Atlanta Braves (NASDAQ:BATRK) Issues Quarterly Earnings Results

Key Points

• Atlanta Braves reported quarterly earnings of ($0.63) per share, which beat analysts’ expectations of ($0.83) per share by $0.20.
• The stock fell on the news, trading down $1.58 to $49.09 on Monday, though it remains near its 52-week high of $52.05.
• Wall Street sentiment is mixed: the stock has an average Hold rating, with an average target price of $60.00, while recent analyst actions included both upgrades and downgrades.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) issued its earnings results on Monday. The financial services provider reported ($0.63) EPS for the quarter, topping the consensus estimate of ($0.83) by $0.20, Zacks reports.

Atlanta Braves Price Performance

Shares of NASDAQ:BATRK traded down $1.58 on Monday, hitting $49.09. The company's stock had a trading volume of 212,940 shares, compared to its average volume of 364,169. The company has a 50-day simple moving average of $44.95 and a 200 day simple moving average of $41.64. Atlanta Braves has a 1 year low of $37.76 and a 1 year high of $52.05. The company has a market capitalization of $2.58 billion, a PE ratio of -125.85 and a beta of 0.73.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BATRK. Weiss Ratings restated a "sell (d-)" rating on shares of Atlanta Braves in a research note on Friday, March 27th. Zacks Research downgraded Atlanta Braves from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. Rosenblatt Securities raised their target price on Atlanta Braves from $69.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, April 2nd. Finally, Wall Street Zen downgraded Atlanta Braves from a "hold" rating to a "sell" rating in a research note on Sunday, April 12th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Atlanta Braves has an average rating of "Hold" and an average target price of $60.00.

Institutional Trading of Atlanta Braves

Institutional investors and hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC raised its holdings in shares of Atlanta Braves by 956.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 697 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 631 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Atlanta Braves in the 3rd quarter valued at about $34,000. Comerica Bank raised its holdings in shares of Atlanta Braves by 44.8% in the 1st quarter. Comerica Bank now owns 1,031 shares of the financial services provider's stock valued at $41,000 after acquiring an additional 319 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Atlanta Braves in the 4th quarter valued at about $51,000. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of Atlanta Braves by 72.6% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,426 shares of the financial services provider's stock valued at $56,000 after acquiring an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 64.88% of the company's stock.

Atlanta Braves Company Profile

The Atlanta Braves Real Estate Ownership Trust NASDAQ: BATRK is a publicly traded real estate investment trust established in 2021 by Liberty Braves Group. The trust's primary purpose is to own and manage a portfolio of sports and entertainment properties related to the Atlanta Braves baseball franchise. BATRK generates stable rental income by leasing its assets to the Braves Baseball Club, LLC, under long-term lease agreements designed to align property performance with franchise needs.

The trust's portfolio is anchored by Truist Park, the 41,084-seat baseball stadium that has served as the Braves' home since 2017.

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