Atlanta Braves (NASDAQ:BATRA) Announces Earnings Results, Beats Estimates By $0.09 EPS

Atlanta Braves (NASDAQ:BATRA) released its quarterly earnings results on Monday. The financial services provider reported ($0.63) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.09, FiscalAI reports. Atlanta Braves had a negative net margin of 3.19% and a positive return on equity of 0.08%. The company had revenue of $72.01 million during the quarter, compared to the consensus estimate of $68.69 million.

Atlanta Braves Trading Down 3.7%

Shares of BATRA traded down $2.04 during mid-day trading on Monday, reaching $52.83. 16,928 shares of the company were exchanged, compared to its average volume of 66,690. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.42 and a current ratio of 0.42. Atlanta Braves has a 52 week low of $41.50 and a 52 week high of $56.06. The business has a 50 day simple moving average of $49.54 and a two-hundred day simple moving average of $45.57. The stock has a market capitalization of $3.32 billion, a PE ratio of -135.28 and a beta of 0.68.

Analyst Ratings Changes

Several equities analysts have commented on the company. Zacks Research downgraded Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Atlanta Braves in a research note on Monday, April 20th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $45.00.

Institutional Trading of Atlanta Braves

A number of large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its holdings in shares of Atlanta Braves by 1,873.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 513 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 487 shares during the last quarter. State of Wyoming purchased a new stake in Atlanta Braves during the second quarter valued at about $70,000. Quarry LP purchased a new stake in Atlanta Braves during the third quarter valued at about $74,000. CIBC Private Wealth Group LLC grew its stake in shares of Atlanta Braves by 145.5% during the third quarter. CIBC Private Wealth Group LLC now owns 1,726 shares of the financial services provider’s stock valued at $78,000 after buying an additional 1,023 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of Atlanta Braves by 59.6% in the third quarter. Russell Investments Group Ltd. now owns 1,803 shares of the financial services provider’s stock worth $82,000 after buying an additional 673 shares during the period. Institutional investors own 12.31% of the company’s stock.

Atlanta Braves Company Profile

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.