Atlanta Braves (NASDAQ:BATRA) Reaches New 12-Month High – Here’s What Happened

Atlanta Braves Holdings, Inc. (NASDAQ:BATRA)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $57.47 and last traded at $57.7590, with a volume of 3232 shares traded. The stock had previously closed at $56.31.

Analysts Set New Price Targets

A number of brokerages recently commented on BATRA. Zacks Research cut shares of Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Atlanta Braves in a research report on Monday, April 20th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Atlanta Braves has an average rating of “Reduce”.

Atlanta Braves Trading Up 1.1%

The business has a fifty day simple moving average of $54.39 and a 200 day simple moving average of $48.91. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of -160.03 and a beta of 0.63. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.46 and a current ratio of 0.46.

Atlanta Braves (NASDAQ:BATRA) last released its quarterly earnings results on Monday, May 11th. The financial services provider reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.09. Atlanta Braves had a positive return on equity of 0.25% and a negative net margin of 2.97%.The company had revenue of $72.01 million during the quarter, compared to analysts’ expectations of $68.69 million. As a group, equities analysts anticipate that Atlanta Braves Holdings, Inc. will post 0.22 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BATRA. Gamco Investors INC. ET AL boosted its stake in shares of Atlanta Braves by 3.6% during the 4th quarter. Gamco Investors INC. ET AL now owns 2,230,362 shares of the financial services provider’s stock worth $94,768,000 after purchasing an additional 76,853 shares during the last quarter. Gabelli Funds LLC boosted its position in Atlanta Braves by 1.3% during the first quarter. Gabelli Funds LLC now owns 917,332 shares of the financial services provider’s stock worth $43,252,000 after acquiring an additional 11,932 shares during the last quarter. Vanguard Group Inc. boosted its position in Atlanta Braves by 14.3% during the third quarter. Vanguard Group Inc. now owns 685,557 shares of the financial services provider’s stock worth $31,172,000 after acquiring an additional 85,853 shares during the last quarter. Renaissance Technologies LLC grew its stake 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 acquiring an additional 89,300 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Atlanta Braves by 490,606.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 245,353 shares of the financial services provider’s stock worth $10,425,000 after purchasing an additional 245,303 shares during the period. Institutional investors and hedge funds own 12.31% of the company’s stock.

Atlanta Braves Company Profile

The Atlanta Braves (NASDAQ: BATRA) are a professional baseball club that competes in Major League Baseball’s National League East division. Founded in 1871 as the Boston Red Stockings, the franchise relocated to Milwaukee in 1953 before settling in Atlanta in 1966. As one of MLB’s oldest and most storied organizations, the Braves are responsible for fielding a Major League team, overseeing player development through a network of minor league affiliates, and managing baseball operations under the leadership of President of Baseball Operations Alex Anthopoulos.

Beyond on?field performance, the Braves operate a diversified sports and entertainment business.