Atlanta Braves (NASDAQ:BATRK) Reaches New 52-Week High – Here’s Why

Atlanta Braves Holdings, Inc. (NASDAQ:BATRK)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $52.11 and last traded at $51.7150, with a volume of 87662 shares changing hands. The stock had previously closed at $51.54.

Analysts Set New Price Targets

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

Atlanta Braves Stock Performance

The company has a market capitalization of $2.73 billion, a PE ratio of -143.39 and a beta of 0.71. The business’s 50-day moving average is $48.89 and its 200-day moving average is $43.78.

Atlanta Braves (NASDAQ:BATRK) last announced its quarterly earnings data on Monday, May 11th. The financial services provider reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.20. The business had revenue of $72.01 million during the quarter, compared to analysts’ expectations of $64.60 million. Analysts expect that Atlanta Braves Holdings, Inc. will post 0.02 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BATRK. Global Trust Asset Management LLC bought a new stake in Atlanta Braves in the first quarter worth $26,000. EverSource Wealth Advisors LLC increased its holdings in shares of Atlanta Braves by 956.1% during the second quarter. EverSource Wealth Advisors LLC now owns 697 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 631 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Atlanta Braves by 218.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 799 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 548 shares during the last quarter. Advisory Services Network LLC bought a new position in Atlanta Braves in the 3rd quarter worth about $34,000. Finally, Fifth Third Bancorp bought a new position in Atlanta Braves in the 1st quarter worth about $35,000. Institutional investors own 64.88% of the company’s stock.

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.