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

Atlanta Braves Holdings, Inc. (NASDAQ:BATRKGet Free Report)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $52.75 and last traded at $52.3050, with a volume of 27030 shares. The stock had previously closed at $51.61.

Analysts Set New Price Targets

BATRK has been the subject of a number of research reports. Zacks Research cut Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Atlanta Braves in a research note on Friday, March 27th. Wall Street Zen upgraded Atlanta Braves from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Rosenblatt Securities upped their price objective on Atlanta Braves from $69.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. One investment 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $75.00.

Get Our Latest Research Report on Atlanta Braves

Atlanta Braves Stock Performance

The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of -144.51 and a beta of 0.71. The company has a fifty day simple moving average of $49.57 and a 200 day simple moving average of $44.19.

Atlanta Braves (NASDAQ:BATRKGet Free Report) last issued its quarterly earnings results 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 company had revenue of $72.01 million during 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.

Institutional Investors Weigh In On Atlanta Braves

Institutional investors have recently modified their holdings of the company. Comerica Bank boosted its position in Atlanta Braves by 44.8% during the first quarter. Comerica Bank now owns 1,031 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 319 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of Atlanta Braves during the first quarter valued at approximately $382,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Atlanta Braves by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,839 shares of the financial services provider’s stock valued at $1,194,000 after acquiring an additional 1,302 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Atlanta Braves by 12,972.7% during the first quarter. Jones Financial Companies Lllp now owns 18,694 shares of the financial services provider’s stock worth $748,000 after purchasing an additional 18,551 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of Atlanta Braves by 8.8% during the first quarter. Goldman Sachs Group Inc. now owns 269,383 shares of the financial services provider’s stock worth $10,778,000 after purchasing an additional 21,883 shares during the period. 64.88% of the stock is owned by institutional investors.

About Atlanta Braves

(Get Free Report)

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.

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