Atlanta Braves (NASDAQ:BATRA) Issues Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Atlanta Braves (NASDAQ:BATRA) released its quarterly earnings results on Wednesday. The financial services provider reported ($0.66) EPS for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.08, FiscalAI reports. The firm had revenue of $61.30 million for the quarter, compared to analyst estimates of $54.93 million. Atlanta Braves had a negative net margin of 0.14% and a negative return on equity of 0.19%.

Atlanta Braves Price Performance

Shares of Atlanta Braves stock traded up $0.49 during midday trading on Wednesday, reaching $47.93. The company had a trading volume of 20,997 shares, compared to its average volume of 67,191. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.32. The stock has a fifty day simple moving average of $43.96 and a 200 day simple moving average of $44.19. Atlanta Braves has a 1-year low of $38.67 and a 1-year high of $50.50. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of -1,197.95 and a beta of 0.63.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Zacks Research downgraded Atlanta Braves from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Atlanta Braves in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $52.50.

Insider Transactions at Atlanta Braves

In other news, major shareholder John C. Malone acquired 35,000 shares of the firm’s stock in a transaction on Thursday, February 5th. The shares were purchased at an average cost of $44.23 per share, for a total transaction of $1,548,050.00. Following the transaction, the insider owned 521,862 shares of the company’s stock, valued at approximately $23,081,956.26. This represents a 7.19% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Atlanta Braves

Several hedge funds have recently added to or reduced their stakes in BATRA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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 worth $266,000 after purchasing an additional 234 shares during the period. Simplex Trading LLC grew its position in shares of Atlanta Braves by 8.4% during the 4th quarter. Simplex Trading LLC now owns 3,938 shares of the financial services provider’s stock worth $167,000 after buying an additional 305 shares during the period. Occudo Quantitative Strategies LP raised its stake in shares of Atlanta Braves by 6.1% during the third quarter. Occudo Quantitative Strategies LP now owns 6,262 shares of the financial services provider’s stock worth $285,000 after buying an additional 359 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Atlanta Braves by 35.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,774 shares of the financial services provider’s stock worth $87,000 after buying an additional 463 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings 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 buying an additional 487 shares during the period. 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.