Atlanta Braves (NASDAQ:BATRA) Sets New 1-Year High - Still a Buy?

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

Wall Street Analysts Forecast Growth

Separately, Citigroup began coverage on Atlanta Braves in a research report on Friday, June 13th. They issued a "neutral" rating and a $45.00 price objective for the company.

Atlanta Braves Trading Up 0.5%

The firm has a market capitalization of $3.03 billion, a PE ratio of -140.11 and a beta of 0.68. The company's fifty day simple moving average is $44.93 and its 200-day simple moving average is $43.12. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.78 and a quick ratio of 0.78.

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

Insider Activity

In other news, EVP Derek Gordon Schiller sold 30,000 shares of the business's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $45.50, for a total transaction of $1,365,000.00. Following the transaction, the executive vice president directly owned 300,233 shares in the company, valued at $13,660,601.50. The trade was a 9.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael P. Plant sold 69,000 shares of the company's stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 205,593 shares of the company's stock, valued at $8,840,499. This trade represents a 25.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders bought 121,872 shares of company stock valued at $5,043,730 and sold 217,372 shares valued at $9,451,951. Company insiders own 4.83% of the company's stock.

Hedge Funds Weigh In On Atlanta Braves

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

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.