Atlanta Braves (NASDAQ:BATRK) Issues Earnings Results, Beats Expectations By $0.38 EPS

Atlanta Braves (NASDAQ:BATRK) issued its quarterly earnings results on Wednesday. The financial services provider reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.66) by $0.38, Zacks reports.

Atlanta Braves Stock Up 0.7%

Shares of BATRK stock traded up $0.32 during mid-day trading on Wednesday, reaching $43.45. 163,032 shares of the company’s stock traded hands, compared to its average volume of 351,155. The company has a market cap of $2.24 billion, a P/E ratio of -1,086.10 and a beta of 0.61. The company’s 50-day moving average price is $40.33 and its 200-day moving average price is $40.70. Atlanta Braves has a 12 month low of $35.46 and a 12 month high of $47.18.

Insider Buying and Selling

In other Atlanta Braves news, major shareholder John C. Malone bought 35,000 shares of the firm’s stock in a transaction on Thursday, February 5th. The stock was acquired at an average price of $44.23 per share, with a total value of $1,548,050.00. Following the transaction, the insider owned 521,862 shares in the company, valued at $23,081,956.26. This represents a 7.19% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Institutional Investors Weigh In On Atlanta Braves

Hedge funds have recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV purchased a new position in Atlanta Braves in the fourth quarter worth about $287,000. KKM Financial LLC bought a new stake in shares of Atlanta Braves in the 4th quarter valued at approximately $849,000. nVerses Capital LLC purchased a new position in shares of Atlanta Braves in the 4th quarter worth approximately $249,000. Summit Securities Group LLC increased its position in shares of Atlanta Braves by 50.0% during the 4th quarter. Summit Securities Group LLC now owns 3,000 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Boothbay Fund Management LLC raised its holdings in Atlanta Braves by 435.0% during the 4th quarter. Boothbay Fund Management LLC now owns 128,311 shares of the financial services provider’s stock valued at $5,062,000 after buying an additional 104,326 shares during the period. 64.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BATRK has been the topic of a number of recent research reports. Rosenblatt Securities reiterated a “buy” rating and set a $69.00 price target on shares of Atlanta Braves in a research note on Tuesday, December 2nd. Wall Street Zen raised Atlanta Braves from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Atlanta Braves in a research note on Monday, December 29th. Finally, Zacks Research downgraded shares of Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $57.00.

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.