Atlanta Braves (NASDAQ:BATRK) Reaches New 1-Year High - Should You Buy?

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

Wall Street Analyst Weigh In

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

Atlanta Braves Stock Performance

The company's 50-day moving average price is $42.94 and its 200 day moving average price is $40.22. The stock has a market capitalization of $2.39 billion, a P/E ratio of -133.14 and a beta of 0.68.

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

Insider Buying and Selling at Atlanta Braves

In related news, EVP Deretta C. Rhodes sold 5,000 shares of the business'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 value of $206,000.00. Following the completion of the sale, the executive vice president owned 3,112 shares in the company, valued at approximately $128,214.40. The trade was a 61.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Mario J. Gabelli purchased 1,549 shares of the stock in a transaction dated Wednesday, May 28th. The stock was acquired at an average cost of $43.45 per share, with a total value of $67,304.05. Following the transaction, the insider directly owned 27,152 shares in the company, valued at approximately $1,179,754.40. This trade represents a 6.05% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders bought 39,162 shares of company stock valued at $1,644,899 and sold 217,372 shares valued at $9,451,951. 11.43% of the stock is owned by insiders.

Institutional Investors Weigh In On Atlanta Braves

A number of hedge funds and other institutional investors have recently bought and sold shares of BATRK. Magnetar Financial LLC increased its stake in shares of Atlanta Braves by 161.9% in the fourth 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 during the period. BNP Paribas Financial Markets purchased a new position in Atlanta Braves during the fourth quarter valued at $721,000. GAMMA Investing LLC lifted its holdings in Atlanta Braves by 9,017.3% during the first quarter. GAMMA Investing LLC now owns 9,482 shares of the financial services provider's stock valued at $3,790,000 after purchasing an additional 9,378 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Atlanta Braves during the fourth quarter valued at $337,000. Finally, Wellington Management Group LLP lifted its stake in shares of Atlanta Braves by 3.1% in the fourth quarter. Wellington Management Group LLP now owns 654,762 shares of the financial services provider's stock worth $25,051,000 after buying an additional 19,718 shares in the last quarter. Hedge funds and other institutional investors own 64.88% of the company's stock.

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.