Wall Street Zen Downgrades Atlanta Braves (NASDAQ:BATRK) to Strong Sell

Atlanta Braves (NASDAQ:BATRK) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “strong sell” rating in a note issued to investors on Saturday.

A number of other equities analysts have also issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Atlanta Braves in a research report on Wednesday, June 24th. Morgan Stanley cut shares of Atlanta Braves from an “overweight” rating to an “equal weight” rating and set a $54.00 price target for the company. in a research note on Wednesday, July 15th. Zacks Research downgraded shares of Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Rosenblatt Securities dropped their price objective on shares of Atlanta Braves from $75.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $63.50.

Atlanta Braves Stock Performance

Atlanta Braves stock opened at $50.06 on Friday. The stock has a 50-day simple moving average of $50.94 and a 200-day simple moving average of $46.90. The company has a market capitalization of $2.65 billion, a P/E ratio of -49.56 and a beta of 0.68. Atlanta Braves has a fifty-two week low of $37.76 and a fifty-two week high of $53.25.

Atlanta Braves (NASDAQ:BATRK) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported ($0.19) EPS for the quarter, missing the consensus estimate of $0.31 by ($0.50). The business had revenue of $305.12 million during the quarter, compared to the consensus estimate of $319.00 million. As a group, analysts forecast that Atlanta Braves will post -0.37 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Lido Advisors LLC raised its position in Atlanta Braves by 5.1% in the third quarter. Lido Advisors LLC now owns 5,512 shares of the financial services provider’s stock worth $229,000 after acquiring an additional 269 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of Atlanta Braves by 0.7% during the 2nd quarter. California State Teachers Retirement System now owns 39,984 shares of the financial services provider’s stock worth $1,870,000 after purchasing an additional 285 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of Atlanta Braves by 4.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 6,745 shares of the financial services provider’s stock worth $266,000 after purchasing an additional 310 shares in the last quarter. Comerica Bank grew its stake in shares of Atlanta Braves by 44.8% during the 1st quarter. Comerica Bank now owns 1,031 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 319 shares during the period. Finally, Diversify Advisory Services LLC grew its stake in shares of Atlanta Braves by 2.0% during the 4th quarter. Diversify Advisory Services LLC now owns 16,743 shares of the financial services provider’s stock worth $671,000 after purchasing an additional 323 shares during the period. 64.88% of the stock is currently owned by institutional investors and hedge funds.

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.