Last Updated: 17 Sep 2024
Executive Summary
Atlanta Braves Holdings, Inc. (BATRA) is a publicly traded company that owns the Atlanta Braves Major League Baseball Club (ANLBC) and the assets and liabilities associated with the ANLBC stadium and mixed-use development project. The company's stock has been trading in a range between $36.78 and $46.65 over the past 52 weeks. The latest stock price is $43.6.
Company Overview
Liberty Braves Group, through its subsidiary, Braves Holdings, LLC, owns the Atlanta Braves Major League Baseball Club (ANLBC), assets and liabilities associated with the ANLBC stadium and mixed-use development project. The company's stadium, Truist Park, is located in the Cumberland/Galleria area of Atlanta, Georgia. The stadium has a capacity of 41,149 and opened in 2017. The mixed-use development project, The Battery Atlanta, is a 1.5 million square foot development that includes retail, dining, and entertainment options.
Fundamental Analysis
BATRA's financial performance has been mixed in recent years. The company's revenue has grown in each of the past three years, but its net income has declined. In 2023, the company reported revenue of $659.5 million and a net loss of $23.0 million. The company's operating margin was 8.8% in 2023, down from 10.2% in 2022.
BATRA's balance sheet is strong. The company has $257.1 million in cash and equivalents and no debt. The company's book value is $8.27 per share.
BATRA's stock is currently trading at a forward price-to-earnings ratio of 333.33. This is a high valuation, but it is in line with the valuations of other professional sports teams.
Technical Analysis
BATRA's stock price has been trending higher in recent months. The stock is currently trading above its 50-day and 200-day moving averages. The stock's relative strength index (RSI) is 63.6, which is in the overbought range.
Short Term Outlook
BATRA's stock price is likely to continue to trade in a range in the short term. The stock is overbought, but it is still trading above its moving averages. The company's financial performance is mixed, but its balance sheet is strong.
Long Term Outlook
BATRA's long-term outlook is positive. The company owns a valuable asset in the Atlanta Braves Major League Baseball Club. The company's stadium and mixed-use development project are also valuable assets. The company's financial performance is likely to improve in the long term as the company benefits from the growth of the Atlanta Braves brand.
Analyst Recommendations
Two analysts have issued buy ratings on BATRA's stock in the past three months. The average analyst target price is $59.00.
