Atlanta Braves (NASDAQ:BATRK) Hits New 12-Month High – Here’s Why

Atlanta Braves Holdings, Inc. (NASDAQ:BATRK)’s share price hit a new 52-week high on Wednesday . The company traded as high as $52.11 and last traded at $51.7150, with a volume of 87662 shares changing hands. The stock had previously closed at $51.54.

Analyst Ratings Changes

BATRK has been the subject of several research analyst reports. Rosenblatt Securities upped their price target on Atlanta Braves from $69.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. Zacks Research cut Atlanta Braves from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Wall Street Zen raised shares of Atlanta Braves from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Atlanta Braves in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $75.00.

Atlanta Braves Price Performance

The company has a 50-day moving average price of $49.17 and a two-hundred day moving average price of $43.94. The company has a market cap of $2.66 billion, a PE ratio of -139.94 and a beta of 0.71.

Atlanta Braves (NASDAQ:BATRK) last announced its earnings results on Monday, May 11th. The financial services provider reported ($0.63) EPS for the quarter, beating the consensus estimate of ($0.83) by $0.20. The company had revenue of $72.01 million for the quarter, compared to analysts’ expectations of $64.60 million. On average, equities research analysts anticipate that Atlanta Braves Holdings, Inc. will post 0.02 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. 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 during the period. AQR Capital Management LLC acquired a new stake in shares of Atlanta Braves during the first quarter valued at about $382,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Atlanta Braves by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,839 shares of the financial services provider’s stock valued at $1,194,000 after acquiring an additional 1,302 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Atlanta Braves by 12,972.7% during the first quarter. Jones Financial Companies Lllp now owns 18,694 shares of the financial services provider’s stock worth $748,000 after acquiring an additional 18,551 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Atlanta Braves by 8.8% in the first quarter. Goldman Sachs Group Inc. now owns 269,383 shares of the financial services provider’s stock worth $10,778,000 after acquiring an additional 21,883 shares in the last quarter. 64.88% of the stock is currently owned by hedge funds and other institutional investors.

Atlanta Braves Company Profile

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.