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

Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $49.33 and last traded at $49.1650, with a volume of 33938 shares changing hands. The stock had previously closed at $48.77.

Wall Street Analysts Forecast Growth

BATRK has been the topic of several research analyst reports. Zacks Research raised shares of Atlanta Braves from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 5th. Wall Street Zen cut shares of Atlanta Braves from a “hold” rating to a “sell” rating in a research note on Sunday, April 12th. Rosenblatt Securities increased their price target on shares of Atlanta Braves from $69.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Atlanta Braves in a research note on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Atlanta Braves presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.00.

Atlanta Braves Price Performance

The stock has a market capitalization of $2.62 billion, a P/E ratio of -127.48 and a beta of 0.53. The business’s 50 day simple moving average is $44.00 and its 200-day simple moving average is $41.14.

Atlanta Braves (NASDAQ:BATRK) last announced its quarterly earnings data 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 business had revenue of $61.30 million during the quarter, compared to the consensus estimate of $54.93 million. Research analysts anticipate that Atlanta Braves Holdings, Inc. will post 0.09 earnings per share for the current fiscal year.

Insider Transactions at Atlanta Braves

In other Atlanta Braves news, major shareholder John C. Malone acquired 35,000 shares of Atlanta Braves stock in a transaction on Thursday, February 5th. The shares were purchased at an average cost of $44.23 per share, with a total value of $1,548,050.00. Following the completion of the purchase, the insider owned 521,862 shares in the company, valued at $23,081,956.26. The trade was a 7.19% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 11.43% of the company’s stock.

Hedge Funds Weigh In On Atlanta Braves

A number of hedge funds and other institutional investors have recently made changes to their positions in BATRK. Troluce Capital Advisors LLC bought a new position in shares of Atlanta Braves during the fourth quarter worth $21,043,000. Hawk Ridge Capital Management LP boosted its position in shares of Atlanta Braves by 16.5% during the fourth quarter. Hawk Ridge Capital Management LP now owns 2,661,429 shares of the financial services provider’s stock worth $104,993,000 after purchasing an additional 377,307 shares in the last quarter. Qube Research & Technologies Ltd boosted its position in shares of Atlanta Braves by 504.1% during the third quarter. Qube Research & Technologies Ltd now owns 436,158 shares of the financial services provider’s stock worth $18,140,000 after purchasing an additional 363,953 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Atlanta Braves by 12.8% during the fourth quarter. Vanguard Group Inc. now owns 2,789,084 shares of the financial services provider’s stock worth $110,029,000 after purchasing an additional 317,065 shares in the last quarter. Finally, Broad Bay Capital Management LP boosted its position in shares of Atlanta Braves by 11.9% during the fourth quarter. Broad Bay Capital Management LP now owns 2,202,745 shares of the financial services provider’s stock worth $86,898,000 after purchasing an additional 233,771 shares in the last quarter. 64.88% of the stock is owned by institutional investors.

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.