Atlanta Braves (NASDAQ:BATRK) PT Lowered to $53.00 at Rosenblatt Securities

Atlanta Braves (NASDAQ:BATRK) had its target price cut by Rosenblatt Securities from $54.00 to $53.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Atlanta Braves Stock Performance

Shares of NASDAQ BATRK opened at $41.90 on Wednesday. The stock has a market cap of $2.12 billion and a price-to-earnings ratio of -20.95. The business has a 50 day simple moving average of $41.08 and a 200 day simple moving average of $39.72. Atlanta Braves has a 52 week low of $33.95 and a 52 week high of $44.15.

Atlanta Braves (NASDAQ:BATRK) last posted its earnings results on Thursday, August 8th. The financial services provider reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.05. The company had revenue of $282.88 million for the quarter, compared to the consensus estimate of $288.20 million. During the same quarter last year, the business earned ($0.55) earnings per share. On average, analysts predict that Atlanta Braves will post -0.46 EPS for the current year.

Insider Buying and Selling at Atlanta Braves

In related news, major shareholder Associated Capital Group, Inc. bought 2,000 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were acquired at an average price of $39.96 per share, with a total value of $79,920.00. Following the completion of the transaction, the insider now owns 7,550 shares of the company’s stock, valued at approximately $301,698. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired 3,000 shares of company stock valued at $121,765 in the last 90 days. 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. Aristeia Capital L.L.C. raised its stake in Atlanta Braves by 42.9% during the second quarter. Aristeia Capital L.L.C. now owns 1,321,464 shares of the financial services provider’s stock worth $52,119,000 after acquiring an additional 396,720 shares in the last quarter. Breach Inlet Capital Management LLC acquired a new stake in shares of Atlanta Braves during the 4th quarter worth about $15,556,000. Freshford Capital Management LLC lifted its holdings in Atlanta Braves by 84.9% during the 4th quarter. Freshford Capital Management LLC now owns 762,359 shares of the financial services provider’s stock valued at $30,174,000 after purchasing an additional 350,000 shares during the last quarter. Broad Bay Capital Management LP boosted its position in Atlanta Braves by 17.4% in the fourth quarter. Broad Bay Capital Management LP now owns 2,023,789 shares of the financial services provider’s stock valued at $80,102,000 after buying an additional 300,000 shares in the last quarter. Finally, Schwartz Investment Counsel Inc. grew its stake in Atlanta Braves by 54.6% during the second quarter. Schwartz Investment Counsel Inc. now owns 542,264 shares of the financial services provider’s stock worth $21,387,000 after buying an additional 191,478 shares during the last quarter. 64.88% of the stock is currently owned by institutional investors.

About Atlanta Braves

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.