Atlanta Braves' (BATRA) Sell (D-) Rating Reiterated at Weiss Ratings

Key Points

• The Atlanta Braves' stock (NASDAQ:BATRA) has received a "sell (D-)" rating from Weiss Ratings, indicating a negative outlook from analysts.
• Citigroup has initiated coverage with a "neutral" rating and a price target of $45, while the consensus rating for the stock is currently "Hold" with a target of $52.50.
• Insider selling has been noted, including a major shareholder reducing their stake by 37.93% after selling 1,100 shares recently.

Atlanta Braves (NASDAQ:BATRA - Get Free Report)'s stock had its "sell (d-)" rating reissued by investment analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Separately, Citigroup initiated coverage on shares of Atlanta Braves in a report on Friday, June 13th. They issued a "neutral" rating and a $45.00 price target for the company. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Atlanta Braves currently has a consensus rating of "Hold" and a consensus price target of $52.50.

Atlanta Braves Price Performance

NASDAQ:BATRA traded down $0.37 during trading hours on Wednesday, hitting $43.53. The stock had a trading volume of 45,713 shares, compared to its average volume of 53,484. The company has a 50 day simple moving average of $46.25 and a two-hundred day simple moving average of $45.60. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.64 and a quick ratio of 0.64. Atlanta Braves has a one year low of $38.67 and a one year high of $50.50. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of -124.37 and a beta of 0.64.

Atlanta Braves (NASDAQ:BATRA - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.46 EPS for the quarter, beating the consensus estimate of $0.34 by $0.12. Atlanta Braves had a negative net margin of 2.99% and a negative return on equity of 3.98%. The firm had revenue of $312.44 million during the quarter, compared to the consensus estimate of $295.86 million. Research analysts forecast that Atlanta Braves will post -0.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Gamco Investors, Inc. Et Al sold 1,100 shares of Atlanta Braves stock in a transaction on Friday, September 19th. The shares were sold at an average price of $45.19, for a total value of $49,709.00. Following the transaction, the insider owned 1,800 shares in the company, valued at $81,342. This trade represents a 37.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have sold 3,700 shares of company stock valued at $167,859. 5.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Atlanta Braves

A number of hedge funds have recently modified their holdings of BATRA. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Atlanta Braves by 11.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,107 shares of the financial services provider's stock valued at $698,000 after acquiring an additional 1,696 shares during the period. Rhumbline Advisers increased its position in shares of Atlanta Braves by 5.2% in the first quarter. Rhumbline Advisers now owns 17,228 shares of the financial services provider's stock valued at $756,000 after acquiring an additional 848 shares during the period. GAMMA Investing LLC increased its position in shares of Atlanta Braves by 25.1% in the first quarter. GAMMA Investing LLC now owns 1,207 shares of the financial services provider's stock valued at $53,000 after acquiring an additional 242 shares during the period. Congress Park Capital LLC purchased a new position in shares of Atlanta Braves in the first quarter valued at about $965,000. Finally, Hudson Value Partners LLC purchased a new position in shares of Atlanta Braves in the first quarter valued at about $3,830,000. Hedge funds and other institutional investors own 12.31% of the company's stock.

About Atlanta Braves

Atlanta Braves Holdings, Inc owns and operates the Atlanta Braves Major league baseball club. It also operates mixed-use development project, including retail, office, hotel, and entertainment projects. The company was incorporated in 2022 and is based in Englewood, Colorado.

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