Atlanta Braves (BATRK) Projected to Post 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 expected to be posting its quarterly earnings results 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 earnings results on Monday, May 12th. The financial services provider reported ($0.66) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.94) by $0.28. The business 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 Trading Down 0.0%

Shares of BATRK stock traded down $0.02 during trading on Friday, hitting $44.54. The company's stock had a trading volume of 384,719 shares, compared to its average volume of 240,767. The company has a market cap of $2.28 billion, a PE ratio of -127.25 and a beta of 0.67. The business has a fifty day moving average of $44.45 and a 200-day moving average of $41.10. Atlanta Braves has a 52 week low of $35.46 and a 52 week high of $47.18.

Insider Transactions at Atlanta Braves

In other news, EVP Michael P. Plant sold 69,000 shares of Atlanta Braves stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $43.00, for a total transaction of $2,967,000.00. Following the completion of the transaction, the executive vice president directly owned 205,593 shares in the company, valued at approximately $8,840,499. This trade represents a 25.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Mario J. Gabelli bought 1,549 shares of the stock in a transaction dated Wednesday, May 28th. The shares were acquired at an average price of $43.45 per share, with a total value of $67,304.05. Following the completion of the acquisition, the insider directly owned 27,152 shares of the company's stock, valued at approximately $1,179,754.40. The trade was a 6.05% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 217,372 shares of company stock valued at $9,451,951. Insiders own 11.43% of the company's stock.

Hedge Funds Weigh In On Atlanta Braves

Several large investors have recently made changes to their positions in the business. Comerica Bank raised its holdings in Atlanta Braves by 44.8% in 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 during the last quarter. AQR Capital Management LLC purchased a new position in Atlanta Braves in the 1st quarter worth approximately $382,000. Jones Financial Companies Lllp raised its holdings in Atlanta Braves by 12,972.7% in the 1st quarter. Jones Financial Companies Lllp now owns 18,694 shares of the financial services provider's stock worth $748,000 after acquiring an additional 18,551 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in 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 worth $1,194,000 after acquiring an additional 1,302 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Atlanta Braves by 3.6% in 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 acquiring 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

Several research firms have issued reports on BATRK. Rosenblatt Securities increased their target price on Atlanta Braves from $52.00 to $69.00 and gave the stock a "buy" rating in a research report on Friday, June 20th. Wall Street Zen upgraded Atlanta Braves from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Citigroup upgraded Atlanta Braves to a "hold" rating and set a $45.00 target price on the stock in a research report on Friday, June 13th.

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.