Atlanta Braves (NASDAQ:BATRK) Issues Earnings Results

Key Points

• The Atlanta Braves reported a quarterly earnings per share (EPS) of $0.46, missing the consensus estimate of $0.64 by $0.18, although revenues were higher than expected at $312.44 million.
• Shares of Atlanta Braves (NASDAQ:BATRK) fell by 2.1% to $43.76 amidst the earnings report, with a current market cap of $2.24 billion and a trading volume surpassing average levels.
• Insider transactions included major shareholder Mario J. Gabelli acquiring 1,549 shares, while EVP Derek Gordon Schiller sold 72,505 shares, indicating fluctuations in insider ownership stakes.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) posted its quarterly earnings results on Thursday. The financial services provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.18), Zacks reports. The firm had revenue of $312.44 million during the quarter, compared to analyst estimates of $296.36 million.

Atlanta Braves Stock Down 2.1%

Shares of NASDAQ:BATRK traded down $0.96 during midday trading on Friday, reaching $43.76. The company's stock had a trading volume of 302,776 shares, compared to its average volume of 265,379. Atlanta Braves has a 1 year low of $35.46 and a 1 year high of $47.18. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of -125.03 and a beta of 0.67. The business has a 50 day moving average price of $44.86 and a 200 day moving average price of $41.37.

Insider Transactions at Atlanta Braves

In related news, major shareholder Mario J. Gabelli acquired 1,549 shares of Atlanta Braves stock in a transaction on Wednesday, May 28th. The shares were bought at an average price of $43.45 per share, for a total transaction of $67,304.05. Following the completion of the purchase, the insider directly owned 27,152 shares in the company, valued at $1,179,754.40. This trade represents a 6.05% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Derek Gordon Schiller sold 72,505 shares of the business'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 $3,117,715.00. Following the completion of the transaction, the executive vice president owned 300,233 shares in the company, valued at approximately $12,910,019. This trade represents a 19.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 217,372 shares of company stock worth $9,451,951 over the last ninety days. 11.43% of the stock is owned by insiders.

Institutional Trading of Atlanta Braves

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Comerica Bank increased its stake in shares of Atlanta Braves by 44.8% in the first quarter. Comerica Bank now owns 1,031 shares of the financial services provider's stock valued at $41,000 after purchasing an additional 319 shares during the period. AQR Capital Management LLC bought a new stake in Atlanta Braves during the 1st quarter valued at $382,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Atlanta Braves by 4.6% during 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 acquiring an additional 1,302 shares in the last quarter. Jones Financial Companies Lllp raised its stake in Atlanta Braves by 12,972.7% during the 1st quarter. Jones Financial Companies Lllp now owns 18,694 shares of the financial services provider's stock valued at $748,000 after acquiring an additional 18,551 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Atlanta Braves by 8.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 269,383 shares of the financial services provider's stock valued at $10,778,000 after acquiring an additional 21,883 shares in the last quarter. 64.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on BATRK shares. Wall Street Zen raised Atlanta Braves from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Rosenblatt Securities raised their price target on Atlanta Braves from $52.00 to $69.00 and gave the stock a "buy" rating in a research report on Friday, June 20th. Finally, Citigroup raised Atlanta Braves to a "hold" rating and set a $45.00 price target for the company 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.

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