Atlanta Braves (NASDAQ:BATRK) Reaches New 12-Month High - Here's What Happened

Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Get Free Report) shares hit a new 52-week high on Friday . The company traded as high as $46.98 and last traded at $46.78, with a volume of 831483 shares trading hands. The stock had previously closed at $46.56.

Analyst Ratings Changes

Several research firms have issued reports on BATRK. Citigroup upgraded shares of Atlanta Braves to a "hold" rating and set a $45.00 price objective for the company in a research note on Friday, June 13th. Wall Street Zen raised Atlanta Braves from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Rosenblatt Securities raised their price target on Atlanta Braves from $52.00 to $69.00 and gave the stock a "buy" rating in a research note on Friday, June 20th.

Atlanta Braves Stock Performance

The company has a market capitalization of $2.37 billion, a PE ratio of -131.92 and a beta of 0.55. The company's 50-day simple moving average is $41.71 and its 200-day simple moving average is $39.76.

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

Insider Buying and Selling

In other news, EVP Deretta C. Rhodes sold 5,000 shares of Atlanta Braves stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $41.20, for a total value of $206,000.00. Following the sale, the executive vice president owned 3,112 shares of the company's stock, valued at $128,214.40. The trade was a 61.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael P. Plant sold 69,000 shares of the stock in a transaction dated 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 transaction, the executive vice president directly owned 205,593 shares of the company's stock, valued at $8,840,499. This represents a 25.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 121,872 shares of company stock worth $5,043,730 and sold 217,372 shares worth $9,451,951.

Hedge Funds Weigh In On Atlanta Braves

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

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.