Atlanta Braves (NASDAQ:BATRA) Hits New 12-Month High - What's Next?

Atlanta Braves Holdings, Inc. (NASDAQ:BATRA - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $50.00 and last traded at $49.46, with a volume of 10146 shares traded. The stock had previously closed at $49.81.

Wall Street Analysts Forecast Growth

Separately, Citigroup initiated coverage on shares of Atlanta Braves in a research note on Friday, June 13th. They issued a "neutral" rating and a $45.00 target price on the stock.

Atlanta Braves Trading Up 1.1%

The firm has a market cap of $3.07 billion, a price-to-earnings ratio of -141.62 and a beta of 0.69. 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 business has a 50 day moving average price of $45.18 and a 200-day moving average price of $43.22.

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

Insider Activity

In other Atlanta Braves news, EVP Michael P. Plant sold 69,000 shares of Atlanta Braves stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $43.00, for a total transaction of $2,967,000.00. Following the sale, the executive vice president directly owned 205,593 shares in the company, valued at $8,840,499. The trade was a 25.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder John C. Malone bought 44,258 shares of the company's stock in a transaction dated Thursday, April 10th. The stock was bought at an average cost of $41.80 per share, with a total value of $1,849,984.40. Following the transaction, the insider directly owned 330,870 shares in the company, valued at approximately $13,830,366. The trade was a 15.44% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 121,872 shares of company stock valued at $5,043,730 and have sold 217,372 shares valued at $9,451,951. 4.83% of the stock is currently owned by company insiders.

Institutional Trading of Atlanta Braves

Institutional investors and hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Atlanta Braves by 4.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,061 shares of the financial services provider's stock worth $266,000 after purchasing an additional 234 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Atlanta Braves by 25.1% during the 1st quarter. GAMMA Investing LLC now owns 1,207 shares of the financial services provider's stock worth $53,000 after acquiring an additional 242 shares in the last quarter. MAI Capital Management boosted its position in shares of Atlanta Braves by 5.4% in the 1st quarter. MAI Capital Management now owns 5,384 shares of the financial services provider's stock valued at $236,000 after purchasing an additional 275 shares during the period. Central Pacific Bank Trust Division increased its position in shares of Atlanta Braves by 2.4% in the first quarter. Central Pacific Bank Trust Division now owns 17,000 shares of the financial services provider's stock worth $746,000 after acquiring an additional 400 shares in the last quarter. Finally, Northern Trust Corp grew its position in Atlanta Braves by 0.5% during the 4th quarter. Northern Trust Corp now owns 95,644 shares of the financial services provider's stock worth $3,902,000 after purchasing an additional 436 shares in the last quarter. 12.31% of the stock is owned by institutional investors and hedge funds.

About Atlanta Braves

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.