Atlanta Braves (NASDAQ:BATRA) Stock Rating Lowered by Zacks Research

Atlanta Braves (NASDAQ:BATRA - Get Free Report) was downgraded by equities researchers at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Atlanta Braves in a report on Monday, April 20th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Reduce" and an average price target of $45.00.

Atlanta Braves Trading Down 0.1%

BATRA opened at $53.46 on Monday. The firm's fifty day moving average is $48.90 and its two-hundred day moving average is $45.20. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.42 and a current ratio of 0.42. The firm has a market cap of $3.36 billion, a PE ratio of -137.07 and a beta of 0.54. Atlanta Braves has a twelve month low of $41.50 and a twelve month high of $54.58.

Atlanta Braves (NASDAQ:BATRA - Get Free Report) last posted its earnings results on Wednesday, February 25th. The financial services provider reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.74) by $0.46. The company had revenue of $61.30 million for the quarter, compared to analyst estimates of $54.93 million. Atlanta Braves had a negative net margin of 3.19% and a positive return on equity of 0.08%. Equities research analysts anticipate that Atlanta Braves will post 0.36 EPS for the current year.

Insider Activity at Atlanta Braves

In related news, major shareholder John C. Malone acquired 35,000 shares of the company's stock in a transaction that occurred on Thursday, February 5th. The shares were acquired at an average cost of $44.23 per share, for a total transaction of $1,548,050.00. Following the completion of the acquisition, 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 legal filing with the SEC, which can be accessed through this hyperlink. 5.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Atlanta Braves

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Murphy Middleton Hinkle & Parker Inc. acquired a new stake in shares of Atlanta Braves during the fourth quarter worth $3,252,000. Gabelli Funds LLC raised its holdings in shares of Atlanta Braves by 4.5% during the third quarter. Gabelli Funds LLC now owns 864,316 shares of the financial services provider's stock worth $39,300,000 after acquiring an additional 36,995 shares during the period. MRP Capital Investments LLC acquired a new stake in shares of Atlanta Braves during the third quarter worth $1,022,000. Comerica Bank raised its holdings in shares of Atlanta Braves by 1,077.7% during the fourth quarter. Comerica Bank now owns 3,015 shares of the financial services provider's stock worth $128,000 after acquiring an additional 2,759 shares during the period. Finally, CWM LLC raised its holdings in shares of Atlanta Braves by 149.5% during the fourth quarter. CWM LLC now owns 1,457 shares of the financial services provider's stock worth $62,000 after acquiring an additional 873 shares during the period. 12.31% of the stock is currently owned by institutional investors and hedge funds.

Atlanta Braves Company Profile

The Atlanta Braves NASDAQ: BATRA are a professional baseball club that competes in Major League Baseball's National League East division. Founded in 1871 as the Boston Red Stockings, the franchise relocated to Milwaukee in 1953 before settling in Atlanta in 1966. As one of MLB's oldest and most storied organizations, the Braves are responsible for fielding a Major League team, overseeing player development through a network of minor league affiliates, and managing baseball operations under the leadership of President of Baseball Operations Alex Anthopoulos.

Beyond on‐field performance, the Braves operate a diversified sports and entertainment business.

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