Atlanta Braves (NASDAQ:BATRA) Hits New 12-Month High - Time to Buy?

Key Points

• Atlanta Braves Holdings shares reached a new 52-week high of $60.48 before trading around $59.41, with the stock up about 10% above its 200-day moving average.
• Despite the price strength, the company’s latest quarter fell short of expectations: it reported a $0.19 loss per share versus an expected $0.29 profit and revenue of $305.12 million versus estimates of $317.09 million.
• Analyst sentiment remains cautious, with ratings of Hold and Sell producing a consensus “Reduce” rating; institutional investors own 12.31% of the stock.

Atlanta Braves Holdings, Inc. (NASDAQ:BATRA - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday. The company traded as high as $60.48 and last traded at $59.41, with a volume of 43437 shares changing hands. The stock had previously closed at $59.61.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Atlanta Braves in a research note on Friday, July 17th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce".

Atlanta Braves Stock Down 0.3%

The company has a 50-day moving average of $55.90 and a 200-day moving average of $53.94. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of -58.82 and a beta of 0.64.

Atlanta Braves (NASDAQ:BATRA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The financial services provider reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.48). Atlanta Braves had a negative return on equity of 7.45% and a negative net margin of 8.56%.The business had revenue of $305.12 million during the quarter, compared to analyst estimates of $317.09 million. On average, equities analysts predict that Atlanta Braves Holdings, Inc. will post -0.41 earnings per share for the current fiscal year.

Institutional Trading of Atlanta Braves

Several large investors have recently bought and sold shares of BATRA. Grove Bank & Trust purchased a new position in shares of Atlanta Braves in the second quarter worth $28,000. Nykredit A S acquired a new stake in shares of Atlanta Braves during the second quarter worth $87,000. Fifth Third Bancorp purchased a new stake in shares of Atlanta Braves during the first quarter valued at $154,000. Waverly Advisors LLC purchased a new stake in shares of Atlanta Braves during the second quarter valued at $230,000. Finally, Wedbush Securities Inc. acquired a new position in shares of Atlanta Braves in the 2nd quarter valued at $238,000. Hedge funds and other institutional investors own 12.31% of the company's stock.

About Atlanta Braves

Atlanta Braves Holdings, Inc owns and operates the Atlanta Braves, a Major League Baseball franchise based in Atlanta, Georgia. The Braves compete in MLB's National League East and generate revenue through ticket sales, premium seating, sponsorships, broadcasting and digital rights, licensing, merchandise, concessions, and other team-related activities.

The company also owns and operates Truist Park, the Braves' home stadium, and The Battery Atlanta, a mixed-use development surrounding the ballpark.

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