Atlanta Braves (NASDAQ:BATRK) Price Target Raised to $69.00

by · The Cerbat Gem

Atlanta Braves (NASDAQ:BATRK – Free Report) had its price objective lifted by Rosenblatt Securities from $52.00 to $69.00 in a report released on Friday morning,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

A number of other research analysts also recently issued reports on the stock. Wall Street Zen raised shares of Atlanta Braves from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Citigroup upgraded shares of Atlanta Braves to a “hold” rating and set a $45.00 target price on the stock in a report on Friday, June 13th.

Read Our Latest Stock Analysis on BATRK

Atlanta Braves Trading Up 5.3%

Shares of Atlanta Braves stock opened at $45.99 on Friday. The company’s fifty day simple moving average is $40.71 and its two-hundred day simple moving average is $39.49. The company has a market cap of $2.36 billion, a P/E ratio of -131.40 and a beta of 0.55. Atlanta Braves has a 12-month low of $35.46 and a 12-month high of $46.93.

Atlanta Braves (NASDAQ:BATRK – Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The financial services provider reported ($0.66) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.94) by $0.28. The company had revenue of $47.21 million for the quarter, compared to analysts’ expectations of $36.87 million. Analysts predict that Atlanta Braves will post -0.89 EPS for the current fiscal year.

Insider Activity

In related news, 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 transaction, the executive vice president now owns 300,233 shares in the company, valued at $12,910,019. The trade was a 19.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder John C. Malone purchased 38,452 shares of the company’s stock in a transaction that occurred on Tuesday, April 8th. The stock was purchased at an average price of $40.28 per share, for a total transaction of $1,548,846.56. Following 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 disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 121,872 shares of company stock worth $5,043,730 and have sold 147,272 shares worth $6,322,139.

Hedge Funds Weigh In On Atlanta Braves

Hedge funds have recently bought and sold shares of the business. CWM LLC raised its position in Atlanta Braves by 56.4% in the 1st quarter. CWM LLC now owns 824 shares of the financial services provider’s stock worth $33,000 after buying an additional 297 shares during the last quarter. Federated Hermes Inc. purchased a new position in Atlanta Braves in the 4th quarter worth about $40,000. Comerica Bank raised its position in Atlanta Braves by 44.8% in the 1st quarter. Comerica Bank now owns 1,031 shares of the financial services provider’s stock worth $41,000 after buying an additional 319 shares during the last quarter. Summit Securities Group LLC purchased a new position in Atlanta Braves in the 1st quarter worth about $60,000. Finally, Versant Capital Management Inc increased its position in shares of Atlanta Braves by 335.7% during the 1st quarter. Versant Capital Management Inc now owns 1,817 shares of the financial services provider’s stock valued at $73,000 after purchasing an additional 1,400 shares during the last quarter. Hedge funds and other institutional investors own 64.88% of the company’s stock.

Atlanta Braves Company Profile

(Get Free Report)

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.

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