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

Wall Street Zen lowered shares of Atlanta Braves (NASDAQ:BATRK) from a hold rating to a sell rating in a research note released on Saturday morning.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Atlanta Braves in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Atlanta Braves currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

Atlanta Braves Price Performance

Shares of BATRK stock traded down $0.16 during trading hours on Friday, reaching $38.71. The stock had a trading volume of 334,776 shares, compared to its average volume of 317,824. The firm has a market capitalization of $2.43 billion, a PE ratio of -967.51 and a beta of 0.61. The firm has a 50-day simple moving average of $40.91 and a 200-day simple moving average of $42.55. Atlanta Braves has a twelve month low of $35.46 and a twelve month high of $47.18.

Atlanta Braves (NASDAQ:BATRK) last posted its earnings results on Wednesday, November 5th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating 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. On average, equities analysts anticipate that Atlanta Braves will post -0.89 earnings per share for the current year.

Insider Activity at Atlanta Braves

In related news, major shareholder John C. Malone acquired 840 shares of the stock in a transaction that occurred on Monday, October 27th. The shares were acquired at an average price of $41.99 per share, for a total transaction of $35,271.60. Following the completion of the purchase, the insider directly owned 372,547 shares of the company’s stock, valued at $15,643,248.53. The trade was a 0.23% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Gamco Investors, Inc. Et Al sold 1,100 shares of the business’s stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $45.19, for a total value of $49,709.00. Following the sale, the insider directly owned 1,800 shares in the company, valued at approximately $81,342. The trade was a 37.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,700 shares of company stock valued at $167,859 over the last quarter. Insiders own 11.43% of the company’s stock.

Institutional Investors Weigh In On Atlanta Braves

Several large investors have recently modified their holdings of the stock. Redmont Wealth Advisors LLC acquired a new position in shares of Atlanta Braves in the 3rd quarter worth $564,000. Advisors Capital Management LLC boosted its position in shares of Atlanta Braves by 8.2% in the 3rd quarter. Advisors Capital Management LLC now owns 98,551 shares of the financial services provider’s stock valued at $4,099,000 after purchasing an additional 7,428 shares during the period. Vanguard Group Inc. boosted its position 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. JPMorgan Chase & Co. increased its stake in Atlanta Braves by 46.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 204,929 shares of the financial services provider’s stock worth $8,523,000 after purchasing an additional 64,968 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its holdings in Atlanta Braves by 5.1% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 48,552 shares of the financial services provider’s stock worth $2,019,000 after buying an additional 2,367 shares during the period. 64.88% of the stock is owned by institutional investors.

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.