Atlanta Braves (NASDAQ:BATRK) Price Target Raised to $75.00

Atlanta Braves (NASDAQ:BATRK) had its price objective raised by Rosenblatt Securities from $69.00 to $75.00 in a research report released on Thursday,Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

A number of other equities research analysts also recently commented on BATRK. Weiss Ratings reiterated a “sell (d-)” rating on shares of Atlanta Braves in a report on Friday, March 27th. Zacks Research upgraded Atlanta Braves from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 5th. Finally, Wall Street Zen lowered Atlanta Braves from a “hold” rating to a “sell” rating in a research report on Saturday, March 14th. One 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $60.00.

Atlanta Braves Stock Performance

Shares of BATRK stock opened at $43.89 on Thursday. The firm’s 50 day moving average price is $42.22 and its two-hundred day moving average price is $40.63. 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 $2.31 billion, a PE ratio of -112.54 and a beta of 0.53.

Atlanta Braves (NASDAQ:BATRK) last issued its earnings results on Wednesday, February 25th. The financial services provider reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.66) by $0.38. The business had revenue of $61.30 million for the quarter, compared to the consensus estimate of $54.93 million. As a group, sell-side analysts predict that Atlanta Braves will post -0.89 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder John C. Malone acquired 35,000 shares of the stock in a transaction dated Thursday, February 5th. The stock was bought at an average price of $44.23 per share, with a total value of $1,548,050.00. Following the completion of the transaction, the insider directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.43% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Atlanta Braves

Several institutional investors have recently added to or reduced their stakes in the stock. Quent Capital LLC bought a new position in Atlanta Braves during the 3rd quarter worth about $28,000. First Horizon Corp bought a new stake in shares of Atlanta Braves in the third quarter valued at about $30,000. Farther Finance Advisors LLC lifted its holdings in shares of Atlanta Braves by 701.1% in the third quarter. Farther Finance Advisors LLC now owns 761 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 666 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of Atlanta Braves by 218.3% during the third quarter. Jones Financial Companies Lllp now owns 799 shares of the financial services provider’s stock worth $33,000 after buying an additional 548 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Atlanta Braves by 956.1% during the second quarter. EverSource Wealth Advisors LLC now owns 697 shares of the financial services provider’s stock worth $33,000 after buying an additional 631 shares in the last quarter. 64.88% of the stock is 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.