Atlanta Braves (NASDAQ:BATRK) Stock Rating Lowered by Morgan Stanley

Atlanta Braves (NASDAQ:BATRK) was downgraded by equities researchers at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research note issued on Wednesday, Marketbeat Ratings reports. They currently have a $54.00 target price on the financial services provider’s stock. Morgan Stanley’s price objective would indicate a potential upside of 3.69% from the company’s previous close.

Several other equities analysts have also weighed in on the stock. Rosenblatt Securities lifted their target price on shares of Atlanta Braves from $69.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Atlanta Braves in a research note on Wednesday, June 24th. Zacks Research lowered Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Wall Street Zen upgraded Atlanta Braves from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $64.50.

Atlanta Braves Stock Down 0.9%

BATRK stock opened at $52.08 on Wednesday. Atlanta Braves has a 52-week low of $37.76 and a 52-week high of $53.25. The stock’s fifty day simple moving average is $50.78 and its 200-day simple moving average is $45.52. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of -144.67 and a beta of 0.68.

Atlanta Braves (NASDAQ:BATRK) last released its earnings results on Monday, May 11th. The financial services provider reported ($0.63) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.20. The company had revenue of $72.01 million during the quarter, compared to analysts’ expectations of $64.60 million. As a group, analysts anticipate that Atlanta Braves will post 0.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BATRK. Janus Henderson Group PLC lifted its holdings in Atlanta Braves by 13.2% in the first quarter. Janus Henderson Group PLC now owns 834,765 shares of the financial services provider’s stock worth $35,645,000 after acquiring an additional 97,443 shares during the last quarter. Amundi acquired a new stake in shares of Atlanta Braves during the 1st quarter worth approximately $752,000. California State Teachers Retirement System lifted its holdings in shares of Atlanta Braves by 10.0% in the 1st quarter. California State Teachers Retirement System now owns 47,166 shares of the financial services provider’s stock worth $2,014,000 after purchasing an additional 4,291 shares during the last quarter. Quantinno Capital Management LP boosted its position in Atlanta Braves by 20.8% during the 1st quarter. Quantinno Capital Management LP now owns 42,924 shares of the financial services provider’s stock valued at $1,833,000 after purchasing an additional 7,380 shares during the period. Finally, Southpoint Capital Advisors LP boosted its position in Atlanta Braves by 28.6% during the 1st quarter. Southpoint Capital Advisors LP now owns 900,000 shares of the financial services provider’s stock valued at $38,430,000 after purchasing an additional 200,000 shares during the period. 64.88% of the stock is currently owned by institutional investors.

About Atlanta Braves

The Atlanta Braves Real Estate Ownership Trust (NASDAQ:BATRK) is a publicly traded real estate investment trust established in 2021 by Liberty Braves Group. The trust’s primary purpose is to own and manage a portfolio of sports and entertainment properties related to the Atlanta Braves baseball franchise. BATRK generates stable rental income by leasing its assets to the Braves Baseball Club, LLC, under long-term lease agreements designed to align property performance with franchise needs.

The trust’s portfolio is anchored by Truist Park, the 41,084-seat baseball stadium that has served as the Braves’ home since 2017.