Atlanta Braves (NASDAQ:BATRK) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Atlanta Braves (NASDAQ:BATRK) from a "hold" to a "strong-buy," while analysts overall give a consensus rating of "Moderate Buy" with a $57 average price target.
• The trust topped quarterly expectations with EPS of ($0.28) vs. ($0.66) estimated and revenue of $61.3M vs. $54.93M, and its shares trade near $43.74 with a market cap of about $2.3 billion and a 12‑month range of $35.46–$47.18.
• Major shareholder John C. Malone purchased 35,000 shares at roughly $44.23 (a 7.19% increase in his holdings); insiders own about 11.43% and institutions hold roughly 64.9% of the stock.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) was upgraded by equities researchers at Zacks Research from a "hold" rating to a "strong-buy" rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other research firms have also weighed in on BATRK. Wall Street Zen raised shares of Atlanta Braves from a "sell" rating to a "hold" rating in a research report on Saturday, December 6th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $69.00 price target on shares of Atlanta Braves in a research report on Thursday, February 26th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Atlanta Braves in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $57.00.

Atlanta Braves Stock Down 0.5%

Shares of BATRK stock opened at $43.74 on Thursday. Atlanta Braves has a 12 month low of $35.46 and a 12 month high of $47.18. The company has a market cap of $2.30 billion, a PE ratio of -112.15 and a beta of 0.55. The business's 50 day moving average is $41.01 and its two-hundred day moving average is $40.73.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The financial services provider reported ($0.28) earnings per share for the quarter, topping analysts' consensus estimates of ($0.66) by $0.38. The firm had revenue of $61.30 million during the quarter, compared to analyst estimates of $54.93 million. As a group, equities analysts expect that Atlanta Braves will post -0.89 EPS for the current fiscal year.

Insider Activity at Atlanta Braves

In related news, major shareholder John C. Malone bought 35,000 shares of Atlanta Braves stock in a transaction that occurred on Thursday, February 5th. The stock was acquired at an average price of $44.23 per share, for a total transaction of $1,548,050.00. Following the completion of the purchase, the insider owned 521,862 shares in the company, valued at approximately $23,081,956.26. This represents a 7.19% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 11.43% of the company's stock.

Hedge Funds Weigh In On Atlanta Braves

Several institutional investors and hedge funds have recently added to or reduced their stakes in BATRK. Comerica Bank increased its position in shares of Atlanta Braves by 44.8% during the first quarter. Comerica Bank now owns 1,031 shares of the financial services provider's stock valued at $41,000 after purchasing an additional 319 shares during the period. AQR Capital Management LLC bought a new position in Atlanta Braves in the first quarter worth $382,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Atlanta Braves by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,839 shares of the financial services provider's stock worth $1,194,000 after buying an additional 1,302 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in Atlanta Braves by 12,972.7% in the 1st quarter. Jones Financial Companies Lllp now owns 18,694 shares of the financial services provider's stock valued at $748,000 after buying an additional 18,551 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of Atlanta Braves by 8.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 269,383 shares of the financial services provider's stock valued at $10,778,000 after buying an additional 21,883 shares in the last quarter. 64.88% of the stock is currently 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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