Rosenblatt Securities Lowers Atlanta Braves (NASDAQ:BATRK) Price Target to $73.00

Atlanta Braves (NASDAQ:BATRK) had its target price cut by analysts at Rosenblatt Securities from $75.00 to $73.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Rosenblatt Securities’ price objective points to a potential upside of 49.56% from the stock’s current price.

A number of other brokerages also recently weighed in on BATRK. Morgan Stanley downgraded shares of Atlanta Braves from an “overweight” rating to an “equal weight” rating and set a $54.00 price target on the stock. in a research report on Wednesday, July 15th. Zacks Research cut shares of Atlanta Braves from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Wall Street Zen raised shares of Atlanta Braves from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Atlanta Braves in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $63.50.

Atlanta Braves Price Performance

Shares of Atlanta Braves stock opened at $48.81 on Friday. The firm has a 50 day simple moving average of $50.93 and a 200 day simple moving average of $46.83. Atlanta Braves has a fifty-two week low of $37.76 and a fifty-two week high of $53.25. The firm has a market cap of $2.58 billion, a P/E ratio of -48.33 and a beta of 0.68.

Atlanta Braves (NASDAQ:BATRK) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.50). The company had revenue of $305.12 million during the quarter, compared to analysts’ expectations of $319.00 million. On average, sell-side analysts expect that Atlanta Braves will post -0.06 EPS for the current year.

Institutional Trading of Atlanta Braves

A number of hedge funds and other institutional investors have recently made changes to their positions in BATRK. Comerica Bank boosted its holdings in Atlanta Braves by 44.8% during the first quarter. Comerica Bank now owns 1,031 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 319 shares during the last quarter. AQR Capital Management LLC bought a new stake in Atlanta Braves during the 1st quarter worth about $382,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Atlanta Braves by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,839 shares of the financial services provider’s stock worth $1,194,000 after buying an additional 1,302 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Atlanta Braves by 12,972.7% during the 1st quarter. Jones Financial Companies Lllp now owns 18,694 shares of the financial services provider’s stock worth $748,000 after buying an additional 18,551 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Atlanta Braves by 8.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 269,383 shares of the financial services provider’s stock valued at $10,778,000 after acquiring an additional 21,883 shares in the last quarter. 64.88% of the stock is currently owned by institutional investors and hedge funds.

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.