Atlanta Braves (NASDAQ:BATRK) Now Covered by Analysts at Citigroup

Citigroup assumed coverage on shares of Atlanta Braves (NASDAQ:BATRK) in a research report report published on Friday morning,Benzinga reports. The firm issued a neutral rating and a $45.00 target price on the financial services provider’s stock.

Separately, Wall Street Zen upgraded Atlanta Braves from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd.

Atlanta Braves Trading Down 1.5%

Atlanta Braves stock opened at $42.51 on Friday. The firm has a market capitalization of $2.18 billion, a P/E ratio of -58.23 and a beta of 0.54. The stock has a fifty day moving average price of $40.08 and a 200 day moving average price of $39.38. Atlanta Braves has a 52 week low of $35.46 and a 52 week high of $44.43.

Atlanta Braves (NASDAQ:BATRK) last released its earnings results on Monday, May 12th. The financial services provider reported ($0.66) EPS for the quarter, beating the consensus estimate of ($0.94) by $0.28. The business had revenue of $47.21 million during the quarter, compared to analyst estimates of $36.87 million. As a group, equities analysts predict that Atlanta Braves will post -0.89 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder John C. Malone bought 38,452 shares of the stock in a transaction dated Tuesday, April 8th. The stock was acquired at an average price of $40.28 per share, for a total transaction of $1,548,846.56. Following the completion of the purchase, the insider now owns 254,428 shares in the company, valued at $10,248,359.84. This represents a 17.80% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Derek Gordon Schiller sold 72,505 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $43.00, for a total value of $3,117,715.00. Following the completion of the sale, the executive vice president now owns 300,233 shares of the company’s stock, valued at approximately $12,910,019. This trade represents a 19.45% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders bought 121,872 shares of company stock worth $5,043,730 and sold 147,272 shares worth $6,322,139. 11.43% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Atlanta Braves

A number of large investors have recently modified their holdings of BATRK. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Atlanta Braves by 5.5% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,501 shares of the financial services provider’s stock valued at $440,000 after buying an additional 604 shares in the last quarter. ABC Arbitrage SA purchased a new position in Atlanta Braves in the fourth quarter valued at about $204,000. Rhumbline Advisers boosted its holdings in Atlanta Braves by 16.8% in the fourth quarter. Rhumbline Advisers now owns 80,240 shares of the financial services provider’s stock valued at $3,070,000 after purchasing an additional 11,554 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in Atlanta Braves by 12.7% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 52,050 shares of the financial services provider’s stock valued at $1,991,000 after purchasing an additional 5,877 shares during the last quarter. Finally, Truist Financial Corp boosted its holdings in Atlanta Braves by 5.2% in the fourth quarter. Truist Financial Corp now owns 10,892 shares of the financial services provider’s stock valued at $417,000 after purchasing an additional 535 shares during the last quarter. Institutional investors and hedge funds own 64.88% of the company’s stock.

Atlanta Braves Company Profile

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.