Atlanta Braves (NASDAQ:BATRK) Price Target Raised to $75.00

Atlanta Braves (NASDAQ:BATRK) had its price objective boosted by research analysts at Rosenblatt Securities from $69.00 to $75.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Rosenblatt Securities’ price target would suggest a potential upside of 76.99% from the stock’s current price.

A number of other analysts have also recently commented on BATRK. Wall Street Zen cut shares of Atlanta Braves from a “hold” rating to a “sell” rating in a research report on Saturday, March 14th. Zacks Research upgraded shares of Atlanta Braves from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Atlanta Braves in a research note on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $60.00.

Atlanta Braves Price Performance

BATRK opened at $42.38 on Thursday. The firm’s fifty day moving average price is $42.05 and its two-hundred day moving average price is $40.59. Atlanta Braves has a fifty-two week low of $35.46 and a fifty-two week high of $47.18. The company has a market capitalization of $2.23 billion, a P/E ratio of -108.39 and a beta of 0.53.

Atlanta Braves (NASDAQ:BATRK) last announced its quarterly earnings data on Wednesday, February 25th. The financial services provider reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.66) by $0.38. The firm had revenue of $61.30 million for the quarter, compared to the consensus estimate of $54.93 million. On average, equities research analysts expect that Atlanta Braves will post -0.89 EPS for the current fiscal year.

Insiders Place Their Bets

In other Atlanta Braves news, major shareholder John C. Malone bought 35,000 shares of the firm’s stock in a transaction dated Thursday, February 5th. The stock was bought at an average cost of $44.23 per share, with a total value of $1,548,050.00. Following the completion of the transaction, the insider directly owned 521,862 shares in the company, valued at approximately $23,081,956.26. The trade was a 7.19% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 11.43% of the company’s stock.

Institutional Investors Weigh In On Atlanta Braves

Several large investors have recently added to or reduced their stakes in the company. Lido Advisors LLC raised its stake in Atlanta Braves by 5.1% in the 3rd quarter. Lido Advisors LLC now owns 5,512 shares of the financial services provider’s stock valued at $229,000 after acquiring an additional 269 shares during the period. California State Teachers Retirement System increased its stake in shares of Atlanta Braves by 0.7% in the second quarter. California State Teachers Retirement System now owns 39,984 shares of the financial services provider’s stock worth $1,870,000 after purchasing an additional 285 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in shares of Atlanta Braves by 4.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 6,745 shares of the financial services provider’s stock valued at $266,000 after purchasing an additional 310 shares during the period. Comerica Bank lifted its stake in shares of Atlanta Braves by 44.8% during the 1st quarter. Comerica Bank now owns 1,031 shares of the financial services provider’s stock valued at $41,000 after buying an additional 319 shares in the last quarter. Finally, Diversify Advisory Services LLC boosted its holdings in Atlanta Braves by 2.0% in the 4th quarter. Diversify Advisory Services LLC now owns 16,743 shares of the financial services provider’s stock worth $671,000 after buying an additional 323 shares during the period. Hedge funds and other institutional investors 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.