Atlanta Braves (NASDAQ:BATRK) Hits New 52-Week High Following Analyst Upgrade

Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Get Free Report) hit a new 52-week high 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 changing hands. The stock had previously closed at $43.68.

Several other analysts have also recently issued reports on BATRK. Citigroup raised Atlanta Braves to a "hold" rating and set a $45.00 target price on the stock in a research note on Friday, June 13th. Wall Street Zen upgraded Atlanta Braves from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd.

Insider Activity at Atlanta Braves

In other news, 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 transaction, the executive vice president now directly owns 205,593 shares in the company, valued at approximately $8,840,499. This represents a 25.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Derek Gordon Schiller sold 30,000 shares of the 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 sale, the executive vice president now owns 300,233 shares in the company, valued at approximately $13,660,601.50. This trade represents a 9.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders acquired 121,872 shares of company stock worth $5,043,730 and sold 217,372 shares worth $9,451,951.

Institutional Investors Weigh In On Atlanta Braves

A number of hedge funds and other institutional investors have recently modified their holdings of BATRK. CWM LLC grew its position in shares of Atlanta Braves by 56.4% in the 1st quarter. CWM LLC now owns 824 shares of the financial services provider's stock valued at $33,000 after buying an additional 297 shares during the last quarter. Comerica Bank grew its position in shares of Atlanta Braves by 44.8% in the 1st quarter. Comerica Bank now owns 1,031 shares of the financial services provider's stock valued at $41,000 after buying an additional 319 shares during the last quarter. Federated Hermes Inc. purchased a new position in shares of Atlanta Braves in the 4th quarter valued at $40,000. Summit Securities Group LLC purchased a new position in shares of Atlanta Braves in the 1st quarter valued at $60,000. Finally, Versant Capital Management Inc grew its position in shares of Atlanta Braves by 335.7% in the 1st quarter. Versant Capital Management Inc now owns 1,817 shares of the financial services provider's stock valued at $73,000 after buying an additional 1,400 shares during the last quarter. 64.88% of the stock is currently owned by institutional investors and hedge funds.

Atlanta Braves Stock Performance

The stock has a market capitalization of $2.39 billion, a PE ratio of -132.85 and a beta of 0.55. The stock's 50-day moving average is $40.88 and its 200 day moving average is $39.53.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The financial services provider reported ($0.66) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.94) by $0.28. The business had revenue of $47.21 million for the quarter, compared to analysts' expectations of $36.87 million. Analysts expect that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current 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.