Atlanta Braves (NASDAQ:BATRK) Sets New 12-Month High – Should You Buy?

by · The Cerbat Gem

Atlanta Braves Holdings, Inc. (NASDAQ:BATRKGet Free Report)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $49.33 and last traded at $49.1650, with a volume of 33938 shares traded. The stock had previously closed at $48.77.

Analyst Ratings Changes

BATRK has been the topic of several recent research reports. Wall Street Zen lowered Atlanta Braves from a “hold” rating to a “sell” rating in a research report on Sunday, April 12th. Zacks Research raised Atlanta Braves from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Atlanta Braves in a report on Friday, March 27th. Finally, Rosenblatt Securities upped their price target on Atlanta Braves from $69.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.00.

Check Out Our Latest Analysis on Atlanta Braves

Atlanta Braves Trading Down 1.0%

The company has a market cap of $2.54 billion, a price-to-earnings ratio of -123.64 and a beta of 0.53. The business has a fifty day moving average of $43.73 and a two-hundred day moving average of $41.03.

Atlanta Braves (NASDAQ:BATRKGet Free Report) last released its quarterly earnings results on Wednesday, February 25th. The financial services provider reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.38. The business had revenue of $61.30 million during the quarter, compared to analyst estimates of $54.93 million. On average, research analysts forecast that Atlanta Braves Holdings, Inc. will post 0.09 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder John C. Malone acquired 35,000 shares of the business’s stock in a transaction on Thursday, February 5th. The stock was bought at an average cost of $44.23 per share, for a total transaction of $1,548,050.00. Following the purchase, the insider owned 521,862 shares in the company, valued at approximately $23,081,956.26. This represents a 7.19% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 11.43% of the company’s stock.

Institutional Investors Weigh In On Atlanta Braves

Several large investors have recently bought and sold shares of the company. Lido Advisors LLC increased its stake in Atlanta Braves by 5.1% during the 3rd quarter. Lido Advisors LLC now owns 5,512 shares of the financial services provider’s stock worth $229,000 after buying an additional 269 shares in the last quarter. California State Teachers Retirement System increased its stake in Atlanta Braves by 0.7% during the 2nd quarter. California State Teachers Retirement System now owns 39,984 shares of the financial services provider’s stock worth $1,870,000 after buying an additional 285 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in Atlanta Braves by 4.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 6,745 shares of the financial services provider’s stock worth $266,000 after buying an additional 310 shares in the last quarter. Comerica Bank increased its stake in Atlanta Braves by 44.8% during 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 in the last quarter. Finally, Diversify Advisory Services LLC increased its stake in Atlanta Braves by 2.0% during the 4th quarter. Diversify Advisory Services LLC now owns 16,743 shares of the financial services provider’s stock worth $671,000 after buying an additional 323 shares in the last quarter. 64.88% of the stock is currently owned by hedge funds and other institutional investors.

About Atlanta Braves

(Get Free Report)

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.

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