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

Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) shares reached a new 52-week high on Thursday . The stock traded as high as $52.05 and last traded at $51.09, with a volume of 939601 shares trading hands. The stock had previously closed at $49.41.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on BATRK shares. Wall Street Zen lowered Atlanta Braves from a “hold” rating to a “sell” rating in a research report on Sunday, April 12th. Rosenblatt Securities boosted their target price on Atlanta Braves from $69.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Atlanta Braves in a research report on Friday, March 27th. Finally, Zacks Research lowered Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $60.00.

Atlanta Braves Stock Performance

The stock has a 50-day moving average of $44.95 and a 200-day moving average of $41.64. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of -129.87 and a beta of 0.73.

Atlanta Braves (NASDAQ:BATRK) last announced its earnings results on Wednesday, February 25th. The financial services provider reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.38. The firm had revenue of $61.30 million during the quarter, compared to analyst estimates of $54.93 million. Sell-side analysts predict that Atlanta Braves Holdings, Inc. will post 0.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Atlanta Braves

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Global Trust Asset Management LLC bought a new position in Atlanta Braves in the first quarter valued at approximately $26,000. Quent Capital LLC bought a new position in Atlanta Braves in the third quarter valued at approximately $28,000. First Horizon Corp bought a new position in Atlanta Braves in the third quarter valued at approximately $30,000. Farther Finance Advisors LLC grew its stake in Atlanta Braves by 701.1% in the third quarter. Farther Finance Advisors LLC now owns 761 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 666 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its stake in Atlanta Braves by 218.3% in the third quarter. Jones Financial Companies Lllp now owns 799 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 548 shares in the last quarter. Institutional investors and hedge funds own 64.88% of the company’s stock.

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.