Atlanta Braves (BATRA) to Release Quarterly Earnings on Monday

Key Points

• Atlanta Braves will report quarterly results before the market opens on Monday, May 11, with analysts projecting a loss of ($0.7156) EPS and revenue of $68.685 million for the quarter.
• The company beat estimates in the prior quarter (reported ($0.28) EPS vs. consensus ($0.74)), and analysts now expect $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.
• Major shareholder John C. Malone bought 35,000 shares in February (a 7.19% increase in his stake), while analysts' consensus rates the stock as "Reduce" with an average price target of $45.00 versus a recent share price near $53.59.

Atlanta Braves (NASDAQ:BATRA - Get Free Report) is projected to issue its results before the market opens on Monday, May 11th. Analysts expect the company to announce earnings of ($0.7156) per share and revenue of $68.6850 million for the quarter.

Atlanta Braves (NASDAQ:BATRA - Get Free Report) last announced its earnings results on Wednesday, February 25th. The financial services provider reported ($0.28) EPS for the quarter, topping analysts' consensus estimates of ($0.74) by $0.46. Atlanta Braves had a positive return on equity of 0.08% and a negative net margin of 3.19%.The company had revenue of $61.30 million for the quarter, compared to analysts' expectations of $54.93 million. On average, analysts expect Atlanta Braves to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Atlanta Braves Stock Performance

Atlanta Braves stock traded down $0.55 during trading on Monday, reaching $53.59. The company had a trading volume of 7,335 shares, compared to its average volume of 68,015. Atlanta Braves has a 52 week low of $41.50 and a 52 week high of $54.58. The firm's 50-day simple moving average is $49.10 and its 200 day simple moving average is $45.33. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of -137.72 and a beta of 0.68. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 1.16.

Insider Buying and Selling

In related news, major shareholder John C. Malone bought 35,000 shares of the company's stock in a transaction that occurred on Thursday, February 5th. The stock was purchased at an average price of $44.23 per share, for a total transaction of $1,548,050.00. Following the completion of the transaction, the insider owned 521,862 shares in the company, valued at $23,081,956.26. The trade was a 7.19% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Atlanta Braves

Several institutional investors have recently bought and sold shares of the stock. Corient Private Wealth LLC increased its holdings in shares of Atlanta Braves by 4.0% in the fourth quarter. Corient Private Wealth LLC now owns 5,417 shares of the financial services provider's stock worth $230,000 after purchasing an additional 206 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in shares of Atlanta Braves by 42.8% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 7,624 shares of the financial services provider's stock worth $324,000 after purchasing an additional 2,286 shares during the last quarter. Susquehanna Portfolio Strategies LLC bought a new stake in shares of Atlanta Braves in the fourth quarter worth about $318,000. Balyasny Asset Management L.P. increased its holdings in shares of Atlanta Braves by 1.9% in the fourth quarter. Balyasny Asset Management L.P. now owns 27,650 shares of the financial services provider's stock worth $1,175,000 after purchasing an additional 512 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of Atlanta Braves in the fourth quarter worth about $201,000. 12.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BATRA has been the topic of a number of recent research reports. Zacks Research cut Atlanta Braves from a "strong-buy" rating to a "hold" rating in a report on Monday, April 27th. Weiss Ratings reissued a "sell (d-)" rating on shares of Atlanta Braves in a report on Monday, April 20th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and an average target price of $45.00.

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.

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