Atlanta Braves (NASDAQ:BATRK) Sets New 1-Year High – Still a Buy?

Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) shares reached a new 52-week high during trading on Friday . The company traded as high as $50.42 and last traded at $50.0870, with a volume of 197614 shares changing hands. The stock had previously closed at $49.41.

Analyst Ratings Changes

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

Atlanta Braves Price Performance

The business has a 50 day simple moving average of $44.50 and a 200 day simple moving average of $41.40. The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of -128.38 and a beta of 0.73.

Atlanta Braves (NASDAQ:BATRK) last released its quarterly earnings results on Wednesday, February 25th. The financial services provider reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.38. The firm had revenue of $61.30 million for the quarter, compared to analyst estimates of $54.93 million. On average, equities research analysts predict that Atlanta Braves Holdings, Inc. will post 0.09 EPS for the current year.

Insider Buying and Selling at Atlanta Braves

In related news, major shareholder John C. Malone acquired 35,000 shares of the business’s stock in a transaction dated Thursday, February 5th. The shares were acquired at an average price of $44.23 per share, with a total value of $1,548,050.00. Following the completion of the transaction, the insider owned 521,862 shares of the company’s stock, valued at $23,081,956.26. The trade was a 7.19% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 11.43% of the company’s stock.

Hedge Funds Weigh In On Atlanta Braves

Several large investors have recently bought and sold shares of BATRK. Troluce Capital Advisors LLC purchased a new position in Atlanta Braves in the fourth quarter valued at $21,043,000. Hawk Ridge Capital Management LP increased its holdings in Atlanta Braves by 16.5% in the fourth quarter. Hawk Ridge Capital Management LP now owns 2,661,429 shares of the financial services provider’s stock valued at $104,993,000 after buying an additional 377,307 shares during the last quarter. Qube Research & Technologies Ltd increased its holdings in Atlanta Braves by 504.1% in the third quarter. Qube Research & Technologies Ltd now owns 436,158 shares of the financial services provider’s stock valued at $18,140,000 after buying an additional 363,953 shares during the last quarter. Vanguard Group Inc. grew its holdings 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 during the last quarter. Finally, Broad Bay Capital Management LP grew its holdings 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 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.