Atlanta Braves (NASDAQ:BATRK) Stock Rating Upgraded by Wall Street Zen

Atlanta Braves (NASDAQ:BATRK) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Several other research analysts have also issued reports on BATRK. Rosenblatt Securities restated a “buy” rating and issued a $69.00 price target on shares of Atlanta Braves in a research report on Tuesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Atlanta Braves in a research note on Monday. Finally, Zacks Research raised Atlanta Braves from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Atlanta Braves presently has an average rating of “Moderate Buy” and a consensus price target of $57.00.

Atlanta Braves Trading Up 0.1%

Shares of Atlanta Braves stock opened at $38.64 on Friday. Atlanta Braves has a 52 week low of $35.46 and a 52 week high of $47.18. The stock has a market cap of $1.99 billion, a PE ratio of -965.76 and a beta of 0.62. The company’s 50-day moving average price is $39.60 and its two-hundred day moving average price is $42.33.

Atlanta Braves (NASDAQ:BATRK) last announced its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.23. The business had revenue of $311.54 million during the quarter, compared to analyst estimates of $309.06 million. On average, equities analysts predict that Atlanta Braves will post -0.89 EPS for the current fiscal year.

Insider Activity at Atlanta Braves

In other news, major shareholder John C. Malone acquired 28,567 shares of the stock in a transaction on Monday, November 17th. The shares were purchased at an average cost of $41.97 per share, for a total transaction of $1,198,956.99. Following the transaction, the insider owned 479,972 shares in the company, valued at approximately $20,144,424.84. This trade represents a 6.33% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Gamco Investors, Inc. Et Al sold 1,100 shares of the stock in a transaction on Friday, September 19th. The shares were sold at an average price of $45.19, for a total value of $49,709.00. Following the completion of 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 position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have acquired 67,236 shares of company stock worth $2,822,097 and have sold 3,700 shares worth $167,859. Insiders own 11.43% of the company’s stock.

Institutional Investors Weigh In On Atlanta Braves

A number of institutional investors have recently bought and sold shares of the business. Elgethun Capital Management lifted its holdings in shares of Atlanta Braves by 6.8% during the 2nd quarter. Elgethun Capital Management now owns 145,531 shares of the financial services provider’s stock valued at $6,806,000 after buying an additional 9,250 shares during the last quarter. Parthenon LLC raised its position in Atlanta Braves by 83.1% during the second quarter. Parthenon LLC now owns 158,295 shares of the financial services provider’s stock valued at $7,403,000 after acquiring an additional 71,855 shares in the last quarter. Gabelli Funds LLC raised its position in 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 in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Atlanta Braves in the second quarter valued at approximately $288,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Atlanta Braves in the second quarter worth approximately $3,273,000. 64.88% of the stock is currently owned by institutional investors and hedge funds.

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.