Atlanta Braves (NASDAQ:BATRK) Sets New 52-Week High – Should You Buy?

Shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $52.83 and last traded at $51.38, with a volume of 1105390 shares. The stock had previously closed at $51.96.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Rosenblatt Securities boosted their price target on shares of Atlanta Braves from $69.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Wall Street Zen upgraded Atlanta Braves from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Zacks Research cut Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Atlanta Braves in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Atlanta Braves currently has a consensus rating of “Hold” and a consensus price target of $75.00.

Atlanta Braves Stock Performance

The company has a 50 day moving average of $50.09 and a 200 day moving average of $44.55. The firm has a market cap of $2.72 billion, a P/E ratio of -142.72 and a beta of 0.71.

Atlanta Braves (NASDAQ:BATRK) last issued its quarterly earnings data on Monday, May 11th. The financial services provider reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.83) by $0.20. The business had revenue of $72.01 million for the quarter, compared to the consensus estimate of $64.60 million. As a group, analysts expect that Atlanta Braves Holdings, Inc. will post 0.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Troluce Capital Advisors LLC lifted its stake in shares of Atlanta Braves by 274.9% in the 1st quarter. Troluce Capital Advisors LLC now owns 2,000,000 shares of the financial services provider’s stock valued at $85,400,000 after purchasing an additional 1,466,584 shares during the last quarter. Hawk Ridge Capital Management LP boosted 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 worth $104,993,000 after purchasing an additional 377,307 shares in the last quarter. Qube Research & Technologies Ltd increased its position in Atlanta Braves by 504.1% during the third quarter. Qube Research & Technologies Ltd now owns 436,158 shares of the financial services provider’s stock worth $18,140,000 after buying an additional 363,953 shares during the last quarter. Vanguard Group Inc. increased its position in 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 buying an additional 317,065 shares during the last quarter. Finally, Broad Bay Capital Management LP increased its position in 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 buying an additional 233,771 shares during the last quarter. Institutional investors own 64.88% of the company’s stock.

About Atlanta Braves

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.