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 research note issued to investors on Monday,Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. Wall Street Zen raised shares of Atlanta Braves from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Atlanta Braves in a research note on Monday, December 29th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $69.00 price target on shares of Atlanta Braves in a report on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $57.00.

Atlanta Braves Trading Up 0.1%

Shares of NASDAQ:BATRK opened at $39.43 on Monday. Atlanta Braves has a 12-month low of $35.46 and a 12-month high of $47.18. The business has a 50 day moving average of $39.32 and a two-hundred day moving average of $42.00. The company has a market capitalization of $2.04 billion, a PE ratio of -985.50 and a beta of 0.62.

Atlanta Braves (NASDAQ:BATRK) last issued its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.23. The firm had revenue of $311.54 million for the quarter, compared to analyst estimates of $309.06 million. Equities research analysts predict that Atlanta Braves will post -0.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Atlanta Braves

In other news, major shareholder John C. Malone bought 28,567 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were acquired at an average price of $41.97 per share, for a total transaction of $1,198,956.99. Following the completion of the transaction, the insider directly owned 479,972 shares in the company, valued at $20,144,424.84. The trade was a 6.33% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders purchased a total of 67,236 shares of company stock valued at $2,822,097 in the last quarter.

Institutional Investors Weigh In On Atlanta Braves

Several hedge funds and other institutional investors have recently bought and sold shares of BATRK. Dendur Capital LP acquired a new stake in Atlanta Braves during the second quarter worth $20,111,000. Qube Research & Technologies Ltd increased its position in shares of Atlanta Braves by 504.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 436,158 shares of the financial services provider’s stock worth $18,140,000 after purchasing an additional 363,953 shares during the last quarter. Invesco Ltd. increased its position in shares of Atlanta Braves by 406.3% during the 3rd quarter. Invesco Ltd. now owns 261,754 shares of the financial services provider’s stock worth $10,886,000 after purchasing an additional 210,051 shares during the last quarter. Millennium Management LLC raised its holdings in Atlanta Braves by 68.1% in the 3rd quarter. Millennium Management LLC now owns 494,905 shares of the financial services provider’s stock valued at $20,583,000 after buying an additional 200,555 shares during the period. Finally, Scopia Capital Management LP acquired a new position in Atlanta Braves in the second quarter valued at about $8,755,000. 64.88% of the stock is currently owned by institutional investors and hedge funds.

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.