Rosenblatt Securities Reaffirms “Buy” Rating for Atlanta Braves (NASDAQ:BATRK)

Atlanta Braves (NASDAQ:BATRK)‘s stock had its “buy” rating reiterated by stock analysts at Rosenblatt Securities in a report released on Thursday,Benzinga reports. They currently have a $69.00 price objective on the financial services provider’s stock. Rosenblatt Securities’ price objective would suggest a potential upside of 57.43% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Zacks Research downgraded shares of Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Atlanta Braves in a report on Monday, December 29th. Finally, Wall Street Zen raised Atlanta Braves from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Atlanta Braves currently has a consensus rating of “Hold” and an average price target of $57.00.

Atlanta Braves Trading Up 1.6%

Atlanta Braves stock opened at $43.83 on Thursday. The stock has a 50-day moving average price of $40.40 and a two-hundred day moving average price of $40.72. Atlanta Braves has a 12 month low of $35.46 and a 12 month high of $47.18. The company has a market capitalization of $2.26 billion, a PE ratio of -1,095.48 and a beta of 0.61.

Atlanta Braves (NASDAQ:BATRK) last released its quarterly earnings results on Wednesday, February 25th. The financial services provider reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.66) by $0.38. The firm had revenue of $61.30 million for the quarter, compared to the consensus estimate of $54.93 million. As a group, analysts predict 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 acquired 35,000 shares of the stock in a transaction dated Thursday, February 5th. The stock was purchased at an average cost of $44.23 per share, with a total value of $1,548,050.00. Following the transaction, the insider owned 521,862 shares in the company, valued at approximately $23,081,956.26. The trade was a 7.19% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 11.43% of the company’s stock.

Institutional Investors Weigh In On Atlanta Braves

Several large investors have recently added to or reduced their stakes in the business. Troluce Capital Advisors LLC acquired a new position in Atlanta Braves in the fourth quarter valued at approximately $21,043,000. Dendur Capital LP acquired a new stake in shares of Atlanta Braves during the 2nd quarter worth approximately $20,111,000. Hawk Ridge Capital Management LP increased its stake in shares of Atlanta Braves by 16.5% in the 4th quarter. Hawk Ridge Capital Management LP now owns 2,661,429 shares of the financial services provider’s stock valued at $104,993,000 after acquiring an additional 377,307 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in shares of Atlanta Braves by 504.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 436,158 shares of the financial services provider’s stock valued at $18,140,000 after acquiring an additional 363,953 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Atlanta Braves by 12.8% during the 4th quarter. Vanguard Group Inc. now owns 2,789,084 shares of the financial services provider’s stock valued at $110,029,000 after acquiring an additional 317,065 shares during the period. 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.