Atlanta Braves (NASDAQ:BATRK) Stock Rating Lowered by Zacks Research

Atlanta Braves (NASDAQ:BATRK) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts also recently commented on the stock. Rosenblatt Securities raised their price objective on shares of Atlanta Braves from $69.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Atlanta Braves in a research report on Friday, March 27th. Finally, Wall Street Zen downgraded shares of Atlanta Braves from a “hold” rating to a “sell” rating in a research report on Sunday, April 12th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $60.00.

Atlanta Braves Trading Down 1.7%

Shares of NASDAQ BATRK traded down $0.86 during midday trading on Monday, reaching $48.85. 51,300 shares of the company were exchanged, compared to its average volume of 360,255. Atlanta Braves has a 1 year low of $37.76 and a 1 year high of $50.33. The stock has a fifty day simple moving average of $44.26 and a 200 day simple moving average of $41.28. The stock has a market cap of $2.57 billion, a P/E ratio of -125.24 and a beta of 0.53.

Atlanta Braves (NASDAQ:BATRK) last released its quarterly earnings results on Wednesday, February 25th. The financial services provider reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.38. The company had revenue of $61.30 million for the quarter, compared to analysts’ expectations of $54.93 million. As a group, analysts forecast that Atlanta Braves will post 0.09 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder John C. Malone acquired 35,000 shares of Atlanta Braves stock in a transaction that occurred on Thursday, February 5th. The stock was purchased at an average price of $44.23 per share, for a total transaction of $1,548,050.00. Following the completion of the transaction, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Institutional Investors Weigh In On Atlanta Braves

Hedge funds and other institutional investors have recently modified their holdings of the stock. Global Trust Asset Management LLC acquired a new stake in shares of Atlanta Braves during the 1st quarter valued at approximately $26,000. Quent Capital LLC acquired a new stake in shares of Atlanta Braves during the 3rd quarter valued at approximately $28,000. First Horizon Corp acquired a new stake in shares of Atlanta Braves during the 3rd quarter valued at approximately $30,000. Farther Finance Advisors LLC lifted its position in shares of Atlanta Braves by 701.1% during 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. Finally, Jones Financial Companies Lllp lifted its position in shares of Atlanta Braves by 218.3% during 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. 64.88% of the stock is currently owned by institutional investors and hedge funds.

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.