Atlanta Braves (NASDAQ:BATRK) Releases Quarterly Earnings Results, Beats Expectations By $0.20 EPS

Atlanta Braves (NASDAQ:BATRK) released its quarterly earnings data on Monday. The financial services provider reported ($0.63) earnings per share for the quarter, topping the consensus estimate of ($0.83) by $0.20, Zacks reports. The company had revenue of $72.01 million for the quarter, compared to the consensus estimate of $64.60 million.

Atlanta Braves Trading Down 1.6%

Shares of NASDAQ:BATRK opened at $49.87 on Tuesday. Atlanta Braves has a 1 year low of $37.76 and a 1 year high of $52.05. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of -128.77 and a beta of 0.73. The business has a fifty day simple moving average of $45.21 and a 200 day simple moving average of $41.79.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC boosted its position in shares of Atlanta Braves by 956.1% in the second 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. Advisory Services Network LLC acquired a new position in Atlanta Braves during the 3rd quarter valued at $34,000. Comerica Bank boosted its holdings in 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 purchasing an additional 319 shares during the period. Kestra Advisory Services LLC bought a new stake in Atlanta Braves in the 4th quarter valued at $51,000. Finally, Brown Brothers Harriman & Co. grew its position in Atlanta Braves by 72.6% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,426 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 600 shares during the last quarter. 64.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

BATRK has been the subject of a number of recent analyst reports. Wall Street Zen lowered Atlanta Braves from a “hold” rating to a “sell” rating in a research report on Sunday, April 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Atlanta Braves in a research note on Friday, March 27th. Zacks Research downgraded shares of Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Rosenblatt Securities boosted their price target on shares of Atlanta Braves from $69.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. One investment 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 MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $60.00.

About Atlanta Braves

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.