Atlanta Braves (NASDAQ:BATRA) Sets New 12-Month High - Here's Why

Atlanta Braves Holdings, Inc. (NASDAQ:BATRA - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $46.94 and last traded at $46.44, with a volume of 40080 shares. The stock had previously closed at $45.49.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Benchmark restated a "buy" rating and set a $60.00 price target on shares of Atlanta Braves in a research note on Thursday, February 27th. Citigroup started coverage on Atlanta Braves in a report on Friday, June 13th. They issued a "neutral" rating and a $45.00 price objective on the stock.

Atlanta Braves Trading Up 1.6%

The business's 50-day moving average is $43.67 and its two-hundred day moving average is $42.66. The stock has a market capitalization of $2.86 billion, a PE ratio of -132.08 and a beta of 0.57. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.40.

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

Insiders Place Their Bets

In related news, EVP Deretta C. Rhodes sold 5,000 shares of the business's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $41.20, for a total transaction of $206,000.00. Following the sale, the executive vice president now owns 3,112 shares of the company's stock, valued at approximately $128,214.40. The trade was a 61.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Mario J. Gabelli purchased 1,549 shares of Atlanta Braves stock in a transaction dated Wednesday, May 28th. The shares were bought at an average price of $43.45 per share, with a total value of $67,304.05. Following the completion of the transaction, the insider now owns 27,152 shares in the company, valued at approximately $1,179,754.40. This trade represents a 6.05% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders bought 121,872 shares of company stock worth $5,043,730 and sold 147,272 shares worth $6,322,139. 4.83% of the stock is owned by insiders.

Institutional Trading of Atlanta Braves

Several institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC boosted its position in Atlanta Braves by 25.1% during the first 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 during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Atlanta Braves during the 4th quarter worth $53,000. BNP Paribas Financial Markets acquired a new stake in shares of Atlanta Braves during the fourth quarter worth $59,000. PNC Financial Services Group Inc. grew its position in shares of Atlanta Braves by 157.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,495 shares of the financial services provider's stock valued at $61,000 after purchasing an additional 914 shares during the period. Finally, AQR Capital Management LLC purchased a new stake in shares of Atlanta Braves in the first quarter valued at $211,000. 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.

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