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

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

A number of other analysts have also issued reports on the stock. Morgan Stanley lowered shares of Atlanta Braves from an “overweight” rating to an “equal weight” rating and set a $54.00 target price on the stock. in a research report on Wednesday, July 15th. Rosenblatt Securities reduced their price target on Atlanta Braves from $75.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday. Zacks Research cut Atlanta Braves from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Atlanta Braves in a report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $63.50.

Atlanta Braves Trading Down 0.0%

NASDAQ:BATRK opened at $50.04 on Friday. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of -49.54 and a beta of 0.68. The company’s 50-day moving average is $50.95 and its two-hundred day moving average is $46.97. Atlanta Braves has a 12-month low of $37.76 and a 12-month high of $53.25.

Atlanta Braves (NASDAQ:BATRK) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.50). The business had revenue of $305.12 million for the quarter, compared to the consensus estimate of $319.00 million. On average, equities research analysts forecast that Atlanta Braves will post -0.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Atlanta Braves

Institutional investors have recently bought and sold shares of the stock. Troluce Capital Advisors LLC increased its holdings in Atlanta Braves by 274.9% in the 1st quarter. Troluce Capital Advisors LLC now owns 2,000,000 shares of the financial services provider’s stock valued at $85,400,000 after purchasing an additional 1,466,584 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Atlanta Braves by 13.2% during the first quarter. Janus Henderson Group PLC now owns 834,765 shares of the financial services provider’s stock worth $35,645,000 after purchasing an additional 97,443 shares in the last quarter. Parthenon LLC lifted its stake in shares of Atlanta Braves by 31.3% during the fourth quarter. Parthenon LLC now owns 223,665 shares of the financial services provider’s stock worth $8,824,000 after purchasing an additional 53,321 shares in the last quarter. Capula Management Ltd purchased a new stake in shares of Atlanta Braves in the first quarter worth about $2,504,000. Finally, Southpoint Capital Advisors LP grew its stake in shares of Atlanta Braves by 28.6% in the first quarter. Southpoint Capital Advisors LP now owns 900,000 shares of the financial services provider’s stock valued at $38,430,000 after buying an additional 200,000 shares in the last quarter. 64.88% of the stock is currently owned by hedge funds and other institutional investors.

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.