Atlanta Braves (NASDAQ:BATRK) Announces Quarterly Earnings Results

Atlanta Braves (NASDAQ:BATRK) announced its quarterly earnings results on Wednesday. The financial services provider reported ($0.19) EPS for the quarter, missing the consensus estimate of $0.34 by ($0.53), Zacks reports.

Atlanta Braves Stock Performance

NASDAQ:BATRK traded down $1.53 during mid-day trading on Wednesday, reaching $49.67. The stock had a trading volume of 1,390,907 shares, compared to its average volume of 423,536. Atlanta Braves has a one year low of $37.76 and a one year high of $53.25. The firm has a 50 day moving average price of $50.96 and a two-hundred day moving average price of $46.70. The stock has a market capitalization of $2.62 billion, a P/E ratio of -137.96 and a beta of 0.68.

Hedge Funds Weigh In On Atlanta Braves

A number of large investors have recently added to or reduced their stakes in BATRK. EverSource Wealth Advisors LLC boosted its position in 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 buying an additional 631 shares during the period. Advisory Services Network LLC bought a new stake in shares of Atlanta Braves in the 3rd quarter valued at about $34,000. Comerica Bank lifted its stake in shares of Atlanta Braves by 44.8% in the 1st quarter. Comerica Bank now owns 1,031 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 319 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in Atlanta Braves during the 4th quarter valued at about $51,000. Finally, Brown Brothers Harriman & Co. grew its position in Atlanta Braves by 72.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,426 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 64.88% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Zacks Research lowered Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Atlanta Braves in a research report on Wednesday, June 24th. Wall Street Zen upgraded shares of Atlanta Braves from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Morgan Stanley downgraded shares of Atlanta Braves from an “overweight” rating to an “equal weight” rating and set a $54.00 target price on the stock. in a research note on Wednesday, July 15th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $64.50.

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.