Rosenblatt Securities Issues Positive Forecast for Atlanta Braves (NASDAQ:BATRK) Stock Price

Atlanta Braves (NASDAQ:BATRK) had its price target upped by research analysts at Rosenblatt Securities from $73.00 to $91.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Rosenblatt Securities‘s price objective would indicate a potential upside of 74.26% from the stock’s previous close.

Several other research firms have also weighed in on BATRK. Weiss Ratings restated a “sell (d-)” rating on shares of Atlanta Braves in a research report on Monday, September 21st. Zacks Research cut shares of Atlanta Braves from a “hold” rating to a “strong sell” rating in a report on Friday, November 6th. Wall Street Zen downgraded shares of Atlanta Braves from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 8th. Finally, Morgan Stanley downgraded shares of Atlanta Braves from an “overweight” rating to an “equal weight” rating and set a $54.00 target price on the stock. in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Atlanta Braves currently has an average rating of “Reduce” and an average price target of $72.50.

Atlanta Braves Price Performance

Shares of NASDAQ BATRK opened at $52.22 on Thursday. Atlanta Braves has a 1 year low of $37.76 and a 1 year high of $54.86. The stock has a market capitalization of $2.76 billion, a P/E ratio of -39.26 and a beta of 0.67. The company’s 50-day moving average is $51.16 and its 200 day moving average is $48.51.

Atlanta Braves (NASDAQ:BATRK) last issued its quarterly earnings data on Wednesday, November 4th. The financial services provider reported $0.15 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.33). The business had revenue of $324.63 million for the quarter, compared to analyst estimates of $348.00 million. Research analysts anticipate that Atlanta Braves will post -0.73 earnings per share for the current year.

Insider Activity at Atlanta Braves

In other Atlanta Braves news, EVP Derek Schiller sold 175,395 shares of Atlanta Braves stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $53.20, for a total transaction of $9,331,014.00. Following the completion of the transaction, the executive vice president owned 316,908 shares in the company, valued at approximately $16,859,505.60. The trade was a 35.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gregory Heller sold 80,263 shares of the business’s stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of $53.89, for a total value of $4,325,373.07. Following the completion of the sale, the executive vice president directly owned 22,741 shares in the company, valued at $1,225,512.49. This trade represents a 77.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 11.43% of the company’s stock.

Institutional Investors Weigh In On Atlanta Braves

A number of institutional investors have recently modified their holdings of the stock. Composition Wealth LLC grew its position in Atlanta Braves by 0.4% during the 3rd quarter. Composition Wealth LLC now owns 193,123 shares of the financial services provider’s stock valued at $10,224,000 after purchasing an additional 784 shares during the last quarter. Virtus Advisers LLC raised its holdings in Atlanta Braves by 16.8% in the third quarter. Virtus Advisers LLC now owns 2,955 shares of the financial services provider’s stock worth $156,000 after buying an additional 424 shares during the last quarter. R Squared Ltd purchased a new position in Atlanta Braves in the third quarter worth about $289,000. Fulcrum Asset Management LLP purchased a new position in Atlanta Braves in the third quarter worth about $652,000. Finally, Parallel Advisors LLC lifted its stake in shares of Atlanta Braves by 16.6% in the third quarter. Parallel Advisors LLC now owns 4,632 shares of the financial services provider’s stock worth $245,000 after buying an additional 661 shares in the last quarter. 64.88% of the stock is owned by hedge funds and other institutional investors.

About Atlanta Braves

Atlanta Braves Holdings, Inc. owns and operates the Atlanta Braves, a professional baseball team in Major League Baseball’s National League. The organization generates business through its baseball operations and related activities, including ticket sales, sponsorships, broadcasting, concessions and merchandise. The Braves trace their history to the Boston Red Stockings, established in 1871, and are recognized as one of Major League Baseball’s oldest continuously operating franchises. The team moved to Milwaukee in 1953 and to Atlanta in 1966.