Atlanta Braves (NASDAQ:BATRK) Cut to “Sell” at Wall Street Zen
by Doug Wharley · The Cerbat GemWall Street Zen cut shares of Atlanta Braves (NASDAQ:BATRK – Free Report) from a hold rating to a sell rating in a research note issued to investors on Sunday.
A number of other analysts also recently commented on BATRK. Weiss Ratings reissued a “sell (d-)” rating on shares of Atlanta Braves in a research note on Friday, March 27th. Zacks Research raised shares of Atlanta Braves from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 5th. Finally, Rosenblatt Securities upped their price target on shares of Atlanta Braves from $69.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.00.
Check Out Our Latest Stock Report on Atlanta Braves
Atlanta Braves Trading Up 2.1%
Atlanta Braves stock opened at $45.24 on Friday. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of -116.00 and a beta of 0.53. The company’s 50-day moving average price is $42.85 and its two-hundred day moving average price is $40.77. Atlanta Braves has a 52 week low of $37.55 and a 52 week high of $47.18.
Atlanta Braves (NASDAQ:BATRK – Get Free Report) last released its earnings results on Wednesday, February 25th. The financial services provider reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.66) by $0.38. The company had revenue of $61.30 million for the quarter, compared to analyst estimates of $54.93 million. Research analysts expect that Atlanta Braves will post -0.89 earnings per share for the current fiscal year.
Insider Buying and Selling
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 purchased at an average price of $44.23 per share, with a total value of $1,548,050.00. Following the purchase, the insider owned 521,862 shares of the company’s stock, valued at approximately $23,081,956.26. This trade represents a 7.19% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.
Institutional Investors Weigh In On Atlanta Braves
Institutional investors have recently modified their holdings of the stock. Quent Capital LLC bought a new position in Atlanta Braves during the third quarter valued at about $28,000. EverSource Wealth Advisors LLC raised its holdings in Atlanta Braves by 956.1% during the second quarter. EverSource Wealth Advisors LLC now owns 697 shares of the financial services provider’s stock valued at $33,000 after buying an additional 631 shares in the last quarter. First Horizon Corp bought a new position in Atlanta Braves during the third quarter valued at about $30,000. Farther Finance Advisors LLC raised its holdings in Atlanta Braves by 701.1% during the third quarter. Farther Finance Advisors LLC now owns 761 shares of the financial services provider’s stock valued at $32,000 after buying an additional 666 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in Atlanta Braves by 218.3% during the third quarter. Jones Financial Companies Lllp now owns 799 shares of the financial services provider’s stock valued at $33,000 after buying an additional 548 shares in the last quarter. 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.