Atlanta Braves’ (BATRK) Buy Rating Reiterated at Rosenblatt Securities

Atlanta Braves (NASDAQ:BATRK)‘s stock had its “buy” rating reiterated by equities researchers at Rosenblatt Securities in a report issued on Thursday,Benzinga reports. They presently have a $69.00 price target on the financial services provider’s stock. Rosenblatt Securities’ price target indicates a potential upside of 57.43% from the stock’s previous close.

A number of other equities analysts also recently commented on BATRK. Weiss Ratings restated a “sell (d-)” rating on shares of Atlanta Braves in a research note on Monday, December 29th. Zacks Research cut Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Finally, Wall Street Zen raised Atlanta Braves from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Atlanta Braves has a consensus rating of “Hold” and a consensus price target of $57.00.

Atlanta Braves Stock Up 1.6%

NASDAQ:BATRK opened at $43.83 on Thursday. Atlanta Braves has a twelve month low of $35.46 and a twelve month high of $47.18. The company has a market cap of $2.26 billion, a P/E ratio of -1,095.48 and a beta of 0.61. The business has a 50 day moving average price of $40.40 and a two-hundred day moving average price of $40.72.

Atlanta Braves (NASDAQ:BATRK) last announced its quarterly earnings data on Wednesday, February 25th. The financial services provider reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.38. The business had revenue of $61.30 million during the quarter, compared to the consensus estimate of $54.93 million. As a group, 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 John C. Malone bought 35,000 shares of the business’s stock in a transaction dated Thursday, February 5th. The stock was purchased at an average cost of $44.23 per share, for a total transaction of $1,548,050.00. Following the transaction, the insider owned 521,862 shares in the company, valued at $23,081,956.26. The trade was a 7.19% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 11.43% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Atlanta Braves

Institutional investors have recently modified their holdings of the business. Elgethun Capital Management lifted its holdings in shares of Atlanta Braves by 6.8% in the second quarter. Elgethun Capital Management now owns 145,531 shares of the financial services provider’s stock worth $6,806,000 after acquiring an additional 9,250 shares during the last quarter. Highbridge Capital Management LLC grew its holdings in shares of Atlanta Braves by 34.9% during the 3rd quarter. Highbridge Capital Management LLC now owns 393,633 shares of the financial services provider’s stock valued at $16,371,000 after purchasing an additional 101,765 shares during the last quarter. Harvey Partners LLC increased its position in Atlanta Braves by 7.3% during the 2nd quarter. Harvey Partners LLC now owns 709,386 shares of the financial services provider’s stock worth $33,178,000 after purchasing an additional 48,386 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Atlanta Braves in the 2nd quarter valued at approximately $3,273,000. Finally, Mark Asset Management LP acquired a new stake in Atlanta Braves in the second quarter valued at approximately $1,239,000. 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.