Atlanta Braves (NASDAQ:BATRK) Rating Increased to Strong-Buy at Zacks Research

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

Several other research analysts have also weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Atlanta Braves in a report on Monday, December 29th. Rosenblatt Securities restated a “buy” rating and issued a $69.00 target price on shares of Atlanta Braves in a report on Thursday, February 26th. Finally, Wall Street Zen raised shares of Atlanta Braves from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.00.

Atlanta Braves Stock Down 0.5%

Shares of NASDAQ:BATRK traded down $0.24 during midday trading on Thursday, reaching $43.74. The company’s stock had a trading volume of 272,790 shares, compared to its average volume of 353,400. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of -112.15 and a beta of 0.55. The business has a 50 day moving average price of $41.01 and a 200 day moving average price of $40.73. Atlanta Braves has a 1 year low of $35.46 and a 1 year high of $47.18.

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 the consensus estimate of ($0.66) by $0.38. The business had revenue of $61.30 million for the quarter, compared to analysts’ expectations of $54.93 million. Sell-side analysts anticipate that Atlanta Braves will post -0.89 earnings per share for the current fiscal year.

Insider Activity at Atlanta Braves

In other news, major shareholder John C. Malone acquired 35,000 shares of Atlanta Braves stock in a transaction dated Thursday, February 5th. The shares were acquired at an average cost of $44.23 per share, with a total value of $1,548,050.00. Following the purchase, the insider directly owned 521,862 shares of the company’s stock, valued at approximately $23,081,956.26. This trade represents a 7.19% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 11.43% of the stock is currently owned by company insiders.

Institutional Trading of Atlanta Braves

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Lido Advisors LLC lifted its position in Atlanta Braves by 5.1% during the third quarter. Lido Advisors LLC now owns 5,512 shares of the financial services provider’s stock valued at $229,000 after buying an additional 269 shares in the last quarter. California State Teachers Retirement System increased its position in shares of Atlanta Braves by 0.7% in the second quarter. California State Teachers Retirement System now owns 39,984 shares of the financial services provider’s stock worth $1,870,000 after acquiring an additional 285 shares in the last quarter. Comerica Bank raised its stake 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 valued at $41,000 after acquiring an additional 319 shares during the period. Diversify Advisory Services LLC lifted its holdings in shares of Atlanta Braves by 2.0% during the 4th quarter. Diversify Advisory Services LLC now owns 16,743 shares of the financial services provider’s stock valued at $671,000 after acquiring an additional 323 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Atlanta Braves by 5.1% during the 3rd quarter. Sei Investments Co. now owns 7,070 shares of the financial services provider’s stock valued at $294,000 after acquiring an additional 346 shares in the last quarter. Institutional investors and hedge funds own 64.88% of the company’s stock.

About Atlanta Braves

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.