Atlanta Braves (NASDAQ:BATRK) Downgraded to “Equal Weight” Rating by Morgan Stanley

Morgan Stanley lowered shares of Atlanta Braves (NASDAQ:BATRK) from an overweight rating to an equal weight rating in a research note released on Wednesday, MarketBeat Ratings reports. Morgan Stanley currently has $54.00 price objective on the financial services provider’s stock.

BATRK has been the topic of a number of other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Atlanta Braves in a report on Wednesday, June 24th. Zacks Research downgraded shares of Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Wall Street Zen upgraded shares of Atlanta Braves from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Rosenblatt Securities increased their target price on shares of Atlanta Braves from $69.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Atlanta Braves presently has a consensus rating of “Hold” and an average target price of $64.50.

Atlanta Braves Price Performance

Shares of BATRK opened at $51.28 on Wednesday. The company has a 50-day moving average of $50.79 and a two-hundred day moving average of $45.60. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of -142.44 and a beta of 0.68. Atlanta Braves has a one year low of $37.76 and a one year high of $53.25.

Atlanta Braves (NASDAQ:BATRK) last issued its quarterly earnings results on Monday, May 11th. The financial services provider reported ($0.63) EPS for the quarter, beating the consensus estimate of ($0.83) by $0.20. The firm had revenue of $72.01 million during the quarter, compared to analysts’ expectations of $64.60 million. Analysts anticipate that Atlanta Braves will post 0.02 earnings per share for the current year.

Hedge Funds Weigh In On Atlanta Braves

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BATRK. Lido Advisors LLC grew its position in shares of Atlanta Braves by 5.1% during the 3rd quarter. Lido Advisors LLC now owns 5,512 shares of the financial services provider’s stock worth $229,000 after buying an additional 269 shares during the period. California State Teachers Retirement System lifted its position in shares of Atlanta Braves by 0.7% during the 2nd quarter. California State Teachers Retirement System now owns 39,984 shares of the financial services provider’s stock valued at $1,870,000 after acquiring an additional 285 shares during the period. Rockefeller Capital Management L.P. lifted its position in shares of Atlanta Braves by 4.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 6,745 shares of the financial services provider’s stock valued at $266,000 after acquiring an additional 310 shares during the period. Comerica Bank boosted its stake in Atlanta Braves by 44.8% during the first quarter. Comerica Bank now owns 1,031 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 319 shares in the last quarter. Finally, Diversify Advisory Services LLC boosted its stake in Atlanta Braves by 2.0% during the fourth quarter. Diversify Advisory Services LLC now owns 16,743 shares of the financial services provider’s stock worth $671,000 after acquiring an additional 323 shares in the last quarter. Institutional investors and hedge funds own 64.88% of the company’s stock.

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.