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

Wall Street Zen downgraded shares of Atlanta Braves (NASDAQ:BATRK) from a hold rating to a sell rating in a report issued on Saturday morning.

Other research analysts have also issued reports about the company. Zacks Research raised Atlanta Braves from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 5th. Rosenblatt Securities reaffirmed a “buy” rating and set a $69.00 price objective on shares of Atlanta Braves in a research report on Thursday, February 26th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Atlanta Braves in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $57.00.

Atlanta Braves Stock Performance

NASDAQ BATRK opened at $43.44 on Friday. The company has a market cap of $2.29 billion, a PE ratio of -111.38 and a beta of 0.54. The firm’s 50 day moving average price is $41.46 and its 200-day moving average price is $40.63. Atlanta Braves has a 52-week low of $35.46 and a 52-week high of $47.18.

Atlanta Braves (NASDAQ:BATRK) last issued 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. On average, analysts forecast that Atlanta Braves will post -0.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Atlanta Braves

In related news, major shareholder John C. Malone acquired 35,000 shares of the business’s stock in a transaction dated Thursday, February 5th. The shares were purchased 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 directly owned 521,862 shares in the company, valued at $23,081,956.26. The trade was a 7.19% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Trading of Atlanta Braves

A number of institutional investors have recently bought and sold shares of the stock. Mercer Global Advisors Inc. ADV purchased a new stake in Atlanta Braves during the 4th quarter worth approximately $287,000. KKM Financial LLC purchased a new position in shares of Atlanta Braves in the fourth quarter worth $849,000. nVerses Capital LLC acquired a new stake in shares of Atlanta Braves during the fourth quarter worth $249,000. Summit Securities Group LLC grew its holdings in shares of Atlanta Braves by 50.0% during the fourth quarter. Summit Securities Group LLC now owns 3,000 shares of the financial services provider’s stock valued at $118,000 after buying an additional 1,000 shares during the last quarter. Finally, Cinctive Capital Management LP grew its holdings in shares of Atlanta Braves by 35.0% during the fourth quarter. Cinctive Capital Management LP now owns 157,411 shares of the financial services provider’s stock valued at $6,210,000 after buying an additional 40,843 shares during the last quarter. 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.