Atlanta Braves (NASDAQ:BATRA) Releases Earnings Results, Beats Estimates By $0.09 EPS

Atlanta Braves (NASDAQ:BATRA) issued its earnings results on Monday. The financial services provider reported ($0.63) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.09, FiscalAI reports. The business had revenue of $72.01 million during the quarter, compared to analyst estimates of $68.69 million. Atlanta Braves had a positive return on equity of 0.08% and a negative net margin of 3.19%.

Atlanta Braves Price Performance

Shares of NASDAQ:BATRA traded down $1.89 during midday trading on Monday, reaching $52.99. The company’s stock had a trading volume of 13,688 shares, compared to its average volume of 66,647. Atlanta Braves has a fifty-two week low of $41.50 and a fifty-two week high of $56.06. The company has a market capitalization of $3.33 billion, a P/E ratio of -136.62 and a beta of 0.68. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.42 and a quick ratio of 0.42. The business’s fifty day simple moving average is $49.54 and its 200-day simple moving average is $45.57.

Analyst Ratings Changes

BATRA has been the subject of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Atlanta Braves in a research note on Monday, April 20th. Zacks Research lowered Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $45.00.

Hedge Funds Weigh In On Atlanta Braves

Several hedge funds have recently added to or reduced their stakes in the company. Corient Private Wealth LLC boosted its holdings in Atlanta Braves by 4.0% in the fourth quarter. Corient Private Wealth LLC now owns 5,417 shares of the financial services provider’s stock valued at $230,000 after acquiring an additional 206 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in Atlanta Braves by 42.8% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 7,624 shares of the financial services provider’s stock worth $324,000 after buying an additional 2,286 shares during the last quarter. Susquehanna Portfolio Strategies LLC acquired a new stake in shares of Atlanta Braves during the fourth quarter worth about $318,000. Balyasny Asset Management L.P. raised its position in shares of Atlanta Braves by 1.9% during the fourth quarter. Balyasny Asset Management L.P. now owns 27,650 shares of the financial services provider’s stock worth $1,175,000 after purchasing an additional 512 shares during the period. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Atlanta Braves during the fourth quarter worth about $201,000. Institutional investors own 12.31% of the company’s stock.

About Atlanta Braves

The Atlanta Braves (NASDAQ: BATRA) are a professional baseball club that competes in Major League Baseball’s National League East division. Founded in 1871 as the Boston Red Stockings, the franchise relocated to Milwaukee in 1953 before settling in Atlanta in 1966. As one of MLB’s oldest and most storied organizations, the Braves are responsible for fielding a Major League team, overseeing player development through a network of minor league affiliates, and managing baseball operations under the leadership of President of Baseball Operations Alex Anthopoulos.

Beyond on?field performance, the Braves operate a diversified sports and entertainment business.