Atlanta Braves (NASDAQ:BATRK) Issues Quarterly Earnings Results, Misses Expectations By $0.50 EPS

Atlanta Braves (NASDAQ:BATRK) released its earnings results on Wednesday. The financial services provider reported ($0.19) EPS for the quarter, missing the consensus estimate of $0.31 by ($0.50), Zacks reports. The firm had revenue of $305.12 million during the quarter, compared to the consensus estimate of $319.00 million.

Atlanta Braves Trading Up 0.9%

Shares of BATRK traded up $0.46 during mid-day trading on Thursday, reaching $50.20. 22,868 shares of the stock traded hands, compared to its average volume of 423,772. The firm has a fifty day moving average price of $50.95 and a 200 day moving average price of $46.77. Atlanta Braves has a 1 year low of $37.76 and a 1 year high of $53.25. The company has a market cap of $2.65 billion, a price-to-earnings ratio of -139.69 and a beta of 0.68.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Brooklyn Investment Group purchased a new stake in shares of Atlanta Braves during the fourth quarter valued at approximately $202,000. CIBC Private Wealth Group LLC boosted its stake in Atlanta Braves by 104.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,357 shares of the financial services provider’s stock valued at $98,000 after purchasing an additional 1,202 shares during the last quarter. Quarry LP increased its holdings in shares of Atlanta Braves by 287.5% in the 3rd quarter. Quarry LP now owns 1,585 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 1,176 shares in the last quarter. Lido Advisors LLC lifted its holdings in shares of Atlanta Braves by 5.1% during the third quarter. Lido Advisors LLC now owns 5,512 shares of the financial services provider’s stock valued at $229,000 after purchasing an additional 269 shares in the last quarter. Finally, US Bancorp DE boosted its position in shares of Atlanta Braves by 14.3% during the third quarter. US Bancorp DE now owns 3,336 shares of the financial services provider’s stock valued at $139,000 after buying an additional 417 shares during the last quarter. 64.88% of the stock is owned by hedge funds and other institutional investors.

Atlanta Braves Company Profile

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.