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

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

Analyst Ratings Changes

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

Atlanta Braves Stock Up 3.4%

The firm has a market capitalization of $2.69 billion, a P/E ratio of -131.00 and a beta of 0.73. The company has a fifty day simple moving average of $44.79 and a 200 day simple moving average of $41.55.

Atlanta Braves (NASDAQ:BATRK) last issued its quarterly earnings results on Wednesday, February 25th. The financial services provider reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.66) by $0.38. The company had revenue of $61.30 million for the quarter, compared to the consensus estimate of $54.93 million. As a group, equities analysts expect that Atlanta Braves Holdings, Inc. will post 0.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Atlanta Braves

A number of institutional investors have recently made changes to their positions in the company. Global Trust Asset Management LLC bought a new stake in shares of Atlanta Braves during the first quarter valued at approximately $26,000. Quent Capital LLC bought a new position in Atlanta Braves in the 3rd quarter valued at approximately $28,000. First Horizon Corp bought a new position in Atlanta Braves in the 3rd quarter valued at approximately $30,000. Farther Finance Advisors LLC boosted its stake in Atlanta Braves by 701.1% during the 3rd 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 during the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in Atlanta Braves by 218.3% during the 3rd 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 during the last quarter. Hedge funds and other institutional investors 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.