Atlanta Braves (NASDAQ:BATRK) Releases Earnings Results, Misses Expectations By $0.53 EPS

Atlanta Braves (NASDAQ:BATRK) posted its earnings results on Wednesday. The financial services provider reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.53), Zacks reports.

Atlanta Braves Stock Down 3.0%

Shares of BATRK stock traded down $1.53 during mid-day trading on Wednesday, reaching $49.67. 1,390,907 shares of the company’s stock traded hands, compared to its average volume of 423,536. The company’s 50-day moving average price is $50.96 and its 200-day moving average price is $46.70. The company has a market cap of $2.62 billion, a P/E ratio of -137.96 and a beta of 0.68. Atlanta Braves has a 12 month low of $37.76 and a 12 month high of $53.25.

Institutional Trading of Atlanta Braves

A number of hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC grew its stake in shares of Atlanta Braves by 956.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 697 shares of the financial services provider’s stock worth $33,000 after buying an additional 631 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of Atlanta Braves in the third quarter worth $34,000. Comerica Bank grew its stake in shares of Atlanta Braves by 44.8% in the first quarter. Comerica Bank now owns 1,031 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 319 shares during the last quarter. Kestra Advisory Services LLC bought a new position in shares of Atlanta Braves during the fourth quarter valued at $51,000. Finally, Brown Brothers Harriman & Co. raised its position in shares of 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 Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Zacks Research lowered Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Morgan Stanley lowered Atlanta Braves from an “overweight” rating to an “equal weight” rating and set a $54.00 price target for the company. in a research note on Wednesday, July 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Atlanta Braves in a research report on Wednesday, June 24th. Finally, Wall Street Zen raised shares of Atlanta Braves from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $64.50.

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.