Atlanta Braves (NASDAQ:BATRK) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Atlanta Braves (NASDAQ:BATRK) from a sell rating to a hold rating in a report released on Saturday morning.

Other equities analysts have also issued reports about the stock. Rosenblatt Securities upped their price target on shares of Atlanta Braves from $69.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday. Weiss Ratings restated a “sell (d-)” rating on shares of Atlanta Braves in a research note on Friday, March 27th. Finally, Zacks Research raised shares of Atlanta Braves from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $60.00.

Atlanta Braves Price Performance

BATRK stock opened at $43.89 on Friday. The business’s 50-day moving average price is $42.22 and its 200-day moving average price is $40.63. The stock has a market cap of $2.31 billion, a P/E ratio of -112.54 and a beta of 0.53. Atlanta Braves has a twelve month low of $35.46 and a twelve month 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 (EPS) for the quarter, topping the consensus estimate of ($0.66) by $0.38. The firm had revenue of $61.30 million during the quarter, compared to analysts’ expectations of $54.93 million. On average, equities research analysts expect that Atlanta Braves will post -0.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Atlanta Braves news, major shareholder John C. Malone purchased 35,000 shares of the stock in a transaction that occurred on Thursday, February 5th. The shares were bought at an average cost of $44.23 per share, with a total value of $1,548,050.00. Following the acquisition, the insider 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 11.43% of the company’s stock.

Institutional Investors Weigh In On Atlanta Braves

Institutional investors have recently added to or reduced their stakes in the stock. Highbridge Capital Management LLC grew its stake in Atlanta Braves by 34.9% during the third quarter. Highbridge Capital Management LLC now owns 393,633 shares of the financial services provider’s stock valued at $16,371,000 after acquiring an additional 101,765 shares in the last quarter. Harvey Partners LLC increased its holdings in Atlanta Braves by 7.3% in the 2nd quarter. Harvey Partners LLC now owns 709,386 shares of the financial services provider’s stock valued at $33,178,000 after acquiring an additional 48,386 shares during the last quarter. Capula Management Ltd purchased a new stake in Atlanta Braves in the 3rd quarter worth $977,000. Vanguard Group Inc. boosted its holdings in shares of Atlanta Braves by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 2,472,019 shares of the financial services provider’s stock valued at $102,811,000 after purchasing an additional 23,694 shares during the last quarter. Finally, Mark Asset Management LP bought a new position in shares of Atlanta Braves during the 2nd quarter valued at about $1,239,000. 64.88% of the stock is owned by hedge funds and other institutional investors.

Atlanta Braves Company Profile

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.