Atlanta Braves (NASDAQ:BATRK) Downgraded to Strong Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Atlanta Braves (NASDAQ:BATRK) from a hold rating to a strong sell rating in a report issued on Saturday.

Several other research analysts have also recently issued reports on the company. Morgan Stanley cut Atlanta Braves from an “overweight” rating to an “equal weight” rating and set a $54.00 price objective on the stock. in a research note on Wednesday, July 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Atlanta Braves in a research report on Wednesday, June 24th. Zacks Research lowered Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Rosenblatt Securities decreased their price objective on Atlanta Braves from $75.00 to $73.00 and set a “buy” rating for the company in a report on Friday. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $63.50.

Atlanta Braves Price Performance

Atlanta Braves stock opened at $50.06 on Friday. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of -49.56 and a beta of 0.68. Atlanta Braves has a 1 year low of $37.76 and a 1 year high of $53.25. The firm has a 50-day moving average of $50.94 and a two-hundred day moving average of $46.85.

Atlanta Braves (NASDAQ:BATRK) last issued its earnings results on Wednesday, August 5th. The financial services provider reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.50). The firm had revenue of $305.12 million for the quarter, compared to analyst estimates of $319.00 million. Research analysts expect that Atlanta Braves will post -0.37 earnings per share for the current year.

Hedge Funds Weigh In On Atlanta Braves

Large investors have recently bought and sold shares of the business. Global Trust Asset Management LLC purchased a new stake in Atlanta Braves during the first quarter worth $26,000. EverSource Wealth Advisors LLC increased its holdings in shares of Atlanta Braves by 956.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 697 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 631 shares during the period. Advisory Services Network LLC purchased a new position in shares of Atlanta Braves in the 3rd quarter valued at $34,000. Fifth Third Bancorp purchased a new position in shares of Atlanta Braves in the 1st quarter valued at $35,000. Finally, Comerica Bank raised its position in shares of Atlanta Braves by 44.8% in the 1st quarter. Comerica Bank now owns 1,031 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 319 shares in the last quarter. Institutional investors 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.