Atlanta Braves (NASDAQ:BATRK) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of Atlanta Braves (NASDAQ:BATRK) from a hold rating to a strong-buy rating in a research report report published on Thursday morning,Zacks.com reports.

Several other research analysts have also recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Atlanta Braves in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Atlanta Braves from a “hold” rating to a “sell” rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $57.00.

Atlanta Braves Stock Performance

Shares of BATRK stock traded down $0.16 during mid-day trading on Thursday, hitting $38.71. The company’s stock had a trading volume of 334,776 shares, compared to its average volume of 317,824. Atlanta Braves has a 52-week low of $35.46 and a 52-week high of $47.18. The business has a 50-day moving average price of $40.91 and a 200 day moving average price of $42.53. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of -967.51 and a beta of 0.61.

Atlanta Braves (NASDAQ:BATRK) last released its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $0.47 EPS for the quarter, beating the consensus estimate of $0.24 by $0.23. The business had revenue of $311.54 million for the quarter, compared to analysts’ expectations of $309.06 million. Equities research analysts predict that Atlanta Braves will post -0.89 EPS for the current fiscal year.

Insiders Place Their Bets

In other Atlanta Braves news, major shareholder Gamco Investors, Inc. Et Al sold 1,100 shares of the company’s stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $45.19, for a total value of $49,709.00. Following the completion of the transaction, the insider directly owned 1,800 shares in the company, valued at $81,342. This represents a 37.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder John C. Malone acquired 840 shares of Atlanta Braves stock in a transaction dated Monday, October 27th. The shares were bought at an average price of $41.99 per share, for a total transaction of $35,271.60. Following the transaction, the insider owned 372,547 shares of the company’s stock, valued at approximately $15,643,248.53. The trade was a 0.23% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have sold 3,700 shares of company stock worth $167,859. 11.43% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Atlanta Braves

A number of institutional investors and hedge funds have recently made changes to their positions in BATRK. Parthenon LLC boosted its position in Atlanta Braves by 83.1% in the 2nd quarter. Parthenon LLC now owns 158,295 shares of the financial services provider’s stock valued at $7,403,000 after buying an additional 71,855 shares during the period. Gabelli Funds LLC raised its holdings in shares of Atlanta Braves by 3.7% in 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 purchased a new stake in Atlanta Braves in the second quarter worth about $288,000. Longboard Asset Management LP purchased a new stake in Atlanta Braves in the second quarter worth about $315,000. Finally, Y Intercept Hong Kong Ltd bought a new position in Atlanta Braves during the 2nd quarter worth about $3,273,000. 64.88% of the stock is owned by hedge funds and other institutional investors.

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.