Atlanta Braves (NASDAQ:BATRK) Cut to “Equal Weight” at Morgan Stanley

Morgan Stanley lowered shares of Atlanta Braves (NASDAQ:BATRK) from an overweight rating to an equal weight rating in a research report sent to investors on Wednesday morning, Marketbeat reports. They currently have $54.00 price target on the financial services provider’s stock.

Several other brokerages have also weighed in on BATRK. Rosenblatt Securities increased their target price on shares of Atlanta Braves from $69.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. Zacks Research lowered shares of Atlanta Braves from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Atlanta Braves in a research report on Wednesday, June 24th. Finally, Wall Street Zen upgraded shares of Atlanta Braves from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $64.50.

Atlanta Braves Trading Down 1.2%

NASDAQ BATRK opened at $51.66 on Wednesday. The stock has a market cap of $2.73 billion, a PE ratio of -143.50 and a beta of 0.68. Atlanta Braves has a twelve month low of $37.76 and a twelve month high of $53.25. The stock has a fifty day simple moving average of $50.83 and a 200-day simple moving average of $45.73.

Atlanta Braves (NASDAQ:BATRK) last issued its quarterly earnings data on Monday, May 11th. The financial services provider reported ($0.63) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.20. The business had revenue of $72.01 million for the quarter, compared to analyst estimates of $64.60 million. Research analysts predict that Atlanta Braves will post -0.06 EPS for the current year.

Hedge Funds Weigh In On Atlanta Braves

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Comerica Bank lifted its position in shares of Atlanta Braves by 44.8% during the first quarter. Comerica Bank now owns 1,031 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 319 shares in the last quarter. AQR Capital Management LLC acquired a new position in shares of Atlanta Braves in the first quarter valued at approximately $382,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Atlanta Braves by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,839 shares of the financial services provider’s stock worth $1,194,000 after buying an additional 1,302 shares during the period. Jones Financial Companies Lllp increased its stake in Atlanta Braves by 12,972.7% during the 1st quarter. Jones Financial Companies Lllp now owns 18,694 shares of the financial services provider’s stock worth $748,000 after buying an additional 18,551 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in Atlanta Braves by 8.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 269,383 shares of the financial services provider’s stock worth $10,778,000 after buying an additional 21,883 shares during the period. 64.88% of the stock is currently owned by hedge funds and other institutional investors.

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.