to the country.

NOVEMBER, 2023

Other creditor nations including India, Japan and France agree to restructure about $5.9 billion in debt.

MARCH, 2024

A group of Sri Lankan officials arrives in London to meet with a number of investment funds that hold its more than $12 billion worth of government bonds. Talks advance to the key “restricted” phase where proposals are discussed privately and those involved agree not to buy or sell any of the debt on the open market.

© Reuters. FILE PHOTO: A general view of the main business district as rain clouds gather above in Colombo, Sri Lanka, November 17, 2020. REUTERS/Dinuka Liyanawatte/File Photo

APRIL, 2024

The government rejects a proposal tabled by the bondholders. The main stumbling blocks are that some the “baseline” assumptions used differ to those of the IMF and that the plan did not include a contingency option for the government in case the economy fails to recover as expected.





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AI could gobble up a quarter of all electricity in the U.S. by 2030 if it doesn’t break its addiction

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Before artificial intelligence can transform society, the technology will first have to learn how to live within its means.

Right now generative AI have an “insatiable demand” for electricity to power the tens of thousands of compute clusters needed to operate large language models like OpenAI’s GPT-4, warned chief marketing officer Ami Badani from chip design company Arm Holdings. 

If generative AI is ever going to be able to run on every mobile device from a laptop and tablet to a smartphone, it will have to be able to scale without overwhelming the electricity grid at the same time.

“We won’t be able to continue the advancements of AI without addressing power,” Badani told Fortune’s Brainstorm AI conference in London on Monday. “ChatGPT requires 15 times more energy than a traditional web search.” 

Not only are more businesses using generative AI, but the tech industry is in a race to develop new and more powerful tools that will mean compute demand is only going to grow—and power consumption with it, unless something can be done. 

The latest breakthrough from OpenAI, the company behind ChatGPT, is Sora. It can create super realistic or stylized clips of video footage up to 60 seconds in length purely based on user text prompts. 

The marvel of GenAI comes at a steep cost

“It takes a 100,000 AI chips working at full compute capacity and full power consumption in order to train Sora,” Badani said. “That’s a huge amount.” 

Data centers, where most AI models are trained, currently account for 2% of global electricity consumption, according to Badani. But with generative AI expected to go mainstream, she predicts it could end up devouring a quarter of all power in the United States in 2030.

The solution to this conundrum is to develop semiconductor chips that are optimized to run on a minimum of energy.

That’s where Arm comes in: its RISC processor designs currently run on 99% of all smartphones, as opposed to the rival x86 architecture developed by Intel. The latter has been a standard for desktop PCs, but proved too inefficient to run battery-powered handheld devices like smartphones and tablets. 

Arm is adopting that same design philosophy for AI.

“If you think about AI, it comes with a cost,” Badani said, “and that cost is unfortunately power.”  

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