Rosenblatt Securities Lowers Atlanta Braves (NASDAQ:BATRK) Price Target to $73.00

Key Points

• Rosenblatt Securities lowered Atlanta Braves’ price target from $75 to $73 but maintained a “Buy” rating, implying roughly 49.6% upside from the previous close.
• Analyst sentiment is mixed: BATRK has an average “Hold” rating and a consensus target price of $63.50, with ratings ranging from Buy to Sell.
• The company reported a quarterly loss of $0.19 per share, missing estimates by $0.50, while revenue of $305.12 million also fell short of the $319 million consensus estimate.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) had its target price decreased by equities research analysts at Rosenblatt Securities from $75.00 to $73.00 in a report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the financial services provider's stock. Rosenblatt Securities' target price would suggest a potential upside of 49.56% from the company's previous close.

BATRK has been the topic of a number of other research reports. Morgan Stanley lowered Atlanta Braves from an "overweight" rating to an "equal weight" rating and set a $54.00 target price on the stock. in a report on Wednesday, July 15th. Wall Street Zen upgraded Atlanta Braves from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Weiss Ratings reissued a "sell (d-)" rating on shares of Atlanta Braves in a research report on Wednesday, June 24th. Finally, Zacks Research lowered shares of Atlanta Braves from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $63.50.

Atlanta Braves Stock Performance

BATRK opened at $48.81 on Friday. The firm has a market cap of $2.58 billion, a P/E ratio of -48.33 and a beta of 0.68. The business has a 50 day moving average price of $50.93 and a 200 day moving average price of $46.83. Atlanta Braves has a twelve month low of $37.76 and a twelve month high of $53.25.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The financial services provider reported ($0.19) earnings per share for the quarter, missing analysts' consensus estimates of $0.31 by ($0.50). The firm had revenue of $305.12 million for the quarter, compared to analyst estimates of $319.00 million. As a group, analysts anticipate that Atlanta Braves will post -0.06 earnings per share for the current fiscal year.

Institutional Trading of Atlanta Braves

Several institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp acquired a new position in Atlanta Braves in the second quarter worth about $1,051,000. S&CO Inc. bought a new stake in Atlanta Braves in the second quarter valued at $1,011,000. Janus Henderson Group PLC lifted its holdings in shares of Atlanta Braves by 13.2% during the first quarter. Janus Henderson Group PLC now owns 834,765 shares of the financial services provider's stock valued at $35,645,000 after acquiring an additional 97,443 shares during the period. Amundi acquired a new stake in shares of Atlanta Braves in the 1st quarter valued at $752,000. Finally, California State Teachers Retirement System increased its position in shares of Atlanta Braves by 10.0% during the 1st quarter. California State Teachers Retirement System now owns 47,166 shares of the financial services provider's stock worth $2,014,000 after purchasing an additional 4,291 shares in the last quarter. 64.88% of the stock is currently owned by institutional investors and hedge funds.

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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