Atlanta Braves (NASDAQ:BATRK) Stock Price Expected to Rise, Rosenblatt Securities Analyst Says

Atlanta Braves (NASDAQ:BATRK) had its price target increased by Rosenblatt Securities from $52.00 to $69.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Rosenblatt Securities’ price objective suggests a potential upside of 57.97% from the company’s previous close.

BATRK has been the topic of several other reports. Citigroup upgraded Atlanta Braves to a “hold” rating and set a $45.00 target price on the stock in a research report on Friday, June 13th. Wall Street Zen upgraded shares of Atlanta Braves from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd.

Atlanta Braves Stock Performance

Shares of NASDAQ BATRK opened at $43.68 on Friday. The stock’s 50-day simple moving average is $40.55 and its 200-day simple moving average is $39.47. The firm has a market capitalization of $2.24 billion, a PE ratio of -124.80 and a beta of 0.54. Atlanta Braves has a fifty-two week low of $35.46 and a fifty-two week high of $44.43.

Atlanta Braves (NASDAQ:BATRK) last announced its earnings results on Monday, May 12th. The financial services provider reported ($0.66) EPS for the quarter, beating analysts’ consensus estimates of ($0.94) by $0.28. The business had revenue of $47.21 million during the quarter, compared to analysts’ expectations of $36.87 million. On average, sell-side analysts forecast that Atlanta Braves will post -0.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Atlanta Braves news, EVP Deretta C. Rhodes sold 767 shares of the company’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $40.97, for a total transaction of $31,423.99. Following the completion of the sale, the executive vice president now directly owns 3,112 shares of the company’s stock, valued at approximately $127,498.64. This represents a 19.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Derek Gordon Schiller sold 72,505 shares of the company’s 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 transaction, the executive vice president now owns 300,233 shares in the company, valued at $12,910,019. This represents a 19.45% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 121,872 shares of company stock worth $5,043,730 and have sold 147,272 shares worth $6,322,139. 11.43% of the stock is currently owned by insiders.

Institutional Trading of Atlanta Braves

Institutional investors and hedge funds have recently modified their holdings of the company. Magnetar Financial LLC increased its position in Atlanta Braves by 161.9% during the fourth quarter. Magnetar Financial LLC now owns 13,328 shares of the financial services provider’s stock worth $510,000 after acquiring an additional 8,239 shares during the period. Rhumbline Advisers increased its holdings in shares of Atlanta Braves by 16.8% during the 4th quarter. Rhumbline Advisers now owns 80,240 shares of the financial services provider’s stock worth $3,070,000 after purchasing an additional 11,554 shares during the period. BNP Paribas Financial Markets acquired a new position in shares of Atlanta Braves during the fourth quarter valued at about $721,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Atlanta Braves during the 4th quarter worth approximately $337,000. Finally, Wellington Management Group LLP grew its holdings in shares of Atlanta Braves by 3.1% during the 4th quarter. Wellington Management Group LLP now owns 654,762 shares of the financial services provider’s stock worth $25,051,000 after purchasing an additional 19,718 shares in the last quarter. 64.88% of the stock is currently owned by institutional investors and hedge funds.

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.