Atlanta Braves' (BATRK) Sell (D-) Rating Reaffirmed at Weiss Ratings

Key Points

• Weiss Ratings has reaffirmed a "sell (D-)" rating for Atlanta Braves (BATRK), indicating ongoing concerns about the stock's performance.
• Despite negative outlook from Weiss Ratings, Citigroup has upgraded the stock to a "hold" and Rosenblatt Securities raised its target price from $52 to $69 while giving it a "buy" rating.
• The Braves' stock is currently trading at $40.54, with a 52-week high of $47.18 and a low of $35.46, highlighting volatility in the company’s share value.

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

Several other analysts also recently commented on the stock. Citigroup raised shares of Atlanta Braves to a "hold" rating and set a $45.00 target price for the company in a research report on Friday, June 13th. Rosenblatt Securities increased their target price on shares of Atlanta Braves from $52.00 to $69.00 and gave the stock a "buy" rating in a research report on Friday, June 20th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $57.00.

Atlanta Braves Price Performance

Atlanta Braves stock traded down $0.25 during mid-day trading on Wednesday, hitting $40.54. The company's stock had a trading volume of 257,983 shares, compared to its average volume of 299,429. Atlanta Braves has a 52-week low of $35.46 and a 52-week high of $47.18. The company has a market cap of $2.54 billion, a PE ratio of -115.83 and a beta of 0.61. The firm's 50 day moving average is $43.02 and its 200 day moving average is $42.32.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.18). The business had revenue of $312.44 million for the quarter, compared to analysts' expectations of $296.36 million. As a group, analysts forecast that Atlanta Braves will post -0.89 EPS for the current year.

Insider Activity at Atlanta Braves

In related news, major shareholder Gamco Investors, Inc. Et Al sold 1,100 shares of the firm's stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $45.19, for a total value of $49,709.00. Following the sale, the insider directly owned 1,800 shares of the company's stock, valued at $81,342. This trade represents a 37.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last ninety days, insiders sold 3,700 shares of company stock worth $167,859.

Institutional Investors Weigh In On Atlanta Braves

Several institutional investors and hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its stake in shares of Atlanta Braves by 956.1% in the second quarter. EverSource Wealth Advisors LLC now owns 697 shares of the financial services provider's stock worth $33,000 after acquiring an additional 631 shares during the period. CWM LLC raised its holdings in Atlanta Braves by 56.4% during the 1st quarter. CWM LLC now owns 824 shares of the financial services provider's stock worth $33,000 after purchasing an additional 297 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of Atlanta Braves in the 2nd quarter worth approximately $45,000. Comerica Bank boosted its stake in shares of Atlanta Braves by 44.8% in the 1st quarter. Comerica Bank now owns 1,031 shares of the financial services provider's stock valued at $41,000 after purchasing an additional 319 shares during the last quarter. Finally, Osaic Holdings Inc. increased its position in shares of Atlanta Braves by 38.1% during the second quarter. Osaic Holdings Inc. now owns 1,464 shares of the financial services provider's stock worth $68,000 after buying an additional 404 shares during the period. Institutional investors and hedge funds own 64.88% of the company's stock.

Atlanta Braves Company Profile

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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