Wall Street Zen Downgrades Atlanta Braves (NASDAQ:BATRK) to Sell

Atlanta Braves (NASDAQ:BATRK) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Several other equities research analysts also recently issued reports on BATRK. Rosenblatt Securities reissued a “buy” rating and set a $69.00 price objective on shares of Atlanta Braves in a research report on Thursday, February 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Atlanta Braves in a research report on Monday, December 29th. Finally, Zacks Research raised shares of Atlanta Braves from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $57.00.

Atlanta Braves Price Performance

NASDAQ:BATRK opened at $43.09 on Friday. The business’s 50-day simple moving average is $41.38 and its 200-day simple moving average is $40.64. Atlanta Braves has a fifty-two week low of $35.46 and a fifty-two week high of $47.18. The stock has a market capitalization of $2.27 billion, a PE ratio of -110.48 and a beta of 0.54.

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

Insider Activity

In related news, major shareholder John C. Malone bought 35,000 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The shares were acquired at an average price of $44.23 per share, for a total transaction of $1,548,050.00. Following the completion of the acquisition, the insider owned 521,862 shares of the company’s stock, valued at approximately $23,081,956.26. The trade was a 7.19% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BATRK. Troluce Capital Advisors LLC bought a new stake in shares of Atlanta Braves during the 4th quarter worth approximately $21,043,000. Dendur Capital LP acquired a new stake in shares of Atlanta Braves in the 2nd quarter valued at approximately $20,111,000. Hawk Ridge Capital Management LP grew its stake in shares of Atlanta Braves by 16.5% in the fourth quarter. Hawk Ridge Capital Management LP now owns 2,661,429 shares of the financial services provider’s stock valued at $104,993,000 after buying an additional 377,307 shares in the last quarter. Qube Research & Technologies Ltd grew its stake in shares of Atlanta Braves by 504.1% in the third quarter. Qube Research & Technologies Ltd now owns 436,158 shares of the financial services provider’s stock valued at $18,140,000 after buying an additional 363,953 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Atlanta Braves by 12.8% during the fourth quarter. Vanguard Group Inc. now owns 2,789,084 shares of the financial services provider’s stock worth $110,029,000 after buying an additional 317,065 shares during the last quarter. 64.88% of the stock is currently owned by institutional investors.

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.