Atlanta Braves (NASDAQ:BATRK) Downgraded by Wall Street Zen to "Sell"

Key Points

• Wall Street Zen downgraded Atlanta Braves (NASDAQ:BATRK) from "hold" to "sell," though the stock still carries a consensus rating of Moderate Buy with an average target price of $60.00.
• Shares trade around $44.18 with a market cap of $2.32 billion, a negative P/E (-113.28) and a 12-month range of $37.32–$47.18; the company beat last quarter's EPS and revenue estimates but analysts forecast -0.89 EPS for the current year.
• John C. Malone bought 35,000 shares at about $44.23, increasing his ownership by 7.19%, and corporate insiders now own 11.43% of the company's stock.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Sunday.

Several other equities research analysts have also issued reports on BATRK. Rosenblatt Securities boosted their price target on shares of Atlanta Braves from $69.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, April 2nd. Weiss Ratings reissued a "sell (d-)" rating on shares of Atlanta Braves in a report on Friday, March 27th. Finally, Zacks Research upgraded shares of Atlanta Braves from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Atlanta Braves currently has a consensus rating of "Moderate Buy" and an average target price of $60.00.

Atlanta Braves Trading Down 0.2%

NASDAQ:BATRK opened at $44.18 on Friday. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of -113.28 and a beta of 0.53. The company has a 50-day moving average of $42.66 and a 200-day moving average of $40.72. Atlanta Braves has a twelve month low of $37.32 and a twelve month high of $47.18.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The financial services provider reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.66) by $0.38. The business had revenue of $61.30 million during the quarter, compared to the consensus estimate of $54.93 million. On average, research analysts forecast that Atlanta Braves will post -0.89 earnings per share for the current year.

Insider Activity at Atlanta Braves

In other news, major shareholder John C. Malone bought 35,000 shares of Atlanta Braves stock in a transaction dated Thursday, February 5th. The shares were bought at an average price of $44.23 per share, for a total transaction of $1,548,050.00. Following the purchase, the insider owned 521,862 shares of the company's stock, valued at approximately $23,081,956.26. This trade represents a 7.19% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 11.43% of the company's stock.

Institutional Investors Weigh In On Atlanta Braves

Institutional investors and hedge funds have recently made changes to their positions in the company. Rockefeller Capital Management L.P. lifted its position in Atlanta Braves by 4.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 6,745 shares of the financial services provider's stock worth $266,000 after buying an additional 310 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in Atlanta Braves during the 4th quarter worth about $287,000. KKM Financial LLC acquired a new position in Atlanta Braves during the 4th quarter worth about $849,000. nVerses Capital LLC acquired a new position in Atlanta Braves during the 4th quarter worth about $249,000. Finally, Summit Securities Group LLC lifted its position in Atlanta Braves by 50.0% during the 4th quarter. Summit Securities Group LLC now owns 3,000 shares of the financial services provider's stock worth $118,000 after buying an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 64.88% of the company's stock.

About Atlanta Braves

The Atlanta Braves Real Estate Ownership Trust NASDAQ: BATRK is a publicly traded real estate investment trust established in 2021 by Liberty Braves Group. The trust's primary purpose is to own and manage a portfolio of sports and entertainment properties related to the Atlanta Braves baseball franchise. BATRK generates stable rental income by leasing its assets to the Braves Baseball Club, LLC, under long-term lease agreements designed to align property performance with franchise needs.

The trust's portfolio is anchored by Truist Park, the 41,084-seat baseball stadium that has served as the Braves' home since 2017.

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