Atlanta Braves (NASDAQ:BATRK) Hits New 52-Week High - Here's What Happened

Key Points

• Atlanta Braves (BATRK) hit a new 52-week high — shares traded as high as $52.05 (last $51.09) on Thursday, rising about 3.4% on volume of roughly 939,601 shares.
• Analyst views are mixed — the stock carries an average MarketBeat rating of "Hold" with a $60 average target while Rosenblatt raised its target to $75 (Buy) and several firms have moved to Hold or Sell.
• Quarterly results beat estimates — the company reported ($0.28) EPS vs. ($0.66) expected and $61.3M in revenue vs. $54.9M estimated; BATRK is a REIT owning assets including Truist Park and has a market cap of about $2.69 billion.

Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $52.05 and last traded at $51.09, with a volume of 939601 shares. The stock had previously closed at $49.41.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Zacks Research lowered shares of Atlanta Braves from a "strong-buy" rating to a "hold" rating in a report on Monday, April 27th. Weiss Ratings restated a "sell (d-)" rating on shares of Atlanta Braves in a research report on Friday, March 27th. Wall Street Zen downgraded shares of Atlanta Braves from a "hold" rating to a "sell" rating in a research note on Sunday, April 12th. Finally, Rosenblatt Securities increased their target price on shares of Atlanta Braves from $69.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, April 2nd. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $60.00.

Atlanta Braves Stock Up 3.4%

The business has a fifty day moving average of $44.79 and a 200 day moving average of $41.55. The company has a market cap of $2.69 billion, a P/E ratio of -131.00 and a beta of 0.73.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The financial services provider reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.66) by $0.38. The company had revenue of $61.30 million during the quarter, compared to the consensus estimate of $54.93 million. On average, sell-side analysts anticipate that Atlanta Braves Holdings, Inc. will post 0.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Atlanta Braves

Hedge funds and other institutional investors have recently modified their holdings of the stock. Highbridge Capital Management LLC lifted its stake in shares of Atlanta Braves by 34.9% in the 3rd quarter. Highbridge Capital Management LLC now owns 393,633 shares of the financial services provider's stock valued at $16,371,000 after purchasing an additional 101,765 shares during the period. Capula Management Ltd purchased a new stake in Atlanta Braves in the third quarter worth $977,000. Vanguard Group Inc. raised its holdings in Atlanta Braves by 1.0% in the third quarter. Vanguard Group Inc. now owns 2,472,019 shares of the financial services provider's stock worth $102,811,000 after purchasing an additional 23,694 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Atlanta Braves by 46.4% in the third quarter. JPMorgan Chase & Co. now owns 204,929 shares of the financial services provider's stock worth $8,523,000 after purchasing an additional 64,968 shares in the last quarter. Finally, Parthenon LLC lifted its position in Atlanta Braves by 31.3% during the fourth quarter. Parthenon LLC now owns 223,665 shares of the financial services provider's stock valued at $8,824,000 after buying an additional 53,321 shares during the period. Hedge funds and other institutional investors own 64.88% of the company's stock.

Atlanta Braves Company Profile

The Atlanta Braves Real Estate Ownership Trust NASDAQ: BATRK is a publicly traded real estate investment trust established in 2021 by Liberty Braves Group. The trust's primary purpose is to own and manage a portfolio of sports and entertainment properties related to the Atlanta Braves baseball franchise. BATRK generates stable rental income by leasing its assets to the Braves Baseball Club, LLC, under long-term lease agreements designed to align property performance with franchise needs.

The trust's portfolio is anchored by Truist Park, the 41,084-seat baseball stadium that has served as the Braves' home since 2017.

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