Atlanta Braves (NASDAQ:BATRK) Hits New 12-Month High – What’s Next?

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

Analyst Ratings Changes

BATRK has been the subject of several recent analyst reports. Wall Street Zen raised shares of Atlanta Braves from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Zacks Research downgraded shares of Atlanta Braves from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Atlanta Braves in a research report on Wednesday, June 24th. Finally, Rosenblatt Securities upped 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. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $75.00.

Atlanta Braves Stock Down 0.5%

The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of -143.47 and a beta of 0.68. The business has a fifty day simple moving average of $50.23 and a two-hundred day simple moving average of $44.73.

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

Hedge Funds Weigh In On Atlanta Braves

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Global Trust Asset Management LLC acquired a new position in shares of Atlanta Braves in the 1st quarter valued at approximately $26,000. EverSource Wealth Advisors LLC raised its holdings in Atlanta Braves by 956.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 697 shares of the financial services provider’s stock worth $33,000 after buying an additional 631 shares during the period. Advisory Services Network LLC acquired a new stake in Atlanta Braves during the 3rd quarter worth approximately $34,000. Fifth Third Bancorp bought a new position in Atlanta Braves in the first quarter valued at approximately $35,000. Finally, Comerica Bank lifted its stake in Atlanta Braves by 44.8% in the first quarter. Comerica Bank now owns 1,031 shares of the financial services provider’s stock valued at $41,000 after buying an additional 319 shares in 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.