Atlanta Braves (NASDAQ:BATRK) Sets New 12-Month High - Time to Buy?

Key Points

• Atlanta Braves Holdings reached a new 52-week high, trading as high as $54.14 and closing near $53.97, giving the company a market capitalization of about $2.84 billion.
• Analyst sentiment remains mixed, with an overall consensus rating of “Hold” and an average price target of $63.50. Ratings range from “strong sell” to “buy,” including a reduced $73 target from Rosenblatt Securities.
• The company reported a quarterly loss of $0.19 per share, missing expectations by $0.50, while revenue of $305.12 million also fell short of forecasts. Institutional investors own approximately 64.88% of the stock.

Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Get Free Report) hit a new 52-week high during trading on Thursday . The stock traded as high as $54.14 and last traded at $53.97, with a volume of 69085 shares traded. The stock had previously closed at $53.00.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Atlanta Braves from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 8th. Rosenblatt Securities lowered their price objective on shares of Atlanta Braves from $75.00 to $73.00 and set a "buy" rating for the company in a report on Friday, August 7th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Atlanta Braves in a research report on Wednesday, June 24th. Zacks Research cut Atlanta Braves from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. Finally, Morgan Stanley cut Atlanta Braves from an "overweight" rating to an "equal weight" rating and set a $54.00 target price for the company. in a research note on Wednesday, July 15th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $63.50.

Atlanta Braves Stock Performance

The stock has a market capitalization of $2.84 billion, a P/E ratio of -53.29 and a beta of 0.68. The business has a 50-day moving average price of $51.07 and a 200 day moving average price of $47.15.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported ($0.19) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.31 by ($0.50). The business had revenue of $305.12 million during the quarter, compared to analyst estimates of $319.00 million. As a group, research analysts forecast that Atlanta Braves Holdings, Inc. will post -0.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Atlanta Braves

A number of hedge funds have recently bought and sold shares of BATRK. Lido Advisors LLC boosted its holdings in Atlanta Braves by 5.1% in the 3rd quarter. Lido Advisors LLC now owns 5,512 shares of the financial services provider's stock worth $229,000 after buying an additional 269 shares during the period. California State Teachers Retirement System raised its holdings in Atlanta Braves by 0.7% during the second quarter. California State Teachers Retirement System now owns 39,984 shares of the financial services provider's stock valued at $1,870,000 after acquiring an additional 285 shares during the period. Rockefeller Capital Management L.P. raised its holdings in Atlanta Braves by 4.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 6,745 shares of the financial services provider's stock valued at $266,000 after acquiring an additional 310 shares during the period. Comerica Bank lifted its position in shares of Atlanta Braves by 44.8% in the first quarter. Comerica Bank now owns 1,031 shares of the financial services provider's stock valued at $41,000 after acquiring an additional 319 shares in the last quarter. Finally, Diversify Advisory Services LLC lifted its position in shares of Atlanta Braves by 2.0% in the fourth quarter. Diversify Advisory Services LLC now owns 16,743 shares of the financial services provider's stock valued at $671,000 after acquiring an additional 323 shares in the last quarter. 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.

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