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

Key Points

• Wall Street Zen downgraded Atlanta Braves (BATRK) from “hold” to “strong sell.” Overall analyst sentiment remains “Hold,” with an average price target of $63.50.
• The company reported a quarterly loss of $0.19 per share, missing the consensus estimate of $0.31, while revenue of $305.12 million also fell short of the $319 million forecast.
• BATRK opened at $50.06, with a $2.65 billion market capitalization and a 52-week range of $37.76 to $53.25. Institutional investors own approximately 64.88% of the stock.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "strong sell" rating in a report issued on Saturday.

A number of other research analysts have also weighed in on BATRK. Morgan Stanley lowered Atlanta Braves from an "overweight" rating to an "equal weight" rating and set a $54.00 target price for the company. in a report on Wednesday, July 15th. Zacks Research cut shares of Atlanta Braves from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. Rosenblatt Securities reduced their price target on shares of Atlanta Braves from $75.00 to $73.00 and set a "buy" rating for the company in a research report on Friday. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Atlanta Braves in a research report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $63.50.

Atlanta Braves Price Performance

NASDAQ:BATRK opened at $50.06 on Friday. The company has a market cap of $2.65 billion, a P/E ratio of -49.56 and a beta of 0.68. The stock's fifty day moving average price is $50.94 and its two-hundred day moving average price is $46.85. Atlanta Braves has a 1 year low of $37.76 and a 1 year high of $53.25.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.50). The firm had revenue of $305.12 million during the quarter, compared to the consensus estimate of $319.00 million. On average, analysts expect that Atlanta Braves will post -0.06 earnings per share for the current fiscal year.

Institutional Trading of Atlanta Braves

Hedge funds have recently made changes to their positions in the stock. Troluce Capital Advisors LLC grew its holdings in shares of Atlanta Braves by 274.9% during the 1st quarter. Troluce Capital Advisors LLC now owns 2,000,000 shares of the financial services provider's stock valued at $85,400,000 after purchasing an additional 1,466,584 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Atlanta Braves by 13.2% in the first quarter. Janus Henderson Group PLC now owns 834,765 shares of the financial services provider's stock worth $35,645,000 after purchasing an additional 97,443 shares during the last quarter. Parthenon LLC boosted its position in Atlanta Braves by 31.3% during the fourth quarter. Parthenon LLC now owns 223,665 shares of the financial services provider's stock valued at $8,824,000 after buying an additional 53,321 shares during the period. Capula Management Ltd bought a new position in shares of Atlanta Braves during the first quarter valued at about $2,504,000. Finally, Southpoint Capital Advisors LP increased its holdings in shares of Atlanta Braves by 28.6% in the first quarter. Southpoint Capital Advisors LP now owns 900,000 shares of the financial services provider's stock worth $38,430,000 after buying an additional 200,000 shares during the period. 64.88% of the stock is owned by institutional investors.

Atlanta Braves Company Profile

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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