Atlanta Braves (BATRK) Projected to Post Quarterly Earnings on Monday

Key Points

• Atlanta Braves (NASDAQ: BATRK) is expected to report quarterly results before the open on May 11 with analysts forecasting ($0.83) EPS and $64.6M in revenue; the company beat estimates last quarter with ($0.28) EPS on $61.3M in revenue.
• Shares trade near $50 with a $2.63B market cap and a negative trailing P/E (~-128), and Wall Street ratings are mixed (1 Buy, 2 Hold, 1 Sell) with an average target price of $60.
• Major shareholder John C. Malone purchased 35,000 shares at about $44.23 on Feb. 5, increasing his stake to 521,862 shares, while institutional and hedge fund ownership stands around 64.9%.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) is expected to be issuing its results before the market opens on Monday, May 11th. Analysts expect the company to announce earnings of ($0.83) per share and revenue of $64.60 million for the quarter.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The financial services provider reported ($0.28) EPS for the quarter, topping analysts' consensus estimates of ($0.66) by $0.38. The company had revenue of $61.30 million for the quarter, compared to analyst estimates of $54.93 million. On average, analysts expect Atlanta Braves to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Atlanta Braves Price Performance

Shares of NASDAQ BATRK traded down $0.02 during midday trading on Monday, hitting $50.05. 27,344 shares of the company's stock were exchanged, compared to its average volume of 359,953. Atlanta Braves has a twelve month low of $37.76 and a twelve month high of $50.42. The company has a market cap of $2.63 billion, a PE ratio of -128.45 and a beta of 0.73. The firm's fifty day simple moving average is $44.50 and its 200-day simple moving average is $41.40.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Wall Street Zen lowered Atlanta Braves from a "hold" rating to a "sell" rating in a research report on Sunday, April 12th. Zacks Research lowered Atlanta Braves from a "strong-buy" rating to a "hold" rating in a report on Monday, April 27th. Rosenblatt Securities boosted their target price on Atlanta Braves from $69.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, April 2nd. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Atlanta Braves in a report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $60.00.

Insider Activity at Atlanta Braves

In other Atlanta Braves news, major shareholder John C. Malone bought 35,000 shares of Atlanta Braves stock in a transaction that occurred on Thursday, February 5th. The shares were purchased at an average cost 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 of the company's stock, valued at $23,081,956.26. This represents a 7.19% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Hedge Funds Weigh In On Atlanta Braves

Several large investors have recently added to or reduced their stakes in the business. Hawk Ridge Capital Management LP lifted its position in Atlanta Braves by 16.5% during the fourth quarter. Hawk Ridge Capital Management LP now owns 2,661,429 shares of the financial services provider's stock worth $104,993,000 after buying an additional 377,307 shares during the period. Broad Bay Capital Management LP raised its holdings in shares of Atlanta Braves by 11.9% in the 4th quarter. Broad Bay Capital Management LP now owns 2,202,745 shares of the financial services provider's stock worth $86,898,000 after purchasing an additional 233,771 shares during the period. CI Investments Inc. raised its holdings in shares of Atlanta Braves by 1.0% in the 4th quarter. CI Investments Inc. now owns 1,699,739 shares of the financial services provider's stock worth $67,055,000 after purchasing an additional 16,404 shares during the period. Geode Capital Management LLC raised its holdings in shares of Atlanta Braves by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 1,086,388 shares of the financial services provider's stock worth $42,864,000 after purchasing an additional 2,944 shares during the period. Finally, State of Wisconsin Investment Board raised its holdings in shares of Atlanta Braves by 3.1% in the 4th quarter. State of Wisconsin Investment Board now owns 1,060,550 shares of the financial services provider's stock worth $41,839,000 after purchasing an additional 31,692 shares during the period. 64.88% of the stock is currently owned by hedge funds and other institutional investors.

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.

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