Atlanta Braves (NASDAQ:BATRK) Posts Quarterly Earnings Results, Misses Expectations By $0.33 EPS

Atlanta Braves (NASDAQ:BATRK) issued its quarterly earnings data on Wednesday. The financial services provider reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.33), Zacks reports.

Atlanta Braves Stock Down 1.4%

Shares of NASDAQ BATRK traded down $0.70 during trading on Wednesday, hitting $51.03. The company had a trading volume of 379,269 shares, compared to its average volume of 453,491. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of -50.65 and a beta of 0.67. Atlanta Braves has a fifty-two week low of $37.76 and a fifty-two week high of $54.86. The stock has a fifty day simple moving average of $51.10 and a two-hundred day simple moving average of $48.16.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Wall Street Zen downgraded Atlanta Braves from a “hold” rating to a “strong sell” rating in a report on Saturday, August 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Atlanta Braves in a research note on Monday, September 21st. Morgan Stanley lowered shares of Atlanta Braves from an “overweight” rating to an “equal weight” rating and set a $54.00 price target on the stock. in a research note on Wednesday, July 15th. Finally, Rosenblatt Securities decreased their target price on Atlanta Braves from $75.00 to $73.00 and set a “buy” rating for the company in a report on Friday, August 7th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Atlanta Braves currently has a consensus rating of “Hold” and an average target price of $63.50.

Insider Buying and Selling at Atlanta Braves

In other news, EVP Gregory Heller sold 80,263 shares of the business’s stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $53.89, for a total transaction of $4,325,373.07. Following the transaction, the executive vice president directly owned 22,741 shares in the company, valued at $1,225,512.49. The trade was a 77.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Derek Schiller sold 175,395 shares of the company’s stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $53.20, for a total value of $9,331,014.00. Following the completion of the sale, the executive vice president owned 316,908 shares of the company’s stock, valued at approximately $16,859,505.60. The trade was a 35.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

About Atlanta Braves

Atlanta Braves Holdings, Inc owns and operates the Atlanta Braves, a Major League Baseball franchise based in Atlanta, Georgia. The organization generates revenue through professional baseball operations, including ticket sales, sponsorships, broadcasting and media rights, licensing, concessions, premium seating and hospitality.

The Braves play their home games at Truist Park, which opened in 2017 in Cobb County, northwest of downtown Atlanta. The surrounding Battery Atlanta development provides additional dining, retail, entertainment, office and residential offerings, as well as event and hospitality services, supporting the company’s broader sports and mixed-use real estate activities.

The franchise traces its history to 1871 and has operated in Atlanta since 1966, following earlier periods in Boston and Milwaukee.