Atlanta Braves (NASDAQ:BATRK) Downgraded to “Sell” Rating by Wall Street Zen

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

Several other research firms have also recently weighed in on BATRK. Zacks Research raised shares of Atlanta Braves from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Atlanta Braves in a report on Monday, December 29th. Finally, Rosenblatt Securities restated a “buy” rating and set a $69.00 price objective on shares of Atlanta Braves in a research report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.00.

Atlanta Braves Price Performance

BATRK stock opened at $43.09 on Friday. Atlanta Braves has a 1-year low of $35.46 and a 1-year high of $47.18. The business has a 50 day simple moving average of $41.38 and a two-hundred day simple moving average of $40.67. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of -110.48 and a beta of 0.55.

Atlanta Braves (NASDAQ:BATRK) last released its quarterly earnings data on Wednesday, February 25th. The financial services provider reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.66) by $0.38. The company had revenue of $61.30 million for the quarter, compared to the consensus estimate of $54.93 million. Sell-side analysts anticipate that Atlanta Braves will post -0.89 EPS for the current fiscal year.

Insider Activity at Atlanta Braves

In other Atlanta Braves news, major shareholder John C. Malone acquired 35,000 shares of the company’s stock in a transaction on Thursday, February 5th. The stock was acquired at an average cost of $44.23 per share, with a total value of $1,548,050.00. Following the purchase, the insider directly owned 521,862 shares of the company’s stock, valued at approximately $23,081,956.26. This represents a 7.19% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 11.43% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Elgethun Capital Management raised its position in Atlanta Braves by 6.8% during the second quarter. Elgethun Capital Management now owns 145,531 shares of the financial services provider’s stock valued at $6,806,000 after purchasing an additional 9,250 shares during the period. Highbridge Capital Management LLC boosted its holdings in shares of Atlanta Braves by 34.9% in the 3rd quarter. Highbridge Capital Management LLC now owns 393,633 shares of the financial services provider’s stock worth $16,371,000 after purchasing an additional 101,765 shares during the period. Harvey Partners LLC boosted its holdings in shares of Atlanta Braves by 7.3% in 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 during the period. Vanguard Group Inc. increased its position in shares of Atlanta Braves by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 2,472,019 shares of the financial services provider’s stock valued at $102,811,000 after purchasing an additional 23,694 shares during the last quarter. Finally, Mark Asset Management LP bought a new position in shares of Atlanta Braves during the 2nd quarter valued at approximately $1,239,000. 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.