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

Key Points

• Shares hit a new 52-week high of $55.80 (last $55.47) on Wednesday, rising about 3.7% with roughly 16,450 shares traded.
• Analysts remain cautious: MarketBeat shows an average rating of Reduce and an average target of $45.00, with recent downgrades from Weiss Ratings and Zacks.
• Atlanta Braves beat quarterly expectations—EPS ($0.28) vs. ($0.74) est. and revenue $61.3M vs. $54.93M—and major shareholder John C. Malone bought 35,000 shares at $44.23, increasing his stake.

Shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRA - Get Free Report) reached a new 52-week high on Wednesday . The stock traded as high as $55.80 and last traded at $55.4690, with a volume of 16450 shares changing hands. The stock had previously closed at $53.27.

Analysts Set New Price Targets

Several research analysts have issued reports on BATRA shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Atlanta Braves in a research note on Monday, April 20th. Zacks Research cut shares of Atlanta Braves from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of $45.00.

Atlanta Braves Stock Up 3.7%

The firm's 50 day moving average price is $49.21 and its 200-day moving average price is $45.40. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 1.16. The company has a market cap of $3.48 billion, a P/E ratio of -141.64 and a beta of 0.68.

Atlanta Braves (NASDAQ:BATRA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The financial services provider reported ($0.28) earnings per share for the quarter, beating analysts' consensus estimates of ($0.74) by $0.46. Atlanta Braves had a positive return on equity of 0.08% and a negative net margin of 3.19%.The company had revenue of $61.30 million for the quarter, compared to the consensus estimate of $54.93 million. As a group, equities research analysts expect that Atlanta Braves Holdings, Inc. will post 0.36 EPS for the current year.

Insider Transactions at Atlanta Braves

In related news, major shareholder John C. Malone bought 35,000 shares of the firm's stock in a transaction dated Thursday, February 5th. The stock was bought at an average cost of $44.23 per share, for a total transaction of $1,548,050.00. Following the transaction, the insider owned 521,862 shares of the company's stock, valued at $23,081,956.26. This represents a 7.19% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 5.40% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Fifth Third Bancorp acquired a new stake in Atlanta Braves in the first quarter worth $154,000. Krilogy Financial LLC bought a new position in Atlanta Braves during the first quarter worth about $504,000. Corient Private Wealth LLC grew its stake in Atlanta Braves by 4.0% in the fourth quarter. Corient Private Wealth LLC now owns 5,417 shares of the financial services provider's stock valued at $230,000 after acquiring an additional 206 shares during the period. Mercer Global Advisors Inc. ADV increased its holdings in shares of Atlanta Braves by 42.8% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 7,624 shares of the financial services provider's stock worth $324,000 after acquiring an additional 2,286 shares in the last quarter. Finally, Susquehanna Portfolio Strategies LLC acquired a new stake in shares of Atlanta Braves during the fourth quarter worth about $318,000. Institutional investors and hedge funds 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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