Atlanta Braves (NASDAQ:BATRK) Price Target Raised to $91.00

Atlanta Braves (NASDAQ:BATRK) had its target price boosted by Rosenblatt Securities from $73.00 to $91.00 in a research note issued to investors on Thursday morning, Marketbeat Ratings reports. Rosenblatt Securities currently has a buy rating on the financial services provider’s stock.

A number of other equities analysts have also issued reports on BATRK. Weiss Ratings restated a “sell (d-)” rating on shares of Atlanta Braves in a research report on Monday, September 21st. Morgan Stanley downgraded 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 report on Wednesday, July 15th. Zacks Research cut shares of Atlanta Braves from a “hold” rating to a “strong sell” rating in a research note on Friday, November 6th. Finally, Wall Street Zen downgraded shares of Atlanta Braves from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $72.50.

Atlanta Braves Stock Performance

NASDAQ BATRK traded down $1.29 during trading hours on Thursday, hitting $51.06. The company had a trading volume of 334,774 shares, compared to its average volume of 472,299. Atlanta Braves has a 1-year low of $37.76 and a 1-year high of $54.86. The company has a market cap of $2.70 billion, a PE ratio of -38.39 and a beta of 0.67. The business has a 50 day moving average of $51.18 and a 200-day moving average of $48.63.

Atlanta Braves (NASDAQ:BATRK) last released its quarterly earnings results on Wednesday, November 4th. The financial services provider reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.33). The company had revenue of $324.63 million during the quarter, compared to analysts’ expectations of $348.00 million. Sell-side analysts expect that Atlanta Braves will post -0.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Derek Schiller sold 175,395 shares of Atlanta Braves stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $53.20, for a total value of $9,331,014.00. Following the sale, the executive vice president owned 316,908 shares of the company’s stock, valued at $16,859,505.60. The trade was a 35.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gregory Heller sold 80,263 shares of Atlanta Braves stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $53.89, for a total transaction of $4,325,373.07. Following the completion of the sale, the executive vice president directly owned 22,741 shares in the company, valued at approximately $1,225,512.49. The trade was a 77.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.43% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Atlanta Braves

Hedge funds have recently added to or reduced their stakes in the company. Fifth Third Bancorp acquired a new position in Atlanta Braves during the 1st quarter worth approximately $35,000. Sterling Capital Management LLC lifted its holdings in shares of Atlanta Braves by 838.9% in the 3rd quarter. Sterling Capital Management LLC now owns 1,643 shares of the financial services provider’s stock valued at $87,000 after buying an additional 1,468 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of Atlanta Braves by 25.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 2,656 shares of the financial services provider’s stock valued at $140,000 after buying an additional 537 shares during the period. Virtus Advisers LLC lifted its holdings in shares of Atlanta Braves by 16.8% in the 3rd quarter. Virtus Advisers LLC now owns 2,955 shares of the financial services provider’s stock valued at $156,000 after buying an additional 424 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Atlanta Braves by 22.7% in the first quarter. PNC Financial Services Group Inc. now owns 3,575 shares of the financial services provider’s stock valued at $153,000 after buying an additional 662 shares in the last quarter. Institutional investors and hedge funds own 64.88% of the company’s stock.

About Atlanta Braves

Atlanta Braves Holdings, Inc. owns and operates the Atlanta Braves, a professional baseball team in Major League Baseball’s National League. The organization generates business through its baseball operations and related activities, including ticket sales, sponsorships, broadcasting, concessions and merchandise. The Braves trace their history to the Boston Red Stockings, established in 1871, and are recognized as one of Major League Baseball’s oldest continuously operating franchises. The team moved to Milwaukee in 1953 and to Atlanta in 1966.