Zacks Research Downgrades Atlanta Braves (NASDAQ:BATRK) to Hold

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

Other equities analysts have also recently issued research reports about the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Atlanta Braves in a research note on Friday, March 27th. Wall Street Zen cut shares of Atlanta Braves from a "hold" rating to a "sell" rating in a research note on Sunday, April 12th. Finally, Rosenblatt Securities upped their target price on shares of Atlanta Braves from $69.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, April 2nd. One research 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's stock. According to MarketBeat.com, Atlanta Braves currently has a consensus rating of "Hold" and a consensus price target of $60.00.

Atlanta Braves Price Performance

BATRK opened at $49.71 on Monday. The stock has a 50-day moving average price of $44.26 and a 200-day moving average price of $41.28. The firm has a market cap of $2.62 billion, a PE ratio of -127.46 and a beta of 0.53. Atlanta Braves has a 1 year low of $37.76 and a 1 year high of $50.33.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The financial services provider reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.66) by $0.38. The company had revenue of $61.30 million during the quarter, compared to analysts' expectations of $54.93 million. As a group, sell-side analysts anticipate that Atlanta Braves will post 0.09 EPS for the current year.

Insider Transactions at Atlanta Braves

In related news, major shareholder John C. Malone bought 35,000 shares of the stock in a transaction on Thursday, February 5th. The shares were acquired 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. The trade was a 7.19% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Institutional Investors Weigh In On Atlanta Braves

Several hedge funds and other institutional investors have recently made changes to their positions in BATRK. Troluce Capital Advisors LLC purchased a new stake in shares of Atlanta Braves during the 4th quarter valued at about $21,043,000. Hawk Ridge Capital Management LP increased its position in shares of Atlanta Braves by 16.5% during the 4th quarter. Hawk Ridge Capital Management LP now owns 2,661,429 shares of the financial services provider's stock valued at $104,993,000 after purchasing an additional 377,307 shares during the last quarter. Qube Research & Technologies Ltd increased its position in shares of Atlanta Braves by 504.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 436,158 shares of the financial services provider's stock valued at $18,140,000 after purchasing an additional 363,953 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Atlanta Braves by 12.8% during the 4th quarter. Vanguard Group Inc. now owns 2,789,084 shares of the financial services provider's stock valued at $110,029,000 after purchasing an additional 317,065 shares during the last quarter. Finally, Broad Bay Capital Management LP increased its position in shares of Atlanta Braves by 11.9% during the 4th quarter. Broad Bay Capital Management LP now owns 2,202,745 shares of the financial services provider's stock valued at $86,898,000 after purchasing an additional 233,771 shares during the last quarter. Hedge funds and other institutional investors 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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