Atlanta Braves (NASDAQ:BATRA) Sets New 52-Week High - What's Next?

Key Points

• Atlanta Braves shares reached a new 52-week high of $58.90 and last traded at $58.65, giving the company a market capitalization of approximately $3.68 billion.
• Analyst sentiment remains cautious: one analyst rates the stock Hold and another Sell, resulting in an overall “Reduce” rating. Weiss Ratings also reaffirmed its “sell (D-)” assessment.
• The company reported a quarterly loss of $0.19 per share, missing estimates by $0.48, while revenue of $305.12 million fell short of the $317.09 million consensus forecast.

Atlanta Braves Holdings, Inc. (NASDAQ:BATRA - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $58.90 and last traded at $58.65, with a volume of 4683 shares. The stock had previously closed at $58.09.

Analyst Ratings Changes

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Atlanta Braves in a research report on Friday, July 17th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Reduce".

Atlanta Braves Stock Performance

The firm has a market capitalization of $3.68 billion, a PE ratio of -57.87 and a beta of 0.64. The business has a 50-day simple moving average of $55.68 and a 200-day simple moving average of $53.63. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.49 and a quick ratio of 0.49.

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

Institutional Investors Weigh In On Atlanta Braves

A number of hedge funds have recently made changes to their positions in BATRA. State Street Corp grew its stake in shares of Atlanta Braves by 10.6% during the second quarter. State Street Corp now owns 238,949 shares of the financial services provider's stock worth $13,455,000 after acquiring an additional 22,888 shares during the last quarter. Waverly Advisors LLC purchased a new position in shares of Atlanta Braves in the 2nd quarter valued at approximately $230,000. Nykredit A S acquired a new stake in Atlanta Braves in the 2nd quarter worth approximately $87,000. Corient Private Wealth LP boosted its stake in Atlanta Braves by 68.7% in the 2nd quarter. Corient Private Wealth LP now owns 9,987 shares of the financial services provider's stock worth $562,000 after purchasing an additional 4,067 shares in the last quarter. Finally, Wedbush Securities Inc. purchased a new stake in Atlanta Braves during the 2nd quarter worth approximately $238,000. 12.31% of the stock is currently owned by hedge funds and other institutional investors.

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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