Atlanta Braves (NASDAQ:BATRK) Announces Earnings Results, Misses Estimates By $0.33 EPS

Atlanta Braves (NASDAQ:BATRK) announced its quarterly earnings data on Wednesday. The financial services provider reported $0.15 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.33), Zacks reports.

Atlanta Braves Trading Down 1.6%

NASDAQ BATRK traded down $0.83 on Wednesday, hitting $50.90. 394,541 shares of the company traded hands, compared to its average volume of 453,590. The business’s 50 day moving average price is $51.10 and its 200-day moving average price is $48.16. Atlanta Braves has a 52-week low of $37.76 and a 52-week high of $54.86. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of -50.45 and a beta of 0.67.

Insider Transactions at Atlanta Braves

In other news, EVP Gregory Heller sold 80,263 shares of the firm’s stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $53.89, for a total transaction of $4,325,373.07. Following the sale, the executive vice president directly owned 22,741 shares in the company, valued at $1,225,512.49. This trade represents a 77.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Derek Schiller sold 175,395 shares of the stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $53.20, for a total value of $9,331,014.00. Following the completion of the sale, the executive vice president owned 316,908 shares of the company’s stock, valued at $16,859,505.60. The trade was a 35.63% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Ratings Changes

Several research firms have recently weighed in on BATRK. Weiss Ratings reissued a “sell (d-)” rating on shares of Atlanta Braves in a report on Monday, September 21st. Morgan Stanley downgraded shares of Atlanta Braves from an “overweight” rating to an “equal weight” rating and set a $54.00 target price for the company. in a research report on Wednesday, July 15th. Wall Street Zen lowered shares of Atlanta Braves from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 8th. Finally, Rosenblatt Securities lowered their price target on Atlanta Braves from $75.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Atlanta Braves has an average rating of “Hold” and an average price target of $63.50.

About Atlanta Braves

Atlanta Braves Holdings, Inc owns and operates the Atlanta Braves, a Major League Baseball franchise based in Atlanta, Georgia. The organization generates revenue through professional baseball operations, including ticket sales, sponsorships, broadcasting and media rights, licensing, concessions, premium seating and hospitality.

The Braves play their home games at Truist Park, which opened in 2017 in Cobb County, northwest of downtown Atlanta. The surrounding Battery Atlanta development provides additional dining, retail, entertainment, office and residential offerings, as well as event and hospitality services, supporting the company’s broader sports and mixed-use real estate activities.

The franchise traces its history to 1871 and has operated in Atlanta since 1966, following earlier periods in Boston and Milwaukee.