Atlanta Braves (NASDAQ:BATRK) Earns “Buy” Rating from Rosenblatt Securities

Atlanta Braves (NASDAQ:BATRK)‘s stock had its “buy” rating reissued by analysts at Rosenblatt Securities in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $69.00 price target on the financial services provider’s stock. Rosenblatt Securities’ target price indicates a potential upside of 78.90% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of Atlanta Braves from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Weiss Ratings restated a “sell (d)” rating on shares of Atlanta Braves in a research report on Wednesday, November 19th. Finally, Zacks Research raised Atlanta Braves from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Atlanta Braves has a consensus rating of “Moderate Buy” and an average price target of $57.00.

Atlanta Braves Stock Performance

NASDAQ BATRK opened at $38.57 on Tuesday. The firm has a market capitalization of $1.99 billion, a P/E ratio of -964.01 and a beta of 0.62. The stock has a 50-day simple moving average of $39.70 and a two-hundred day simple moving average of $42.37. Atlanta Braves has a fifty-two week low of $35.46 and a fifty-two week high of $47.18.

Atlanta Braves (NASDAQ:BATRK) last issued its earnings results on Wednesday, November 5th. The financial services provider reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.23. The company had revenue of $311.54 million during the quarter, compared to analysts’ expectations of $309.06 million. As a group, analysts forecast that Atlanta Braves will post -0.89 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder John C. Malone bought 28,567 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were acquired at an average price of $41.97 per share, for a total transaction of $1,198,956.99. Following the completion of the transaction, the insider directly owned 479,972 shares in the company, valued at $20,144,424.84. The trade was a 6.33% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Gamco Investors, Inc. Et Al sold 1,100 shares of the business’s stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $45.19, for a total value of $49,709.00. Following the sale, the insider owned 1,800 shares of the company’s stock, valued at $81,342. The trade was a 37.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have acquired 67,236 shares of company stock valued at $2,822,097 and have sold 3,700 shares valued at $167,859. 11.43% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Atlanta Braves

Several institutional investors have recently modified their holdings of BATRK. Wellington Management Group LLP lifted its position in Atlanta Braves by 105.9% during the first quarter. Wellington Management Group LLP now owns 1,348,113 shares of the financial services provider’s stock worth $53,938,000 after buying an additional 693,351 shares during the period. Dendur Capital LP acquired a new stake in shares of Atlanta Braves during the second quarter worth approximately $20,111,000. Irenic Capital Management LP bought a new stake in shares of Atlanta Braves in the 1st quarter worth about $15,794,000. Qube Research & Technologies Ltd lifted its holdings in 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 worth $18,140,000 after buying an additional 363,953 shares during the last quarter. Finally, Broad Bay Capital Management LP boosted its holdings in Atlanta Braves by 24.3% in 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 purchasing an additional 338,655 shares during the period. 64.88% of the stock is owned by hedge funds and other institutional investors.

About Atlanta Braves

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.