Zacks Research Upgrades Atlanta Braves (NASDAQ:BATRK) to Strong-Buy

by · The Cerbat Gem

Atlanta Braves (NASDAQ:BATRK – Get Free Report) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Thursday,Zacks.com reports.

Several other equities analysts have also issued reports on BATRK. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Atlanta Braves in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of Atlanta Braves from a “hold” rating to a “sell” rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $57.00.

View Our Latest Analysis on Atlanta Braves

Atlanta Braves Stock Performance

Shares of BATRK traded down $0.16 during mid-day trading on Thursday, reaching $38.71. The company had a trading volume of 334,776 shares, compared to its average volume of 317,824. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of -967.51 and a beta of 0.61. The firm has a 50-day moving average price of $40.91 and a 200 day moving average price of $42.53. Atlanta Braves has a 52 week low of $35.46 and a 52 week high of $47.18.

Atlanta Braves (NASDAQ:BATRK – Get Free Report) last posted its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.23. The company had revenue of $311.54 million for the quarter, compared to the consensus estimate of $309.06 million. As a group, research analysts forecast that Atlanta Braves will post -0.89 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder John C. Malone purchased 840 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were purchased at an average price of $41.99 per share, with a total value of $35,271.60. Following the acquisition, the insider directly owned 372,547 shares in the company, valued at $15,643,248.53. The trade was a 0.23% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Gamco Investors, Inc. Et Al sold 1,100 shares of Atlanta Braves stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $45.19, for a total transaction of $49,709.00. Following the completion of the sale, the insider owned 1,800 shares of the company’s stock, valued at $81,342. This represents a 37.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,700 shares of company stock worth $167,859 in the last 90 days. Company insiders own 11.43% of the company’s stock.

Institutional Trading of Atlanta Braves

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Redmont Wealth Advisors LLC purchased a new position in shares of Atlanta Braves during the 3rd quarter worth $564,000. Advisors Capital Management LLC raised its holdings in Atlanta Braves by 8.2% in the 3rd quarter. Advisors Capital Management LLC now owns 98,551 shares of the financial services provider’s stock worth $4,099,000 after purchasing an additional 7,428 shares during the period. Vanguard Group Inc. raised its holdings in Atlanta Braves by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 2,472,019 shares of the financial services provider’s stock worth $102,811,000 after purchasing an additional 23,694 shares during the period. JPMorgan Chase & Co. lifted its position in Atlanta Braves by 46.4% during the third quarter. JPMorgan Chase & Co. now owns 204,929 shares of the financial services provider’s stock valued at $8,523,000 after purchasing an additional 64,968 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D grew its holdings in Atlanta Braves by 5.1% during the third quarter. State of New Jersey Common Pension Fund D now owns 48,552 shares of the financial services provider’s stock valued at $2,019,000 after purchasing an additional 2,367 shares during the period. 64.88% of the stock is owned by hedge funds and other institutional investors.

About Atlanta Braves

(Get Free Report)

Atlanta Braves Holdings, Inc owns and operates the Atlanta Braves Major league baseball club. It also operates mixed-use development project, including retail, office, hotel, and entertainment projects. The company was incorporated in 2022 and is based in Englewood, Colorado.

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