Atlanta Braves (NASDAQ:BATRK) Stock Rating Lowered by Morgan Stanley

Atlanta Braves (NASDAQ:BATRK) was downgraded by research analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research note issued on Wednesday, MarketBeat.com reports. They presently have a $54.00 price target on the financial services provider’s stock. Morgan Stanley’s target price would indicate a potential upside of 3.31% from the company’s previous close.

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

Atlanta Braves Trading Up 1.9%

Shares of BATRK stock opened at $52.27 on Wednesday. The stock has a market cap of $2.76 billion, a P/E ratio of -145.19 and a beta of 0.68. The stock has a 50 day simple moving average of $50.81 and a 200 day simple moving average of $45.69. Atlanta Braves has a 1 year low of $37.76 and a 1 year high of $53.25.

Atlanta Braves (NASDAQ:BATRK) last announced its quarterly earnings data on Monday, May 11th. The financial services provider reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.83) by $0.20. The company had revenue of $72.01 million during the quarter, compared to analyst estimates of $64.60 million. Analysts forecast that Atlanta Braves will post 0.02 EPS for the current year.

Hedge Funds Weigh In On Atlanta Braves

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

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.