Atlanta Braves (NASDAQ:BATRA) Issues Quarterly Earnings Results

Atlanta Braves (NASDAQ:BATRA) issued its earnings results 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 company had revenue of $311.54 million for the quarter, compared to analyst estimates of $309.06 million.

Atlanta Braves Price Performance

Shares of BATRA stock traded down $0.65 during trading hours on Thursday, hitting $42.10. The company’s stock had a trading volume of 26,236 shares, compared to its average volume of 53,797. The business has a fifty day moving average of $44.58 and a 200-day moving average of $45.69. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of -120.27 and a beta of 0.63. Atlanta Braves has a twelve month low of $38.67 and a twelve month high of $50.50. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.31.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Atlanta Braves in a research report on Wednesday, October 8th. One equities research 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’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $52.50.

Insider Activity at Atlanta Braves

In related news, major shareholder Gamco Investors, Inc. Et Al sold 800 shares of the company’s stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $45.41, for a total transaction of $36,328.00. Following the transaction, the insider owned 1,000 shares of the company’s stock, valued at approximately $45,410. This represents a 44.44% 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 Atlanta Braves stock in a transaction that occurred on 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 purchase, the insider directly owned 372,547 shares of the company’s stock, valued at approximately $15,643,248.53. This trade represents a 0.23% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold 3,700 shares of company stock worth $167,859 over the last quarter. Company insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Atlanta Braves

A number of large investors have recently bought and sold shares of BATRA. HRT Financial LP raised its stake in Atlanta Braves by 600.4% during the second quarter. HRT Financial LP now owns 48,679 shares of the financial services provider’s stock worth $2,395,000 after purchasing an additional 41,729 shares during the period. Balyasny Asset Management L.P. purchased a new position in Atlanta Braves during the second quarter worth approximately $1,516,000. Marshall Wace LLP purchased a new position in Atlanta Braves during the second quarter worth approximately $942,000. Jane Street Group LLC raised its stake in Atlanta Braves by 197.5% during the second quarter. Jane Street Group LLC now owns 26,130 shares of the financial services provider’s stock worth $1,286,000 after purchasing an additional 17,347 shares during the period. Finally, Quantinno Capital Management LP raised its stake in shares of Atlanta Braves by 60.0% in the 2nd quarter. Quantinno Capital Management LP now owns 17,407 shares of the financial services provider’s stock valued at $857,000 after acquiring an additional 6,525 shares during the period. Hedge funds and other institutional investors own 12.31% of the company’s stock.

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.