Atlanta Braves (NASDAQ:BATRK) Upgraded at Wall Street Zen

Atlanta Braves (NASDAQ:BATRK) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

BATRK has been the subject of several other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Atlanta Braves in a research report on Monday. Zacks Research upgraded Atlanta Braves from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $69.00 price objective on shares of Atlanta Braves in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $57.00.

Atlanta Braves Trading Up 0.1%

Shares of NASDAQ BATRK opened at $38.64 on Friday. The stock has a fifty day moving average price of $39.60 and a 200 day moving average price of $42.33. Atlanta Braves has a 12-month low of $35.46 and a 12-month high of $47.18. The company has a market cap of $1.99 billion, a P/E ratio of -965.76 and a beta of 0.62.

Atlanta Braves (NASDAQ:BATRK) last posted its earnings results on Wednesday, November 5th. The financial services provider reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.23. The firm had revenue of $311.54 million for the quarter, compared to analyst estimates of $309.06 million. On average, sell-side analysts forecast that Atlanta Braves will post -0.89 EPS for the current fiscal year.

Insiders Place Their Bets

In other Atlanta Braves news, major shareholder Gamco Investors, Inc. Et Al sold 1,100 shares of the stock in a transaction on Friday, September 19th. The stock was sold at an average price of $45.19, for a total value of $49,709.00. Following the sale, the insider directly owned 1,800 shares of the company’s stock, valued at $81,342. This trade represents a 37.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder John C. Malone purchased 28,567 shares of Atlanta Braves stock in a transaction dated Monday, November 17th. The shares were purchased at an average cost of $41.97 per share, with a total value of $1,198,956.99. Following the acquisition, the insider owned 479,972 shares of the company’s stock, valued at approximately $20,144,424.84. This trade represents a 6.33% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have purchased 67,236 shares of company stock valued at $2,822,097 and have sold 3,700 shares valued at $167,859. 11.43% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Atlanta Braves

A number of institutional investors and hedge funds have recently bought and sold shares of BATRK. CIBC Private Wealth Group LLC raised its position in shares of Atlanta Braves by 104.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,357 shares of the financial services provider’s stock worth $98,000 after buying an additional 1,202 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Atlanta Braves in the third quarter valued at approximately $34,000. OmniStar Financial Group Inc. acquired a new position in shares of Atlanta Braves during the third quarter valued at approximately $264,000. Dark Forest Capital Management LP bought a new stake in Atlanta Braves during the third quarter worth approximately $2,453,000. Finally, PharVision Advisers LLC bought a new stake in Atlanta Braves during the third quarter worth approximately $348,000. Institutional investors own 64.88% of the company’s stock.

About Atlanta Braves

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.