Atlanta Braves (NASDAQ:BATRK) Reaches New 52-Week High – Still a Buy?

Atlanta Braves Holdings, Inc. (NASDAQ:BATRK)’s share price reached a new 52-week high during mid-day trading on Monday. The stock traded as high as $54.86 and last traded at $54.5850, with a volume of 22393 shares changing hands. The stock had previously closed at $54.26.

Analysts Set New Price Targets

BATRK has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Atlanta Braves in a report on Monday, September 21st. Rosenblatt Securities reduced their price objective on shares of Atlanta Braves from $75.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Wall Street Zen downgraded Atlanta Braves from a “hold” rating to a “strong sell” rating in a report on Saturday, August 8th. Finally, Morgan Stanley downgraded Atlanta Braves from an “overweight” rating to an “equal weight” rating and set a $54.00 price objective for the company. in a report on Wednesday, July 15th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $63.50.

Atlanta Braves Price Performance

The stock has a market cap of $2.87 billion, a price-to-earnings ratio of -53.82 and a beta of 0.67. The firm’s fifty day moving average price is $51.21 and its two-hundred day moving average price is $49.33.

Atlanta Braves (NASDAQ:BATRK) last issued its earnings results on Wednesday, August 5th. The financial services provider reported ($0.19) EPS for the quarter, missing the consensus estimate of $0.31 by ($0.50). The firm had revenue of $305.12 million during the quarter, compared to the consensus estimate of $319.00 million. On average, equities research analysts anticipate that Atlanta Braves Holdings, Inc. will post -0.44 earnings per share for the current year.

Institutional Investors Weigh In On Atlanta Braves

Hedge funds have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC bought a new position in shares of Atlanta Braves in the 2nd quarter worth $281,000. Engineers Gate Manager LP acquired a new stake in Atlanta Braves in the 2nd quarter valued at $1,179,000. Squarepoint Ops LLC bought a new stake in Atlanta Braves during the 2nd quarter valued at $529,000. Baird Financial Group Inc. bought a new stake in Atlanta Braves during the 2nd quarter valued at $8,459,000. Finally, Arizona State Retirement System raised its holdings in Atlanta Braves by 2.8% during the second quarter. Arizona State Retirement System now owns 13,123 shares of the financial services provider’s stock worth $681,000 after buying an additional 361 shares during the last quarter. Institutional investors and hedge funds own 64.88% of the company’s stock.

About Atlanta Braves

Atlanta Braves Holdings, Inc owns and operates the Atlanta Braves, a Major League Baseball franchise based in Atlanta, Georgia. The company’s principal business activities include professional baseball operations, ticket sales, premium seating, sponsorships, broadcasting and media rights, concessions, retail merchandise, and other fan-related services.

The company also owns and operates The Battery Atlanta, a mixed-use development adjacent to Truist Park. The Battery Atlanta includes restaurants, retail stores, office space, residential properties, entertainment venues, hotels and event facilities, providing additional revenue opportunities beyond baseball.

The Braves franchise traces its history to 1871 and has previously been based in Boston and Milwaukee before relocating to Atlanta in 1966.