Atlanta Braves (NASDAQ:BATRA) Sets New 12-Month High – Here’s Why

Atlanta Braves Holdings, Inc. (NASDAQ:BATRA) shares hit a new 52-week high on Wednesday. The company traded as high as $60.48 and last traded at $59.41, with a volume of 43437 shares trading hands. The stock had previously closed at $59.61.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Atlanta Braves in a research report on Friday, July 17th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce”.

Atlanta Braves Stock Down 0.3%

The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.06. The stock has a 50 day simple moving average of $56.02 and a 200 day simple moving average of $54.09. The firm has a market capitalization of $3.64 billion, a PE ratio of -57.27 and a beta of 0.62.

Atlanta Braves (NASDAQ:BATRA) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.48). Atlanta Braves had a negative net margin of 8.56% and a negative return on equity of 7.45%. The company had revenue of $305.12 million during the quarter, compared to the consensus estimate of $317.09 million. As a group, sell-side analysts forecast that Atlanta Braves Holdings, Inc. will post -0.41 earnings per share for the current year.

Insider Buying and Selling at Atlanta Braves

In related news, EVP Gregory Heller sold 80,263 shares of the company’s stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $53.89, for a total transaction of $4,325,373.07. Following the completion of the sale, the executive vice president directly owned 22,741 shares in the company, valued at $1,225,512.49. This represents a 77.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Derek Gordon Schiller sold 175,395 shares of the stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $53.20, for a total transaction of $9,331,014.00. Following the sale, the executive vice president directly owned 316,908 shares of the company’s stock, valued at $16,859,505.60. The trade was a 35.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Atlanta Braves

Several hedge funds and other institutional investors have recently modified their holdings of BATRA. Gabelli Funds LLC increased its holdings in Atlanta Braves by 1.3% during the 1st quarter. Gabelli Funds LLC now owns 917,332 shares of the financial services provider’s stock valued at $43,252,000 after purchasing an additional 11,932 shares during the period. Renaissance Technologies LLC lifted its holdings in Atlanta Braves by 36.4% in the 1st quarter. Renaissance Technologies LLC now owns 334,700 shares of the financial services provider’s stock worth $15,781,000 after buying an additional 89,300 shares during the period. State Street Corp grew its position in shares of Atlanta Braves by 10.6% in the 2nd quarter. State Street Corp now owns 238,949 shares of the financial services provider’s stock worth $13,455,000 after buying an additional 22,888 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Atlanta Braves by 5.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 221,916 shares of the financial services provider’s stock worth $10,463,000 after buying an additional 11,392 shares during the last quarter. Finally, Hudson Value Partners LLC increased its stake in shares of Atlanta Braves by 7.2% during the second quarter. Hudson Value Partners LLC now owns 96,702 shares of the financial services provider’s stock valued at $5,445,000 after buying an additional 6,525 shares during the period. 12.31% of the stock is owned by institutional investors.

Atlanta Braves Company Profile

Atlanta Braves Holdings, Inc owns and operates the Atlanta Braves, a Major League Baseball franchise based in Atlanta, Georgia. The organization generates revenue through ticket sales, premium seating, sponsorships, media and broadcasting rights, concessions, licensing, retail merchandise, and other game-day and fan-related activities.

The Braves play their home games at Truist Park, which opened in 2017 in Cobb County, Georgia. The company also owns and operates The Battery Atlanta, a mixed-use development adjacent to the ballpark that includes restaurants, retail stores, office space, residences, entertainment venues, and event facilities.