Rosenblatt Securities Forecasts Strong Price Appreciation for Atlanta Braves (NASDAQ:BATRK) Stock

Key Points

• Rosenblatt Securities raised its price target on Atlanta Braves from $73 to $91 and reiterated a Buy rating, implying 74.26% upside from the stock’s current price.
• Analyst opinion is mixed: MarketBeat reports a consensus “Reduce” rating and a $72.50 target, with one Buy, one Hold, and two Sell ratings.
• Atlanta Braves missed quarterly expectations, reporting EPS of $0.15 versus $0.48 forecast and revenue of $324.63 million versus $348 million estimated.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) had its target price lifted by equities researchers at Rosenblatt Securities from $73.00 to $91.00 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's target price suggests a potential upside of 74.26% from the stock's current price.

Other equities analysts have also issued research reports about the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Atlanta Braves in a report on Monday, September 21st. Wall Street Zen downgraded shares of Atlanta Braves from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 8th. Morgan Stanley lowered shares of Atlanta Braves from an "overweight" rating to an "equal weight" rating and set a $54.00 price target for the company. in a research report on Wednesday, July 15th. Finally, Zacks Research lowered shares of Atlanta Braves from a "hold" rating to a "strong sell" rating in a research report on Friday, November 6th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus target price of $72.50.

Atlanta Braves Price Performance

NASDAQ:BATRK opened at $52.22 on Thursday. The business has a 50 day moving average of $51.16 and a 200 day moving average of $48.51. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of -39.26 and a beta of 0.67. Atlanta Braves has a 1-year low of $37.76 and a 1-year high of $54.86.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last issued its earnings results on Wednesday, November 4th. The financial services provider reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.33). The business had revenue of $324.63 million during the quarter, compared to analyst estimates of $348.00 million. As a group, sell-side analysts anticipate that Atlanta Braves will post -0.73 EPS for the current year.

Insiders Place Their Bets

In other Atlanta Braves news, EVP Derek Schiller sold 175,395 shares of the firm's stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $53.20, for a total value of $9,331,014.00. Following the sale, the executive vice president owned 316,908 shares of the company's stock, valued at $16,859,505.60. This trade represents a 35.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gregory Heller sold 80,263 shares of the business's stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $53.89, for a total transaction of $4,325,373.07. Following the completion of the transaction, the executive vice president owned 22,741 shares in the company, valued at $1,225,512.49. The trade was a 77.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.43% of the stock is owned by company insiders.

Institutional Trading of Atlanta Braves

Several large investors have recently modified their holdings of the business. Composition Wealth LLC raised its position in Atlanta Braves by 0.4% during the 3rd quarter. Composition Wealth LLC now owns 193,123 shares of the financial services provider's stock valued at $10,224,000 after purchasing an additional 784 shares during the last quarter. Virtus Advisers LLC grew its position in shares of Atlanta Braves by 16.8% in the 3rd quarter. Virtus Advisers LLC now owns 2,955 shares of the financial services provider's stock worth $156,000 after buying an additional 424 shares during the last quarter. R Squared Ltd purchased a new position in shares of Atlanta Braves during the third quarter valued at approximately $289,000. Fulcrum Asset Management LLP purchased a new position in shares of Atlanta Braves during the third quarter valued at approximately $652,000. Finally, Parallel Advisors LLC increased its stake in shares of Atlanta Braves by 16.6% during the third quarter. Parallel Advisors LLC now owns 4,632 shares of the financial services provider's stock valued at $245,000 after buying an additional 661 shares during the period. 64.88% of the stock is owned by institutional investors.

About Atlanta Braves

Atlanta Braves Holdings, Inc. owns and operates the Atlanta Braves, a professional baseball team in Major League Baseball's National League. The organization generates business through its baseball operations and related activities, including ticket sales, sponsorships, broadcasting, concessions and merchandise. The Braves trace their history to the Boston Red Stockings, established in 1871, and are recognized as one of Major League Baseball's oldest continuously operating franchises. The team moved to Milwaukee in 1953 and to Atlanta in 1966.

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