Atlanta Braves (NASDAQ:BATRK) Sets New 12-Month High – What’s Next?

Atlanta Braves Holdings, Inc. (NASDAQ:BATRK)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $54.14 and last traded at $53.97, with a volume of 69085 shares changing hands. The stock had previously closed at $53.00.

Analyst Ratings Changes

A number of analysts recently commented on BATRK shares. Rosenblatt Securities decreased their price objective on shares of Atlanta Braves from $75.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Atlanta Braves in a report on Wednesday, June 24th. Zacks Research downgraded shares of Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Wall Street Zen lowered Atlanta Braves from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 8th. Finally, Morgan Stanley lowered Atlanta Braves from an “overweight” rating to an “equal weight” rating and set a $54.00 price target on the stock. in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Atlanta Braves has a consensus rating of “Hold” and an average price target of $63.50.

Atlanta Braves Price Performance

The company has a 50-day moving average of $51.23 and a two-hundred day moving average of $47.29. The stock has a market capitalization of $2.83 billion, a PE ratio of -53.05 and a beta of 0.68.

Atlanta Braves (NASDAQ:BATRK) last released its earnings results on Wednesday, August 5th. The financial services provider reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.50). The company had revenue of $305.12 million for the quarter, compared to analysts’ expectations of $319.00 million. On average, research analysts forecast that Atlanta Braves Holdings, Inc. will post -0.37 EPS for the current fiscal year.

Institutional Trading of Atlanta Braves

Several large investors have recently bought and sold shares of BATRK. Troluce Capital Advisors LLC increased its stake in shares of Atlanta Braves by 274.9% in the first quarter. Troluce Capital Advisors LLC now owns 2,000,000 shares of the financial services provider’s stock worth $85,400,000 after buying an additional 1,466,584 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Atlanta Braves by 13.2% during the 1st quarter. Janus Henderson Group PLC now owns 834,765 shares of the financial services provider’s stock valued at $35,645,000 after acquiring an additional 97,443 shares during the last quarter. Capula Management Ltd bought a new position in Atlanta Braves during the 1st quarter valued at $2,504,000. Southpoint Capital Advisors LP grew its holdings 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 worth $38,430,000 after acquiring an additional 200,000 shares in the last quarter. Finally, UBS Group AG grew its holdings in Atlanta Braves by 14.5% during the 4th quarter. UBS Group AG now owns 557,102 shares of the financial services provider’s stock worth $21,978,000 after acquiring an additional 70,341 shares in the last quarter. Institutional investors and hedge funds own 64.88% of the company’s stock.

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.