Atlanta Braves (NASDAQ:BATRK) Sets New 12-Month High - Should You Buy?

Key Points

• Shares of Atlanta Braves hit a new 52-week high, trading as high as $47.20 (last $47.39) on volume of 243,588, with a market capitalization of about $2.51 billion.
• Analyst sentiment is mixed but tilted positive — the consensus is a Moderate Buy (one Strong Buy, one Buy, one Hold, one Sell) with an average price target of $60 and Rosenblatt's $75 target among the outliers.
• The company reported a quarterly EPS beat (‑$0.28 vs. ‑$0.66 expected) and $61.3M revenue, while insider John C. Malone purchased 35,000 shares; insiders own 11.43% and institutions own 64.88% of the stock.

Shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Get Free Report) hit a new 52-week high during trading on Friday . The stock traded as high as $47.20 and last traded at $47.3870, with a volume of 243588 shares traded. The stock had previously closed at $45.31.

Wall Street Analyst Weigh In

BATRK has been the subject of several recent analyst reports. Zacks Research raised shares of Atlanta Braves from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 5th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Atlanta Braves in a research report on Friday, March 27th. Wall Street Zen downgraded Atlanta Braves from a "hold" rating to a "sell" rating in a research note on Sunday, April 12th. Finally, Rosenblatt Securities upped their price target on Atlanta Braves from $69.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Atlanta Braves presently has a consensus rating of "Moderate Buy" and an average price target of $60.00.

Atlanta Braves Stock Performance

The business has a 50 day moving average of $43.08 and a two-hundred day moving average of $40.83. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of -122.13 and a beta of 0.53.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The financial services provider reported ($0.28) earnings per share for the quarter, topping analysts' consensus estimates of ($0.66) by $0.38. The firm had revenue of $61.30 million for the quarter, compared to analyst estimates of $54.93 million. On average, equities analysts predict that Atlanta Braves Holdings, Inc. will post -0.89 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder John C. Malone purchased 35,000 shares of the company's stock in a transaction that occurred on Thursday, February 5th. The shares were acquired at an average cost of $44.23 per share, with a total value of $1,548,050.00. Following the purchase, the insider owned 521,862 shares in the company, valued at $23,081,956.26. This represents a 7.19% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 11.43% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Highbridge Capital Management LLC raised its stake in shares of Atlanta Braves by 34.9% in the third quarter. Highbridge Capital Management LLC now owns 393,633 shares of the financial services provider's stock worth $16,371,000 after purchasing an additional 101,765 shares during the last quarter. Capula Management Ltd purchased a new stake in shares of Atlanta Braves in the third quarter worth approximately $977,000. Vanguard Group Inc. raised its stake in shares of 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 during the last quarter. JPMorgan Chase & Co. raised its stake in shares of 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 during the last quarter. Finally, Parthenon LLC raised its stake in shares of Atlanta Braves by 31.3% in the fourth quarter. Parthenon LLC now owns 223,665 shares of the financial services provider's stock worth $8,824,000 after purchasing an additional 53,321 shares during the last quarter. 64.88% of the stock is owned by institutional investors and hedge funds.

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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