Atlanta Braves (NASDAQ:BATRA) Releases Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Atlanta Braves (NASDAQ:BATRA) posted its earnings results on Wednesday. The financial services provider reported ($0.66) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.08, FiscalAI reports. The business had revenue of $61.30 million for the quarter, compared to analyst estimates of $54.93 million. Atlanta Braves had a negative net margin of 0.14% and a negative return on equity of 0.19%.

Atlanta Braves Stock Performance

BATRA stock traded up $0.49 during midday trading on Wednesday, hitting $47.93. The stock had a trading volume of 20,997 shares, compared to its average volume of 67,191. Atlanta Braves has a 52 week low of $38.67 and a 52 week high of $50.50. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.32. The stock has a 50-day simple moving average of $43.96 and a 200 day simple moving average of $44.19. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of -1,197.95 and a beta of 0.63.

Insider Activity

In other Atlanta Braves news, major shareholder John C. Malone acquired 35,000 shares of Atlanta Braves stock in a transaction dated Thursday, February 5th. The stock was bought at an average cost of $44.23 per share, with a total value of $1,548,050.00. Following the acquisition, the insider owned 521,862 shares of the company’s stock, valued at approximately $23,081,956.26. The trade was a 7.19% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC bought a new stake in shares of Atlanta Braves in the 1st quarter valued at approximately $211,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Atlanta Braves by 4.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,061 shares of the financial services provider’s stock valued at $266,000 after buying an additional 234 shares in the last quarter. Jane Street Group LLC acquired a new stake in Atlanta Braves in the 1st quarter valued at $385,000. Legal & General Group Plc grew its position in Atlanta Braves by 8.3% in the second quarter. Legal & General Group Plc now owns 8,007 shares of the financial services provider’s stock valued at $394,000 after acquiring an additional 614 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Atlanta Braves by 1,873.1% during the second quarter. EverSource Wealth Advisors LLC now owns 513 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 487 shares during the period. Institutional investors own 12.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BATRA. Zacks Research cut Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Atlanta Braves in a research note on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $52.50.

About Atlanta Braves

The Atlanta Braves (NASDAQ: BATRA) are a professional baseball club that competes in Major League Baseball’s National League East division. Founded in 1871 as the Boston Red Stockings, the franchise relocated to Milwaukee in 1953 before settling in Atlanta in 1966. As one of MLB’s oldest and most storied organizations, the Braves are responsible for fielding a Major League team, overseeing player development through a network of minor league affiliates, and managing baseball operations under the leadership of President of Baseball Operations Alex Anthopoulos.

Beyond on‐field performance, the Braves operate a diversified sports and entertainment business.