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

Atlanta Braves (NASDAQ:BATRK) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other analysts have also recently weighed in on the company. Wall Street Zen cut Atlanta Braves from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings reissued a “sell (d-)” rating on shares of Atlanta Braves in a research note on Wednesday, October 8th. One 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $57.00.

Atlanta Braves Stock Performance

Shares of BATRK opened at $38.71 on Thursday. The firm has a market cap of $2.43 billion, a PE ratio of -967.51 and a beta of 0.61. The firm’s 50 day moving average price is $40.91 and its 200 day moving average price is $42.53. Atlanta Braves has a twelve month low of $35.46 and a twelve month high of $47.18.

Atlanta Braves (NASDAQ:BATRK) last announced its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $0.47 EPS for the quarter, topping the consensus estimate of $0.24 by $0.23. The business had revenue of $311.54 million for the quarter, compared to analyst estimates of $309.06 million. On average, sell-side analysts anticipate that Atlanta Braves will post -0.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Gamco Investors, Inc. Et Al sold 1,100 shares of the company’s stock in a transaction on Friday, September 19th. The shares were sold at an average price of $45.19, for a total transaction of $49,709.00. Following the completion of the transaction, the insider directly owned 1,800 shares in the company, valued at $81,342. This represents a 37.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder John C. Malone purchased 840 shares of the firm’s stock in a transaction on Monday, October 27th. The stock was bought at an average price of $41.99 per share, for a total transaction of $35,271.60. Following the completion of the transaction, the insider directly owned 372,547 shares in the company, valued at approximately $15,643,248.53. The trade was a 0.23% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold 3,700 shares of company stock worth $167,859 in the last ninety days. 11.43% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BATRK. Vanguard Group Inc. grew its stake in shares of Atlanta Braves by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 2,472,019 shares of the financial services provider’s stock valued at $102,811,000 after purchasing an additional 23,694 shares during the period. Aristeia Capital L.L.C. raised its stake in Atlanta Braves by 2.3% during the first quarter. Aristeia Capital L.L.C. now owns 2,470,052 shares of the financial services provider’s stock worth $98,827,000 after acquiring an additional 55,690 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Atlanta Braves by 8.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,829,000 shares of the financial services provider’s stock valued at $73,179,000 after acquiring an additional 138,111 shares during the period. Broad Bay Capital Management LP boosted its stake in shares of Atlanta Braves by 24.3% in the 1st quarter. Broad Bay Capital Management LP now owns 1,732,882 shares of the financial services provider’s stock valued at $69,333,000 after purchasing an additional 338,655 shares in the last quarter. Finally, Gabelli Funds LLC boosted its stake in shares of Atlanta Braves by 3.7% in the 1st quarter. Gabelli Funds LLC now owns 1,473,271 shares of the financial services provider’s stock valued at $58,946,000 after purchasing an additional 52,777 shares in the last quarter. Institutional investors own 64.88% of the company’s stock.

About Atlanta Braves

Atlanta Braves Holdings, Inc owns and operates the Atlanta Braves Major league baseball club. It also operates mixed-use development project, including retail, office, hotel, and entertainment projects. The company was incorporated in 2022 and is based in Englewood, Colorado.