Atlanta Braves (BATRK) Expected to Announce Earnings on Thursday

Key Points

• The Atlanta Braves (NASDAQ:BATRK) are set to release their quarterly earnings on Thursday, August 7th, with expected earnings of $0.64 per share and revenue of $296.36 million.
• In their last earnings report, the Braves posted a loss of ($0.66) EPS, surpassing estimates, with revenue at $47.21 million against expectations of $36.87 million.
• Major insider activity includes EVP Derek Gordon Schiller selling 72,505 shares, reducing his ownership by 19.45%, while significant institutional investors have increased their stakes in the company.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) is anticipated to release its earnings data before the market opens on Thursday, August 7th. Analysts expect Atlanta Braves to post earnings of $0.64 per share and revenue of $296.36 million for the quarter.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The financial services provider reported ($0.66) earnings per share for the quarter, beating the consensus estimate of ($0.94) by $0.28. The company had revenue of $47.21 million during the quarter, compared to the consensus estimate of $36.87 million. On average, analysts expect Atlanta Braves to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Atlanta Braves Stock Up 1.4%

NASDAQ:BATRK traded up $0.64 during mid-day trading on Monday, reaching $45.18. 73,384 shares of the company were exchanged, compared to its average volume of 297,937. The company has a fifty day moving average of $44.45 and a 200 day moving average of $41.16. Atlanta Braves has a 12 month low of $35.46 and a 12 month high of $47.18. The stock has a market cap of $2.32 billion, a PE ratio of -129.06 and a beta of 0.67.

Insiders Place Their Bets

In related news, major shareholder Mario J. Gabelli purchased 1,549 shares of the firm's stock in a transaction on Wednesday, May 28th. The stock was bought at an average cost of $43.45 per share, with a total value of $67,304.05. Following the completion of the acquisition, the insider owned 27,152 shares of the company's stock, valued at $1,179,754.40. The trade was a 6.05% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Michael P. Plant sold 69,000 shares of the company's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $43.00, for a total value of $2,967,000.00. Following the completion of the transaction, the executive vice president directly owned 205,593 shares of the company's stock, valued at $8,840,499. The trade was a 25.13% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 217,372 shares of company stock worth $9,451,951. 11.43% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BATRK. Comerica Bank raised its position in shares of Atlanta Braves by 44.8% during the 1st quarter. Comerica Bank now owns 1,031 shares of the financial services provider's stock worth $41,000 after acquiring an additional 319 shares in the last quarter. AQR Capital Management LLC purchased a new stake in Atlanta Braves in the first quarter valued at $382,000. Jones Financial Companies Lllp grew its holdings in shares of Atlanta Braves by 12,972.7% during the first quarter. Jones Financial Companies Lllp now owns 18,694 shares of the financial services provider's stock worth $748,000 after purchasing an additional 18,551 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Atlanta Braves by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,839 shares of the financial services provider's stock valued at $1,194,000 after purchasing an additional 1,302 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Atlanta Braves by 3.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 140,023 shares of the financial services provider's stock worth $5,602,000 after buying an additional 4,868 shares during the last quarter. 64.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BATRK has been the subject of a number of research analyst reports. Wall Street Zen upgraded Atlanta Braves from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Citigroup raised shares of Atlanta Braves to a "hold" rating and set a $45.00 price objective for the company in a research note on Friday, June 13th. Finally, Rosenblatt Securities boosted their price objective on shares of Atlanta Braves from $52.00 to $69.00 and gave the stock a "buy" rating in a research note on Friday, June 20th.

Atlanta Braves Company Profile

Atlanta Braves Holdings, Inc owns and operates the Atlanta Braves Major league baseball club. It also operates mixed-use development project, including retail, office, hotel, and entertainment projects. The company was incorporated in 2022 and is based in Englewood, Colorado.