Atlanta Braves (NASDAQ:BATRK) Price Target Raised to $69.00

Atlanta Braves (NASDAQ:BATRK - Get Free Report) had its target price boosted by Rosenblatt Securities from $52.00 to $69.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the financial services provider's stock. Rosenblatt Securities' target price would suggest a potential upside of 57.97% from the stock's current price.

BATRK has been the topic of several other research reports. Wall Street Zen raised Atlanta Braves from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Citigroup raised shares of Atlanta Braves to a "hold" rating and set a $45.00 price objective for the company in a research note on Friday, June 13th.

Atlanta Braves Trading Up 2.0%

BATRK stock opened at $43.68 on Friday. The stock's 50 day simple moving average is $40.55 and its 200 day simple moving average is $39.47. Atlanta Braves has a 12-month low of $35.46 and a 12-month high of $44.43. The stock has a market capitalization of $2.24 billion, a PE ratio of -124.80 and a beta of 0.54.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The financial services provider reported ($0.66) EPS for the quarter, beating the consensus estimate of ($0.94) by $0.28. The business had revenue of $47.21 million for the quarter, compared to analysts' expectations of $36.87 million. On average, research analysts predict that Atlanta Braves will post -0.89 earnings per share for the current year.

Insider Transactions at Atlanta Braves

In other news, EVP Derek Gordon Schiller sold 72,505 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $43.00, for a total value of $3,117,715.00. Following the sale, the executive vice president now owns 300,233 shares in the company, valued at $12,910,019. This represents a 19.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael P. Plant sold 69,000 shares of Atlanta Braves stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $43.00, for a total value of $2,967,000.00. Following the transaction, the executive vice president now owns 205,593 shares of the company's stock, valued at $8,840,499. The trade was a 25.13% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 121,872 shares of company stock worth $5,043,730 and have sold 147,272 shares worth $6,322,139. Insiders own 11.43% of the company's stock.

Hedge Funds Weigh In On Atlanta Braves

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Aristeia Capital L.L.C. lifted its stake in shares of Atlanta Braves by 2.3% in the 1st quarter. Aristeia Capital L.L.C. now owns 2,470,052 shares of the financial services provider's stock valued at $98,827,000 after purchasing an additional 55,690 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in Atlanta Braves by 8.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,829,000 shares of the financial services provider's stock worth $73,179,000 after buying an additional 138,111 shares during the period. Broad Bay Capital Management LP boosted its stake in Atlanta Braves by 24.3% during the first quarter. Broad Bay Capital Management LP now owns 1,732,882 shares of the financial services provider's stock worth $69,333,000 after buying an additional 338,655 shares during the period. Gabelli Funds LLC increased its position in shares of Atlanta Braves by 3.7% during the first quarter. Gabelli Funds LLC now owns 1,473,271 shares of the financial services provider's stock valued at $58,946,000 after acquiring an additional 52,777 shares during the last quarter. Finally, Gamco Investors INC. ET AL lifted its holdings in shares of Atlanta Braves by 1.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 1,457,676 shares of the financial services provider's stock worth $55,771,000 after acquiring an additional 21,659 shares during the last quarter. Hedge funds and other institutional investors 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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