Atlanta Braves’ (BATRK) Buy Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Atlanta Braves (NASDAQ:BATRK) in a research report report published on Thursday,Benzinga reports. The firm currently has a $69.00 price target on the financial services provider’s stock.

A number of other research analysts also recently issued reports on BATRK. Wall Street Zen upgraded Atlanta Braves from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Atlanta Braves in a report on Monday, December 29th. Finally, Zacks Research lowered shares of Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $57.00.

Atlanta Braves Stock Performance

Atlanta Braves stock opened at $43.71 on Thursday. Atlanta Braves has a fifty-two week low of $35.46 and a fifty-two week high of $47.18. The firm’s 50-day simple moving average is $40.56 and its 200 day simple moving average is $40.71. The stock has a market cap of $2.26 billion, a PE ratio of -112.07 and a beta of 0.61.

Atlanta Braves (NASDAQ:BATRK) last announced its earnings results on Wednesday, February 25th. The financial services provider reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.38. The business had revenue of $61.30 million during the quarter, compared to analysts’ expectations of $54.93 million. As a group, analysts predict that Atlanta Braves will post -0.89 EPS for the current fiscal year.

Insider Buying and Selling at Atlanta Braves

In other news, major shareholder John C. Malone acquired 35,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The stock was bought at an average price 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 $23,081,956.26. The trade was a 7.19% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 11.43% of the company’s stock.

Institutional Trading of Atlanta Braves

Hedge funds and other institutional investors have recently bought and sold shares of the company. Troluce Capital Advisors LLC bought a new position in Atlanta Braves in the 4th quarter valued at $21,043,000. Dendur Capital LP purchased a new stake in shares of Atlanta Braves in the second quarter worth $20,111,000. Hawk Ridge Capital Management LP boosted its stake in Atlanta Braves by 16.5% during the fourth 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 buying an additional 377,307 shares during the period. Qube Research & Technologies Ltd grew its position in Atlanta Braves by 504.1% during the third quarter. Qube Research & Technologies Ltd now owns 436,158 shares of the financial services provider’s stock worth $18,140,000 after buying an additional 363,953 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Atlanta Braves by 12.8% in the 4th quarter. Vanguard Group Inc. now owns 2,789,084 shares of the financial services provider’s stock worth $110,029,000 after acquiring an additional 317,065 shares during the last quarter. Institutional investors own 64.88% of the company’s stock.

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.