Atlanta Braves (NASDAQ:BATRA) Announces Quarterly Earnings Results, Beats Estimates By $0.23 EPS

Atlanta Braves (NASDAQ:BATRA) released 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. Atlanta Braves had a negative net margin of 2.99% and a negative return on equity of 3.98%. The business had revenue of $311.54 million for the quarter, compared to analyst estimates of $309.06 million.

Atlanta Braves Stock Performance

Atlanta Braves stock traded down $0.19 during midday trading on Wednesday, reaching $42.74. The stock had a trading volume of 63,002 shares, compared to its average volume of 53,978. Atlanta Braves has a 12 month low of $38.67 and a 12 month high of $50.50. The firm’s 50-day moving average price is $44.67 and its 200 day moving average price is $45.71. The firm has a market capitalization of $2.68 billion, a PE ratio of -122.11 and a beta of 0.63. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.31.

Insider Activity

In related news, major shareholder John C. Malone purchased 840 shares of the firm’s stock in a transaction dated Monday, October 27th. The shares were purchased at an average cost of $41.99 per share, for a total transaction of $35,271.60. Following the completion of the transaction, the insider directly owned 372,547 shares in the company, valued at approximately $15,643,248.53. This represents a 0.23% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Gamco Investors, Inc. Et Al sold 800 shares of the company’s stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $45.41, for a total value of $36,328.00. Following the sale, the insider owned 1,000 shares in the company, valued at approximately $45,410. This represents a 44.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 3,700 shares of company stock worth $167,859. Company insiders own 5.90% of the company’s stock.

Institutional Trading of Atlanta Braves

Several hedge funds and other institutional investors have recently bought and sold shares of BATRA. AQR Capital Management LLC bought a new stake in Atlanta Braves in the first quarter valued at approximately $211,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Atlanta Braves by 4.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,061 shares of the financial services provider’s stock valued at $266,000 after purchasing an additional 234 shares during the last quarter. Jane Street Group LLC bought a new stake in Atlanta Braves in the first quarter valued at approximately $385,000. Legal & General Group Plc lifted its position in Atlanta Braves by 8.3% in the second quarter. Legal & General Group Plc now owns 8,007 shares of the financial services provider’s stock valued at $394,000 after purchasing an additional 614 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Atlanta Braves by 1,873.1% in the second quarter. EverSource Wealth Advisors LLC now owns 513 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 487 shares during the last quarter. Institutional investors own 12.31% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Atlanta Braves in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $52.50.

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.