Atlanta Braves (NASDAQ:BATRK) Hits New 12-Month High After Analyst Upgrade

Shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Get Free Report) hit a new 52-week high during mid-day trading on Friday after Rosenblatt Securities raised their price target on the stock from $52.00 to $69.00. Rosenblatt Securities currently has a buy rating on the stock. Atlanta Braves traded as high as $44.74 and last traded at $44.52, with a volume of 83597 shares. The stock had previously closed at $43.68.

Other research analysts have also issued reports about the stock. Wall Street Zen raised shares of Atlanta Braves from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Citigroup upgraded shares of Atlanta Braves to a "hold" rating and set a $45.00 price objective for the company in a report on Friday, June 13th.

Insider Buying and Selling

In related news, EVP Deretta C. Rhodes sold 767 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $40.97, for a total value of $31,423.99. Following the transaction, the executive vice president now directly owns 3,112 shares in the company, valued at approximately $127,498.64. This represents a 19.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Mario J. Gabelli bought 1,549 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were acquired at an average cost of $43.45 per share, with a total value of $67,304.05. Following the purchase, the insider now owns 27,152 shares of the company's stock, valued at $1,179,754.40. The trade was a 6.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 121,872 shares of company stock worth $5,043,730 and have sold 147,272 shares worth $6,322,139. 11.43% of the stock is currently owned by company insiders.

Institutional Trading of Atlanta Braves

Several institutional investors and hedge funds have recently bought and sold shares of BATRK. Magnetar Financial LLC lifted its stake in Atlanta Braves by 161.9% during the 4th quarter. Magnetar Financial LLC now owns 13,328 shares of the financial services provider's stock worth $510,000 after acquiring an additional 8,239 shares in the last quarter. Rhumbline Advisers grew its position in Atlanta Braves by 16.8% in the 4th quarter. Rhumbline Advisers now owns 80,240 shares of the financial services provider's stock valued at $3,070,000 after acquiring an additional 11,554 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in Atlanta Braves during the fourth quarter worth about $721,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Atlanta Braves during the fourth quarter worth about $337,000. Finally, Wellington Management Group LLP lifted its position in shares of Atlanta Braves by 3.1% during the fourth quarter. Wellington Management Group LLP now owns 654,762 shares of the financial services provider's stock worth $25,051,000 after purchasing an additional 19,718 shares in the last quarter. 64.88% of the stock is currently owned by hedge funds and other institutional investors.

Atlanta Braves Price Performance

The firm has a market cap of $2.29 billion, a PE ratio of -128.00 and a beta of 0.54. The company's 50 day moving average price is $40.55 and its 200 day moving average price is $39.47.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The financial services provider reported ($0.66) EPS 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 analysts' expectations of $36.87 million. Sell-side analysts expect that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current fiscal year.

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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