Atlanta Braves (NASDAQ:BATRK) Hits New 12-Month High – Here’s What Happened

Shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) reached a new 52-week high during trading on Wednesday . The stock traded as high as $52.75 and last traded at $52.3050, with a volume of 27030 shares trading hands. The stock had previously closed at $51.61.

Analysts Set New Price Targets

Several brokerages have weighed in on BATRK. Weiss Ratings reiterated a “sell (d-)” rating on shares of Atlanta Braves in a research note on Friday, March 27th. Rosenblatt Securities raised their target price on shares of Atlanta Braves from $69.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Zacks Research downgraded shares of Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Wall Street Zen upgraded Atlanta Braves from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. One research 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 data from MarketBeat, Atlanta Braves currently has a consensus rating of “Hold” and an average price target of $75.00.

Atlanta Braves Trading Up 0.8%

The company’s 50-day moving average is $49.57 and its 200-day moving average is $44.19. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of -144.51 and a beta of 0.71.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Global Trust Asset Management LLC acquired a new stake in shares of Atlanta Braves in the 1st quarter valued at approximately $26,000. EverSource Wealth Advisors LLC grew its holdings in shares of Atlanta Braves by 956.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 697 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 631 shares during the last quarter. Advisory Services Network LLC acquired a new position in Atlanta Braves during the 3rd quarter worth approximately $34,000. Fifth Third Bancorp bought a new position in Atlanta Braves in the 1st quarter valued at approximately $35,000. Finally, Comerica Bank lifted its stake in Atlanta Braves by 44.8% in the 1st quarter. Comerica Bank now owns 1,031 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 319 shares during 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.