Atlanta Braves (NASDAQ:BATRA) Announces Earnings Results, Misses Estimates By $0.48 EPS

Key Points

• Atlanta Braves missed quarterly earnings expectations: The company reported a loss of $0.19 per share, $0.48 below the consensus estimate of $0.29, while revenue of $305.12 million also fell short of analysts’ $317.09 million forecast.
• Shares declined following the results: BATRA stock fell $2.65 to $52.16 in midday trading, with market capitalization at approximately $3.28 billion.
• Analyst sentiment remains cautious: Recent ratings include “Hold” and “Sell,” giving the stock a consensus “Reduce” rating, while hedge funds and institutional investors own 12.31% of the shares.

Atlanta Braves (NASDAQ:BATRA - Get Free Report) posted its quarterly earnings results on Wednesday. The financial services provider reported ($0.19) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.29 by ($0.48), FiscalAI reports. The company had revenue of $305.12 million during the quarter, compared to analyst estimates of $317.09 million. Atlanta Braves had a negative net margin of 2.97% and a positive return on equity of 0.25%.

Atlanta Braves Stock Performance

Shares of BATRA traded down $2.65 during midday trading on Wednesday, reaching $52.16. 163,745 shares of the stock were exchanged, compared to its average volume of 63,033. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of -144.88 and a beta of 0.64. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.46 and a quick ratio of 0.46. Atlanta Braves has a twelve month low of $41.50 and a twelve month high of $58.37. The business's 50-day moving average price is $55.34 and its 200 day moving average price is $51.01.

Hedge Funds Weigh In On Atlanta Braves

A number of hedge funds have recently modified their holdings of the business. Corient Private Wealth LLC increased its stake in 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 valued at $230,000 after purchasing an additional 206 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Atlanta Braves by 4.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,061 shares of the financial services provider's stock valued at $266,000 after purchasing an additional 234 shares during the period. Simplex Trading LLC raised its stake in shares of Atlanta Braves by 8.4% during the fourth quarter. Simplex Trading LLC now owns 3,938 shares of the financial services provider's stock worth $167,000 after purchasing an additional 305 shares during the last quarter. Occudo Quantitative Strategies LP boosted its holdings in shares of Atlanta Braves by 6.1% in the third quarter. Occudo Quantitative Strategies LP now owns 6,262 shares of the financial services provider's stock valued at $285,000 after acquiring an additional 359 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of Atlanta Braves by 35.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,774 shares of the financial services provider's stock worth $87,000 after acquiring an additional 463 shares during the period. 12.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Zacks Research downgraded shares of Atlanta Braves from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. Weiss Ratings restated a "sell (d-)" rating on shares of Atlanta Braves in a research note on Friday, July 17th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce".

Atlanta Braves Company Profile

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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