Atlanta Braves (NASDAQ:BATRA) Reaches New 52-Week High – What’s Next?

Shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRA) reached a new 52-week high during trading on Wednesday . The stock traded as high as $57.47 and last traded at $57.7590, with a volume of 3232 shares traded. The stock had previously closed at $56.31.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Atlanta Braves in a report on Monday, April 20th. Zacks Research cut Atlanta Braves from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

Atlanta Braves Price Performance

The company has a market capitalization of $3.60 billion, a PE ratio of -158.78 and a beta of 0.66. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 1.12. The company’s 50 day moving average price is $54.26 and its 200-day moving average price is $48.72.

Atlanta Braves (NASDAQ:BATRA) last released its quarterly earnings data on Monday, May 11th. The financial services provider reported ($0.63) EPS for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.09. The company had revenue of $72.01 million for the quarter, compared to the consensus estimate of $68.69 million. Atlanta Braves had a positive return on equity of 0.25% and a negative net margin of 2.97%. On average, sell-side analysts forecast that Atlanta Braves Holdings, Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Atlanta Braves

Several large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its stake in shares of Atlanta Braves by 1,873.1% during the second quarter. EverSource Wealth Advisors LLC now owns 513 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 487 shares in the last quarter. CWM LLC lifted its position in Atlanta Braves by 149.5% during the 4th quarter. CWM LLC now owns 1,457 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 873 shares in the last quarter. State of Wyoming acquired a new stake in Atlanta Braves in the second quarter valued at approximately $70,000. Quarry LP purchased a new stake in shares of Atlanta Braves during the third quarter valued at approximately $74,000. Finally, CIBC Private Wealth Group LLC lifted its position in shares of Atlanta Braves by 145.5% during the third quarter. CIBC Private Wealth Group LLC now owns 1,726 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 1,023 shares in the last quarter. Institutional investors and hedge funds own 12.31% of the company’s stock.

Atlanta Braves Company Profile

The Atlanta Braves (NASDAQ: BATRA) are a professional baseball club that competes in Major League Baseball’s National League East division. Founded in 1871 as the Boston Red Stockings, the franchise relocated to Milwaukee in 1953 before settling in Atlanta in 1966. As one of MLB’s oldest and most storied organizations, the Braves are responsible for fielding a Major League team, overseeing player development through a network of minor league affiliates, and managing baseball operations under the leadership of President of Baseball Operations Alex Anthopoulos.

Beyond on?field performance, the Braves operate a diversified sports and entertainment business.