Atlanta Braves (NASDAQ:BATRA) Reaches New 12-Month High - Should You Buy?

Atlanta Braves Holdings, Inc. (NASDAQ:BATRA - Get Free Report) shares hit a new 52-week high on Tuesday . The company traded as high as $49.48 and last traded at $49.39, with a volume of 25103 shares trading hands. The stock had previously closed at $49.23.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Benchmark reaffirmed a "buy" rating and issued a $60.00 target price on shares of Atlanta Braves in a research note on Thursday, February 27th. Citigroup assumed coverage on shares of Atlanta Braves in a research note on Friday, June 13th. They set a "neutral" rating and a $45.00 price target on the stock.

Atlanta Braves Price Performance

The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.40. The stock has a market cap of $3.08 billion, a P/E ratio of -142.31 and a beta of 0.57. The firm's fifty day moving average price is $44.67 and its 200-day moving average price is $43.01.

Atlanta Braves (NASDAQ:BATRA - Get Free Report) last issued its earnings results on Monday, May 12th. The financial services provider reported ($0.66) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.94) by $0.28. Atlanta Braves had a negative net margin of 3.18% and a negative return on equity of 4.07%. The firm had revenue of $47.21 million for the quarter, compared to analysts' expectations of $36.87 million. Analysts forecast that Atlanta Braves Holdings, Inc. will post -0.98 earnings per share for the current year.

Insider Activity at Atlanta Braves

In other Atlanta Braves news, EVP Deretta C. Rhodes sold 5,000 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $41.20, for a total transaction of $206,000.00. Following the completion of the transaction, the executive vice president now owns 3,112 shares of the company's stock, valued at approximately $128,214.40. This trade represents a 61.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Michael P. Plant sold 69,000 shares of the firm's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $43.00, for a total value of $2,967,000.00. Following the transaction, the executive vice president now directly owns 205,593 shares of the company's stock, valued at $8,840,499. This represents a 25.13% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 121,872 shares of company stock worth $5,043,730 and have sold 217,372 shares worth $9,451,951. 4.83% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Atlanta Braves

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS purchased a new position in Atlanta Braves during the fourth quarter valued at $53,000. GAMMA Investing LLC raised its position in shares of Atlanta Braves by 25.1% in the 1st quarter. GAMMA Investing LLC now owns 1,207 shares of the financial services provider's stock worth $53,000 after purchasing an additional 242 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Atlanta Braves in the 4th quarter worth about $59,000. PNC Financial Services Group Inc. raised its position in shares of Atlanta Braves by 157.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,495 shares of the financial services provider's stock worth $61,000 after purchasing an additional 914 shares during the last quarter. Finally, Ionic Capital Management LLC purchased a new position in shares of Atlanta Braves in the 4th quarter worth about $197,000. Hedge funds and other institutional investors own 12.31% of the company's stock.

Atlanta Braves Company Profile

Atlanta Braves Holdings, Inc owns and operates the Atlanta Braves Major league baseball club. It also operates mixed-use development project, including retail, office, hotel, and entertainment projects. The company was incorporated in 2022 and is based in Englewood, Colorado.