Atlanta Braves (NASDAQ:BATRK) Given New $75.00 Price Target at Rosenblatt Securities

Atlanta Braves (NASDAQ:BATRK) had its price objective increased by Rosenblatt Securities from $69.00 to $75.00 in a research note released on Thursday,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

A number of other research firms also recently commented on BATRK. Wall Street Zen downgraded Atlanta Braves from a “hold” rating to a “sell” rating in a research note on Saturday, March 14th. Zacks Research raised shares of Atlanta Braves from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Atlanta Braves in a research report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Atlanta Braves currently has an average rating of “Moderate Buy” and an average price target of $60.00.

Atlanta Braves Price Performance

Atlanta Braves stock opened at $43.89 on Thursday. The firm has a market cap of $2.31 billion, a PE ratio of -112.54 and a beta of 0.53. The stock’s fifty day moving average price is $42.13 and its two-hundred day moving average price is $40.62. Atlanta Braves has a one year low of $35.46 and a one year high of $47.18.

Atlanta Braves (NASDAQ:BATRK) last released its earnings results on Wednesday, February 25th. The financial services provider reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.38. The company had revenue of $61.30 million for the quarter, compared to the consensus estimate of $54.93 million. Sell-side analysts expect that Atlanta Braves will post -0.89 earnings per share for the current fiscal year.

Insider Transactions at Atlanta Braves

In other news, major shareholder John C. Malone bought 35,000 shares of the stock in a transaction on Thursday, February 5th. The stock was acquired at an average price of $44.23 per share, with a total value of $1,548,050.00. Following the acquisition, the insider directly owned 521,862 shares in the company, valued at approximately $23,081,956.26. This trade represents a 7.19% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 11.43% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Quent Capital LLC bought a new position in Atlanta Braves in the 3rd quarter valued at approximately $28,000. First Horizon Corp bought a new stake in Atlanta Braves during the 3rd quarter worth approximately $30,000. Farther Finance Advisors LLC increased its position in Atlanta Braves by 701.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 761 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 666 shares during the period. Jones Financial Companies Lllp increased its position in Atlanta Braves by 218.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 799 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 548 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Atlanta Braves by 956.1% during the second quarter. EverSource Wealth Advisors LLC now owns 697 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 631 shares during the last quarter. Institutional investors and hedge funds own 64.88% of the company’s stock.

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.