Atlanta Braves (NASDAQ:BATRA) Hits New 52-Week High - Here's What Happened

Key Points

• Atlanta Braves (NASDAQ:BATRA) hit a new 52-week high, trading as high as $50.52 and last at $50.79 on Friday with 2,350 shares changing hands (stock up ~1.8%).
• Analysts are mixed: the consensus rating is Hold with an average price target of $45, while individual broker views range from Strong Buy to Sell.
• Major shareholder John C. Malone bought 35,000 shares at $44.23 in February (a ~7.19% increase to his position), and the company recently beat quarterly estimates with EPS of -$0.28 vs. -$0.74 expected and revenue of $61.3M vs. $54.93M expected.

Atlanta Braves Holdings, Inc. (NASDAQ:BATRA - Get Free Report) shares hit a new 52-week high on Friday . The stock traded as high as $50.52 and last traded at $50.79, with a volume of 2350 shares trading hands. The stock had previously closed at $50.01.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BATRA. Weiss Ratings reissued a "sell (d-)" rating on shares of Atlanta Braves in a research note on Wednesday, January 21st. Zacks Research raised shares of Atlanta Braves from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $45.00.

Atlanta Braves Stock Up 1.8%

The company has a market cap of $3.22 billion, a PE ratio of -130.96 and a beta of 0.54. The company's 50 day moving average is $47.69 and its 200 day moving average is $44.68. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 1.16.

Atlanta Braves (NASDAQ:BATRA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The financial services provider reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.74) by $0.46. The company had revenue of $61.30 million for the quarter, compared to the consensus estimate of $54.93 million. Atlanta Braves had a negative net margin of 3.19% and a positive return on equity of 0.08%. As a group, analysts predict that Atlanta Braves Holdings, Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Atlanta Braves news, major shareholder John C. Malone bought 35,000 shares of the business's stock in a transaction on Thursday, February 5th. The shares were acquired at an average price of $44.23 per share, with a total value of $1,548,050.00. Following the transaction, the insider owned 521,862 shares of the company's stock, valued at approximately $23,081,956.26. This trade represents a 7.19% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 5.40% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Gamco Investors INC. ET AL increased its position in Atlanta Braves by 3.6% during the 4th quarter. Gamco Investors INC. ET AL now owns 2,230,362 shares of the financial services provider's stock valued at $94,768,000 after purchasing an additional 76,853 shares during the period. Gabelli Funds LLC increased its position in Atlanta Braves by 4.8% during the 4th quarter. Gabelli Funds LLC now owns 905,400 shares of the financial services provider's stock valued at $38,470,000 after purchasing an additional 41,084 shares during the period. Vanguard Group Inc. increased its position in Atlanta Braves by 14.3% during the 3rd quarter. Vanguard Group Inc. now owns 685,557 shares of the financial services provider's stock valued at $31,172,000 after purchasing an additional 85,853 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in Atlanta Braves by 490,606.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 245,353 shares of the financial services provider's stock valued at $10,425,000 after purchasing an additional 245,303 shares during the period. Finally, Geode Capital Management LLC increased its position in Atlanta Braves by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 231,809 shares of the financial services provider's stock valued at $9,853,000 after purchasing an additional 2,655 shares during the period. Hedge funds and other institutional investors own 12.31% of the company's stock.

About Atlanta Braves

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.

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