Atlanta Braves (NASDAQ:BATRA) Releases Quarterly Earnings Results, Beats Estimates By $0.28 EPS

Atlanta Braves (NASDAQ:BATRA - Get Free Report) issued its quarterly earnings results on Monday. The financial services provider reported ($0.66) earnings per share for the quarter, topping analysts' consensus estimates of ($0.94) by $0.28, Zacks reports. Atlanta Braves had a negative return on equity of 8.48% and a negative net margin of 6.56%. The firm had revenue of $47.21 million during the quarter, compared to the consensus estimate of $36.87 million.

Atlanta Braves Stock Down 0.4%

BATRA stock traded down $0.17 during mid-day trading on Friday, reaching $44.66. 88,823 shares of the company traded hands, compared to its average volume of 43,676. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of -61.18 and a beta of 0.61. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.12. Atlanta Braves has a fifty-two week low of $38.67 and a fifty-two week high of $46.65. The firm's 50 day moving average price is $43.02 and its 200 day moving average price is $42.39.

Insider Buying and Selling at Atlanta Braves

In other Atlanta Braves news, major shareholder John C. Malone acquired 8,371 shares of Atlanta Braves stock in a transaction that occurred on Monday, April 21st. The stock was acquired at an average cost of $41.94 per share, for a total transaction of $351,079.74. Following the purchase, the insider now owns 371,707 shares of the company's stock, valued at approximately $15,589,391.58. This represents a 2.30% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Deretta C. Rhodes sold 5,000 shares of Atlanta Braves stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $41.20, for a total transaction of $206,000.00. Following the completion of the transaction, the executive vice president now owns 3,112 shares of the company's stock, valued at $128,214.40. This represents a 61.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders purchased 122,632 shares of company stock worth $5,072,723. Insiders own 4.83% of the company's stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Atlanta Braves stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Atlanta Braves Holdings, Inc. (NASDAQ:BATRA - Free Report) by 4.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,061 shares of the financial services provider's stock after purchasing an additional 234 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Atlanta Braves were worth $266,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 12.31% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Benchmark reiterated a "buy" rating and set a $60.00 price target on shares of Atlanta Braves in a report on Thursday, February 27th.

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.