Atlanta Braves (NASDAQ:BATRA) Posts Quarterly Earnings Results, Misses Expectations By $0.36 EPS

Atlanta Braves (NASDAQ:BATRA) posted its earnings results on Wednesday. The financial services provider reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.36), FiscalAI reports. The firm had revenue of $324.63 million during the quarter, compared to the consensus estimate of $347.36 million. Atlanta Braves had a negative return on equity of 7.45% and a negative net margin of 8.56%.

Atlanta Braves Price Performance

Atlanta Braves stock traded down $1.16 on Wednesday, reaching $55.25. The company’s stock had a trading volume of 47,232 shares, compared to its average volume of 62,052. The business’s fifty day moving average price is $56.25 and its 200 day moving average price is $52.65. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.49 and a current ratio of 0.49. The company has a market cap of $3.48 billion, a price-to-earnings ratio of -54.70 and a beta of 0.64. Atlanta Braves has a twelve month low of $41.50 and a twelve month high of $60.48.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Atlanta Braves in a report on Thursday, October 15th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce”.

Insiders Place Their Bets

In related news, EVP Gregory Heller sold 80,263 shares of the firm’s stock in a transaction that occurred on Tuesday, September 29th. The shares were sold at an average price of $53.89, for a total value of $4,325,373.07. Following the completion of the sale, the executive vice president owned 22,741 shares of the company’s stock, valued at $1,225,512.49. This trade represents a 77.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Derek Gordon Schiller sold 175,395 shares of the business’s stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $53.20, for a total transaction of $9,331,014.00. Following the completion of the transaction, the executive vice president owned 316,908 shares of the company’s stock, valued at $16,859,505.60. This trade represents 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. Company insiders own 5.40% of the company’s stock.

Atlanta Braves Company Profile

Atlanta Braves Holdings, Inc owns and operates the Atlanta Braves, a Major League Baseball franchise based in Atlanta, Georgia. The organization’s primary activities include professional baseball operations, game-day ticketing, premium seating, sponsorships, broadcasting and digital media, concessions, licensing, and the sale of team merchandise.

The company also owns and operates Truist Park, the Braves’ home stadium, and The Battery Atlanta, a mixed-use development adjacent to the ballpark.