Atlanta Braves (NASDAQ:BATRA) Releases Earnings Results, Beats Estimates By $0.12 EPS

Key Points

• Atlanta Braves reported an earnings per share (EPS) of $0.46 for the quarter, exceeding analysts' estimates of $0.34 by $0.12.
• The company recorded a revenue of $312.44 million, surpassing the expected $295.86 million.
• Atlanta Braves' stock traded down 1.3% to $46.71 following the earnings release, with a market capitalization of $2.89 billion.

Atlanta Braves (NASDAQ:BATRA - Get Free Report) released its quarterly earnings results on Thursday. The financial services provider reported $0.46 earnings per share for the quarter, beating analysts' consensus estimates of $0.34 by $0.12, Zacks reports. The business had revenue of $312.44 million for the quarter, compared to the consensus estimate of $295.86 million. Atlanta Braves had a negative net margin of 2.99% and a negative return on equity of 4.00%.

Atlanta Braves Trading Down 1.3%

NASDAQ:BATRA traded down $0.63 during trading hours on Friday, hitting $46.71. 24,118 shares of the stock were exchanged, compared to its average volume of 38,827. The company's 50 day moving average is $47.68 and its two-hundred day moving average is $44.76. Atlanta Braves has a twelve month low of $38.67 and a twelve month high of $50.50. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $2.89 billion, a P/E ratio of -133.46 and a beta of 0.68.

Insider Transactions at Atlanta Braves

In related news, EVP Deretta C. Rhodes sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $41.20, for a total value of $206,000.00. Following the transaction, the executive vice president directly owned 3,112 shares in the company, valued at $128,214.40. This represents a 61.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Mario J. Gabelli acquired 1,549 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The stock was acquired at an average price of $43.45 per share, for a total transaction of $67,304.05. Following the completion of the acquisition, the insider directly owned 27,152 shares of the company's stock, valued at $1,179,754.40. This trade represents a 6.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 217,372 shares of company stock worth $9,451,951 in the last quarter. 4.83% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Atlanta Braves

Several hedge funds have recently bought and sold shares of BATRA. Jane Street Group LLC bought a new stake in shares of Atlanta Braves during the first quarter worth $385,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Atlanta Braves by 4.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,061 shares of the financial services provider's stock worth $266,000 after purchasing an additional 234 shares during the period. Finally, AQR Capital Management LLC bought a new position in Atlanta Braves during the 1st quarter worth about $211,000. 12.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Citigroup assumed coverage on shares of Atlanta Braves in a research report on Friday, June 13th. They set a "neutral" rating and a $45.00 target price on the stock.

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.

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