Atlanta Braves (NASDAQ:BATRK) Sets New 12-Month High - Still a Buy?

Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $47.18 and last traded at $46.60, with a volume of 106345 shares. The stock had previously closed at $46.37.

Analysts Set New Price Targets

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

Atlanta Braves Price Performance

The business's 50-day moving average price is $42.94 and its two-hundred day moving average price is $40.25. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of -133.71 and a beta of 0.68.

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

Insiders Place Their Bets

In other Atlanta Braves news, EVP Deretta C. Rhodes sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $41.20, for a total transaction of $206,000.00. Following the sale, the executive vice president owned 3,112 shares in the company, valued at $128,214.40. This represents a 61.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Derek Gordon Schiller sold 72,505 shares of Atlanta Braves stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $43.00, for a total value of $3,117,715.00. Following the completion of the transaction, the executive vice president owned 300,233 shares of the company's stock, valued at approximately $12,910,019. The trade was a 19.45% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 35,553 shares of company stock valued at $1,493,357 and sold 217,372 shares valued at $9,451,951.

Hedge Funds Weigh In On Atlanta Braves

Hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE lifted its position in shares of Atlanta Braves by 17.7% in the 4th quarter. US Bancorp DE now owns 2,862 shares of the financial services provider's stock worth $110,000 after buying an additional 430 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Atlanta Braves by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 433,466 shares of the financial services provider's stock worth $16,584,000 after acquiring an additional 4,072 shares during the period. Proficio Capital Partners LLC bought a new position in Atlanta Braves in the fourth quarter worth about $821,000. Raymond James Financial Inc. acquired a new position in Atlanta Braves in the fourth quarter valued at approximately $3,324,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Atlanta Braves by 25.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,265 shares of the financial services provider's stock valued at $87,000 after purchasing an additional 463 shares during the last quarter. Institutional investors and hedge funds own 64.88% of the company's stock.

Atlanta Braves Company Profile

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.