Atlanta Braves (NASDAQ:BATRK) Reaches New 1-Year High on Analyst Upgrade

Atlanta Braves Holdings, Inc. (NASDAQ:BATRK)’s stock price reached a new 52-week high on Friday after Rosenblatt Securities raised their price target on the stock from $52.00 to $69.00. Rosenblatt Securities currently has a buy rating on the stock. Atlanta Braves traded as high as $44.74 and last traded at $44.52, with a volume of 83597 shares. The stock had previously closed at $43.68.

Other equities analysts have also issued reports about the company. Citigroup raised Atlanta Braves to a “hold” rating and set a $45.00 price objective on the stock in a research note on Friday, June 13th. Wall Street Zen raised Atlanta Braves from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd.

Insider Buying and Selling at Atlanta Braves

In other news, major shareholder John C. Malone bought 38,452 shares of the stock in a transaction dated Tuesday, April 8th. The shares were bought at an average cost of $40.28 per share, with a total value of $1,548,846.56. Following the completion of the transaction, the insider now directly owns 254,428 shares of the company’s stock, valued at $10,248,359.84. This trade represents a 17.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Deretta C. Rhodes sold 767 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $40.97, for a total value of $31,423.99. Following the transaction, the executive vice president now directly owns 3,112 shares in the company, valued at $127,498.64. The trade was a 19.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 121,872 shares of company stock valued at $5,043,730 and have sold 147,272 shares valued at $6,322,139. Insiders own 11.43% of the company’s stock.

Hedge Funds Weigh In On Atlanta Braves

A number of institutional investors have recently modified their holdings of BATRK. CWM LLC grew its holdings in Atlanta Braves by 56.4% during the first quarter. CWM LLC now owns 824 shares of the financial services provider’s stock worth $33,000 after buying an additional 297 shares in the last quarter. Comerica Bank grew its holdings in Atlanta Braves by 44.8% during the first quarter. Comerica Bank now owns 1,031 shares of the financial services provider’s stock worth $41,000 after buying an additional 319 shares in the last quarter. Federated Hermes Inc. bought a new stake in Atlanta Braves during the fourth quarter worth $40,000. Summit Securities Group LLC bought a new stake in Atlanta Braves during the first quarter worth $60,000. Finally, Versant Capital Management Inc grew its holdings in Atlanta Braves by 335.7% during the first quarter. Versant Capital Management Inc now owns 1,817 shares of the financial services provider’s stock worth $73,000 after buying an additional 1,400 shares in the last quarter. 64.88% of the stock is owned by institutional investors and hedge funds.

Atlanta Braves Stock Performance

The stock has a market cap of $2.36 billion, a P/E ratio of -131.40 and a beta of 0.54. The business has a 50 day simple moving average of $40.71 and a 200-day simple moving average of $39.50.

Atlanta Braves (NASDAQ:BATRK) last announced its quarterly earnings data on Monday, May 12th. The financial services provider reported ($0.66) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.94) by $0.28. The business had revenue of $47.21 million during the quarter, compared to the consensus estimate of $36.87 million. On average, sell-side analysts predict that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current fiscal year.

About Atlanta Braves

Atlanta Braves Holdings, Inc owns and operates the Atlanta Braves Major league baseball club. It also operates mixed-use development project, including retail, office, hotel, and entertainment projects. The company was incorporated in 2022 and is based in Englewood, Colorado.