Atlanta Braves (NASDAQ:BATRK) Reaches New 52-Week High - Should You Buy?

Key Points

• Shares hit a new 52-week high — BATRK traded as high as $50.42 (last ~$50.09) on Friday with about 197,600 shares changing hands and a market cap near $2.63 billion.
• Analyst views are mixed — Rosenblatt raised its target to $75 and gave a "buy," but other firms have downgraded the stock, leaving a MarketBeat consensus rating of "Hold" with an average target of $60.
• Fundamentals and insider activity: The company beat quarterly EPS (‑$0.28 vs. ‑$0.66 expected) and revenue estimates, yet shows a negative P/E (~‑128); major shareholder John C. Malone bought 35,000 shares, insiders own 11.43% and institutions about 64.9%.

Shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Get Free Report) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $50.42 and last traded at $50.0870, with a volume of 197614 shares. The stock had previously closed at $49.41.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Rosenblatt Securities lifted their target price on Atlanta Braves from $69.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, April 2nd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Atlanta Braves in a research report on Friday, March 27th. Zacks Research downgraded Atlanta Braves from a "strong-buy" rating to a "hold" rating in a research report on Monday. Finally, Wall Street Zen downgraded Atlanta Braves from a "hold" rating to a "sell" rating in a research report on Sunday, April 12th. One equities 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. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $60.00.

Atlanta Braves Price Performance

The company has a 50-day moving average price of $44.50 and a 200 day moving average price of $41.39. The firm has a market capitalization of $2.63 billion, a PE ratio of -128.38 and a beta of 0.53.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The financial services provider reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.66) by $0.38. The business had revenue of $61.30 million during the quarter, compared to analysts' expectations of $54.93 million. As a group, research analysts anticipate that Atlanta Braves Holdings, Inc. will post 0.09 earnings per share for the current year.

Insider Activity at Atlanta Braves

In other Atlanta Braves news, major shareholder John C. Malone acquired 35,000 shares of the stock in a transaction dated Thursday, February 5th. The shares were acquired at an average cost of $44.23 per share, for a total transaction of $1,548,050.00. Following the completion of the transaction, the insider directly owned 521,862 shares of the company's stock, valued at approximately $23,081,956.26. The trade was a 7.19% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 11.43% of the stock is owned by insiders.

Hedge Funds Weigh In On Atlanta Braves

Several large investors have recently made changes to their positions in BATRK. Troluce Capital Advisors LLC purchased a new position in shares of Atlanta Braves in the fourth quarter valued at about $21,043,000. Hawk Ridge Capital Management LP increased its holdings in shares of Atlanta Braves by 16.5% in the fourth quarter. Hawk Ridge Capital Management LP now owns 2,661,429 shares of the financial services provider's stock worth $104,993,000 after purchasing an additional 377,307 shares during the last quarter. Qube Research & Technologies Ltd increased its holdings in shares of Atlanta Braves by 504.1% in the third quarter. Qube Research & Technologies Ltd now owns 436,158 shares of the financial services provider's stock worth $18,140,000 after purchasing an additional 363,953 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Atlanta Braves by 12.8% in the fourth quarter. Vanguard Group Inc. now owns 2,789,084 shares of the financial services provider's stock worth $110,029,000 after purchasing an additional 317,065 shares during the last quarter. Finally, Broad Bay Capital Management LP increased its holdings in shares of Atlanta Braves by 11.9% in the fourth quarter. Broad Bay Capital Management LP now owns 2,202,745 shares of the financial services provider's stock worth $86,898,000 after purchasing an additional 233,771 shares during the last quarter. 64.88% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.