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

Key Points

• Shares hit a new 52-week high, trading as high as $49.33 and last at $49.1650 on volume of 33,938 shares.
• Analysts are mixed but the consensus is a “Moderate Buy” with a $60 average target; Rosenblatt raised its price target to $75 while ratings range from strong-buy to sell.
• The company beat quarterly estimates (EPS -$0.28 vs. -$0.66 expected; revenue $61.3M vs. $54.93M expected), and major shareholder John C. Malone purchased 35,000 shares, bringing his holding to 521,862 shares amid insiders owning 11.43% of the stock.

Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Get Free Report)'s share price reached a new 52-week high on Thursday . The company traded as high as $49.33 and last traded at $49.1650, with a volume of 33938 shares traded. The stock had previously closed at $48.77.

Analyst Upgrades and Downgrades

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

Atlanta Braves Stock Performance

The company has a 50 day simple moving average of $43.73 and a two-hundred day simple moving average of $41.03. The firm has a market cap of $2.54 billion, a PE ratio of -123.64 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, beating the consensus estimate of ($0.66) by $0.38. The firm had revenue of $61.30 million for the quarter, compared to analysts' expectations of $54.93 million. As a group, research analysts predict that Atlanta Braves Holdings, Inc. will post 0.09 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder John C. Malone bought 35,000 shares of the stock in a transaction dated Thursday, February 5th. The shares were purchased at an average price of $44.23 per share, for a total transaction of $1,548,050.00. Following the completion of the purchase, the insider directly owned 521,862 shares of the company's stock, valued at $23,081,956.26. This represents a 7.19% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 11.43% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Atlanta Braves

Several hedge funds have recently bought and sold shares of the stock. Pictet Asset Management Holding SA boosted its position in Atlanta Braves by 19.9% in the 1st quarter. Pictet Asset Management Holding SA now owns 7,555 shares of the financial services provider's stock worth $323,000 after purchasing an additional 1,255 shares in the last quarter. Poehling Capital Management INC. purchased a new stake in Atlanta Braves in the 1st quarter worth approximately $996,000. OP Asset Management Ltd purchased a new stake in Atlanta Braves in the 1st quarter worth approximately $2,324,000. Rockefeller Capital Management L.P. boosted its position in Atlanta Braves by 4.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 6,745 shares of the financial services provider's stock worth $266,000 after purchasing an additional 310 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in Atlanta Braves in the 4th quarter worth approximately $287,000. Hedge funds and other institutional investors own 64.88% of the company's stock.

About Atlanta Braves

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.