Atlanta Braves (NASDAQ:BATRK) Issues Quarterly Earnings Results

Atlanta Braves (NASDAQ:BATRK) issued its quarterly earnings data on Wednesday. The financial services provider reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.23, Zacks reports. The firm had revenue of $311.54 million for the quarter, compared to the consensus estimate of $309.06 million.

Atlanta Braves Stock Down 1.8%

NASDAQ BATRK traded down $0.73 during trading hours on Wednesday, hitting $40.15. The company’s stock had a trading volume of 406,105 shares, compared to its average volume of 300,641. The stock has a fifty day moving average of $41.25 and a 200 day moving average of $42.56. Atlanta Braves has a twelve month low of $35.46 and a twelve month high of $47.18. The firm has a market capitalization of $2.52 billion, a P/E ratio of -114.71 and a beta of 0.61.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Atlanta Braves in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Atlanta Braves has a consensus rating of “Hold” and an average target price of $57.00.

Insider Activity at Atlanta Braves

In related news, major shareholder Gamco Investors, Inc. Et Al sold 1,100 shares of the stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $45.19, for a total value of $49,709.00. Following the transaction, the insider directly owned 1,800 shares in the company, valued at $81,342. This represents a 37.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder John C. Malone acquired 840 shares of the business’s stock in a transaction that occurred on Monday, October 27th. The stock was acquired at an average price of $41.99 per share, for a total transaction of $35,271.60. Following the completion of the acquisition, the insider directly owned 372,547 shares of the company’s stock, valued at $15,643,248.53. This trade represents a 0.23% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold 3,700 shares of company stock worth $167,859 over the last 90 days.

Institutional Investors Weigh In On Atlanta Braves

Several hedge funds have recently bought and sold shares of BATRK. EverSource Wealth Advisors LLC grew its position in shares of Atlanta Braves by 956.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 697 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 631 shares during the period. Comerica Bank grew its position 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 period. Osaic Holdings Inc. grew its position in shares of Atlanta Braves by 38.1% in the 2nd quarter. Osaic Holdings Inc. now owns 1,464 shares of the financial services provider’s stock valued at $68,000 after acquiring an additional 404 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Atlanta Braves by 409.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,063 shares of the financial services provider’s stock valued at $237,000 after acquiring an additional 4,070 shares during the period. Finally, Prudential Financial Inc. bought a new position in shares of Atlanta Braves in the 2nd quarter valued at about $276,000. 64.88% of the stock is currently owned by institutional investors and hedge funds.

Atlanta Braves Company Profile

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.