Zacks Research Upgrades Atlanta Braves (NASDAQ:BATRA) to “Strong-Buy”

Atlanta Braves (NASDAQ:BATRA) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Atlanta Braves in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $45.00.

Atlanta Braves Stock Down 0.1%

BATRA stock opened at $48.35 on Monday. The company has a market cap of $3.04 billion, a price-to-earnings ratio of -123.97 and a beta of 0.55. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.42 and a current ratio of 0.42. The business’s 50-day moving average is $44.52 and its two-hundred day moving average is $44.25. Atlanta Braves has a fifty-two week low of $38.67 and a fifty-two week high of $50.50.

Atlanta Braves (NASDAQ:BATRA) last released its quarterly earnings results on Wednesday, February 25th. The financial services provider reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.74) by $0.46. The firm had revenue of $61.30 million during the quarter, compared to analyst estimates of $54.93 million. Atlanta Braves had a negative net margin of 3.19% and a positive return on equity of 0.08%. As a group, analysts forecast that Atlanta Braves will post -0.98 earnings per share for the current year.

Insider Transactions at Atlanta Braves

In other news, major shareholder John C. Malone bought 35,000 shares of the firm’s stock in a transaction on Thursday, February 5th. The shares were bought at an average price of $44.23 per share, for a total transaction of $1,548,050.00. Following the purchase, the insider owned 521,862 shares in the company, valued at approximately $23,081,956.26. The trade was a 7.19% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.90% of the company’s stock.

Institutional Trading of Atlanta Braves

A number of hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC bought a new stake in shares of Atlanta Braves during the 1st quarter valued at $211,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Atlanta Braves by 4.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,061 shares of the financial services provider’s stock worth $266,000 after buying an additional 234 shares in the last quarter. Jane Street Group LLC bought a new stake in Atlanta Braves during the first quarter valued at about $385,000. Nisa Investment Advisors LLC raised its holdings in Atlanta Braves by 48.5% during the second quarter. Nisa Investment Advisors LLC now owns 1,007 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 329 shares during the period. Finally, Wedbush Securities Inc. purchased a new position in shares of Atlanta Braves in the second quarter valued at about $208,000. 12.31% of the stock is owned by hedge funds and other institutional investors.

Atlanta Braves Company Profile

The Atlanta Braves (NASDAQ: BATRA) are a professional baseball club that competes in Major League Baseball’s National League East division. Founded in 1871 as the Boston Red Stockings, the franchise relocated to Milwaukee in 1953 before settling in Atlanta in 1966. As one of MLB’s oldest and most storied organizations, the Braves are responsible for fielding a Major League team, overseeing player development through a network of minor league affiliates, and managing baseball operations under the leadership of President of Baseball Operations Alex Anthopoulos.

Beyond on‐field performance, the Braves operate a diversified sports and entertainment business.