Atlanta Braves (NASDAQ:BATRK) Reaches New 52-Week High – Here’s Why

Atlanta Braves Holdings, Inc. (NASDAQ:BATRK)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $52.11 and last traded at $51.7150, with a volume of 87662 shares. The stock had previously closed at $51.54.

Wall Street Analyst Weigh In

BATRK has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Atlanta Braves in a report on Friday, March 27th. Rosenblatt Securities upped their price objective on Atlanta Braves from $69.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Zacks Research downgraded Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Wall Street Zen raised Atlanta Braves from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $75.00.

Atlanta Braves Stock Up 0.3%

The company has a market cap of $2.73 billion, a PE ratio of -143.39 and a beta of 0.71. The company’s fifty day moving average is $48.89 and its 200-day moving average is $43.78.

Atlanta Braves (NASDAQ:BATRK) last released its quarterly earnings results on Monday, May 11th. The financial services provider reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.83) by $0.20. The firm had revenue of $72.01 million for the quarter, compared to the consensus estimate of $64.60 million. Equities research analysts expect that Atlanta Braves Holdings, Inc. will post 0.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Global Trust Asset Management LLC bought a new stake in shares of Atlanta Braves during the 1st quarter valued at about $26,000. EverSource Wealth Advisors LLC lifted its stake in shares of Atlanta Braves by 956.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 697 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 631 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of Atlanta Braves by 218.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 799 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 548 shares during the period. Advisory Services Network LLC purchased a new position in shares of Atlanta Braves in the third quarter worth approximately $34,000. Finally, Fifth Third Bancorp bought a new stake in Atlanta Braves during the first quarter valued at approximately $35,000. 64.88% of the stock is owned by hedge funds and other institutional investors.

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.