Atlanta Braves (NASDAQ:BATRK) Hits New 1-Year High – Here’s What Happened

Shares of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) reached a new 52-week high during trading on Wednesday . The stock traded as high as $52.75 and last traded at $52.3050, with a volume of 27030 shares changing hands. The stock had previously closed at $51.61.

Analyst Upgrades and Downgrades

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

Atlanta Braves Trading Down 1.7%

The company has a market cap of $2.68 billion, a price-to-earnings ratio of -141.06 and a beta of 0.71. The company’s 50 day moving average price is $49.83 and its 200 day moving average price is $44.37.

Atlanta Braves (NASDAQ:BATRK) last issued its quarterly earnings results on Monday, May 11th. The financial services provider reported ($0.63) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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. Sell-side analysts predict that Atlanta Braves Holdings, Inc. will post 0.02 earnings per share for the current year.

Institutional Trading of Atlanta Braves

A number of institutional investors have recently modified their holdings of BATRK. Global Trust Asset Management LLC acquired a new position in Atlanta Braves during the first quarter worth $26,000. EverSource Wealth Advisors LLC increased its holdings in shares of Atlanta Braves by 956.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 697 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 631 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of Atlanta Braves in the third quarter valued at about $34,000. Fifth Third Bancorp purchased a new stake in Atlanta Braves during the first quarter worth about $35,000. Finally, Comerica Bank grew its position in shares of 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 purchasing an additional 319 shares during the period. 64.88% of the stock is currently owned by hedge funds and other institutional investors.

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.