Atlanta Braves (NASDAQ:BATRK) Issues Earnings Results, Misses Estimates By $0.53 EPS

Atlanta Braves (NASDAQ:BATRK) announced its quarterly earnings results on Wednesday. The financial services provider reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.53), Zacks reports.

Atlanta Braves Price Performance

NASDAQ BATRK traded down $1.45 on Wednesday, hitting $49.75. The company had a trading volume of 1,708,631 shares, compared to its average volume of 426,547. The company’s fifty day moving average price is $50.96 and its 200-day moving average price is $46.70. The company has a market capitalization of $2.63 billion, a PE ratio of -138.19 and a beta of 0.68. Atlanta Braves has a 12-month low of $37.76 and a 12-month high of $53.25.

Institutional Trading of Atlanta Braves

A number of institutional investors and hedge funds have recently modified their holdings of BATRK. OmniStar Financial Group Inc. acquired a new stake in Atlanta Braves in the 3rd quarter worth about $264,000. Mariner LLC acquired a new position in shares of Atlanta Braves during the third quarter valued at approximately $262,000. nVerses Capital LLC purchased a new position in shares of Atlanta Braves in the fourth quarter valued at approximately $249,000. Tower Research Capital LLC TRC lifted its position in shares of Atlanta Braves by 409.9% in the second quarter. Tower Research Capital LLC TRC now owns 5,063 shares of the financial services provider’s stock valued at $237,000 after acquiring an additional 4,070 shares in the last quarter. Finally, Lido Advisors LLC boosted its stake in shares of Atlanta Braves by 5.1% in the third quarter. Lido Advisors LLC now owns 5,512 shares of the financial services provider’s stock worth $229,000 after acquiring an additional 269 shares during the last quarter. Hedge funds and other institutional investors own 64.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Wall Street Zen upgraded Atlanta Braves from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Morgan Stanley cut 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 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. Finally, Zacks Research downgraded shares of Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $64.50.

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.