Citigroup Upgrades Atlanta Braves (NASDAQ:BATRK) to Hold

Atlanta Braves (NASDAQ:BATRK - Get Free Report) was upgraded by analysts at Citigroup to a "hold" rating in a report issued on Friday, MarketBeat Ratings reports. The firm currently has a $45.00 target price on the financial services provider's stock. Citigroup's price objective suggests a potential upside of 4.68% from the stock's current price.

Separately, Wall Street Zen upgraded shares of Atlanta Braves from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd.

Atlanta Braves Stock Up 1.1%

Shares of BATRK opened at $42.99 on Friday. The company has a 50-day moving average price of $40.22 and a two-hundred day moving average price of $39.39. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of -58.89 and a beta of 0.54. Atlanta Braves has a 12 month low of $35.46 and a 12 month high of $44.43.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last posted its earnings results on Monday, May 12th. The financial services provider reported ($0.66) earnings per share for the quarter, topping the consensus estimate of ($0.94) by $0.28. The firm had revenue of $47.21 million during the quarter, compared to the consensus estimate of $36.87 million. Equities research analysts expect that Atlanta Braves will post -0.89 EPS for the current fiscal year.

Insider Buying and Selling at Atlanta Braves

In related news, EVP Derek Gordon Schiller sold 72,505 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $43.00, for a total transaction of $3,117,715.00. Following the completion of the transaction, the executive vice president now owns 300,233 shares in the company, valued at approximately $12,910,019. This represents a 19.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder John C. Malone bought 44,258 shares of the company's stock in a transaction on Thursday, April 10th. The stock was bought at an average price of $41.80 per share, for a total transaction of $1,849,984.40. Following the completion of the purchase, the insider now owns 330,870 shares of the company's stock, valued at approximately $13,830,366. The trade was a 15.44% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 121,872 shares of company stock valued at $5,043,730 and have sold 147,272 shares valued at $6,322,139. Insiders own 11.43% of the company's stock.

Institutional Investors Weigh In On Atlanta Braves

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC lifted its position in Atlanta Braves by 56.4% in the 1st quarter. CWM LLC now owns 824 shares of the financial services provider's stock worth $33,000 after buying an additional 297 shares during the last quarter. Federated Hermes Inc. bought a new position in shares of Atlanta Braves during the 4th quarter valued at $40,000. Comerica Bank raised its position in Atlanta Braves by 44.8% in the 1st quarter. Comerica Bank now owns 1,031 shares of the financial services provider's stock worth $41,000 after purchasing an additional 319 shares during the period. Summit Securities Group LLC purchased a new stake in Atlanta Braves during the first quarter valued at about $60,000. Finally, Versant Capital Management Inc grew its stake in shares of Atlanta Braves by 335.7% during the first quarter. Versant Capital Management Inc now owns 1,817 shares of the financial services provider's stock valued at $73,000 after buying an additional 1,400 shares during the last quarter. Institutional investors own 64.88% 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.