Atlanta Braves (NASDAQ:BATRK) Upgraded at Zacks Research

Zacks Research upgraded shares of Atlanta Braves (NASDAQ:BATRK) from a hold rating to a strong-buy rating in a research note released on Thursday morning,Zacks.com reports.

A number of other equities analysts also recently commented on BATRK. Wall Street Zen upgraded Atlanta Braves from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Rosenblatt Securities reiterated a “buy” rating and set a $69.00 price target on shares of Atlanta Braves in a report on Thursday, February 26th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Atlanta Braves in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $57.00.

Atlanta Braves Trading Down 0.5%

Shares of NASDAQ BATRK opened at $43.74 on Thursday. The stock has a market cap of $2.30 billion, a PE ratio of -112.15 and a beta of 0.55. Atlanta Braves has a 12-month low of $35.46 and a 12-month high of $47.18. The company has a 50-day moving average of $41.01 and a 200 day moving average of $40.71.

Atlanta Braves (NASDAQ:BATRK) last released its earnings results on Wednesday, February 25th. The financial services provider reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.38. The business had revenue of $61.30 million during the quarter, compared to analysts’ expectations of $54.93 million. On average, sell-side analysts forecast that Atlanta Braves will post -0.89 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder John C. Malone acquired 35,000 shares of Atlanta Braves stock in a transaction that occurred on Thursday, February 5th. The shares were purchased at an average cost of $44.23 per share, for a total transaction of $1,548,050.00. Following the acquisition, the insider owned 521,862 shares in the company, valued at approximately $23,081,956.26. This represents a 7.19% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 11.43% of the company’s stock.

Institutional Investors Weigh In On Atlanta Braves

A number of institutional investors have recently made changes to their positions in BATRK. Vanguard Group Inc. boosted its position in shares of Atlanta Braves by 12.8% during the 4th quarter. Vanguard Group Inc. now owns 2,789,084 shares of the financial services provider’s stock worth $110,029,000 after purchasing an additional 317,065 shares during the period. Hawk Ridge Capital Management LP boosted its position in shares of Atlanta Braves by 16.5% during the fourth quarter. Hawk Ridge Capital Management LP now owns 2,661,429 shares of the financial services provider’s stock worth $104,993,000 after buying an additional 377,307 shares during the period. Broad Bay Capital Management LP grew its stake in shares of Atlanta Braves by 11.9% in the fourth quarter. Broad Bay Capital Management LP now owns 2,202,745 shares of the financial services provider’s stock valued at $86,898,000 after buying an additional 233,771 shares in the last quarter. CI Investments Inc. grew its stake in shares of Atlanta Braves by 1.0% in the fourth quarter. CI Investments Inc. now owns 1,699,739 shares of the financial services provider’s stock valued at $67,055,000 after buying an additional 16,404 shares in the last quarter. Finally, Gamco Investors INC. ET AL boosted its holdings in Atlanta Braves by 1.2% during the 2nd quarter. Gamco Investors INC. ET AL now owns 1,452,088 shares of the financial services provider’s stock valued at $67,914,000 after acquiring an additional 16,663 shares during the period. 64.88% of the stock is currently owned by institutional investors and hedge funds.

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.