Atlanta Braves (NASDAQ:BATRK) Announces Earnings Results, Beats Estimates By $0.28 EPS

Atlanta Braves (NASDAQ:BATRK - Get Free Report) announced its quarterly earnings data on Monday. The financial services provider reported ($0.66) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.94) by $0.28, Zacks reports. The company had revenue of $47.21 million during the quarter, compared to analysts' expectations of $36.87 million.

Atlanta Braves Trading Down 0.3%

BATRK stock traded down $0.11 during trading on Friday, hitting $41.32. 248,472 shares of the company's stock were exchanged, compared to its average volume of 282,150. The business has a 50-day moving average price of $39.26 and a two-hundred day moving average price of $39.27. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of -56.60 and a beta of 0.56. Atlanta Braves has a 52-week low of $35.46 and a 52-week high of $44.43.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Atlanta Braves to a "sell" rating in a research note on Friday, February 28th.

Insider Buying and Selling

In other news, major shareholder John C. Malone purchased 38,452 shares of the business's stock in a transaction on Tuesday, April 8th. The shares were bought at an average price of $40.28 per share, with a total value of $1,548,846.56. Following the completion of the transaction, the insider now directly owns 254,428 shares in the company, valued at approximately $10,248,359.84. This represents a 17.80% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Deretta C. Rhodes sold 5,000 shares of Atlanta Braves stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $41.20, for a total value of $206,000.00. Following the transaction, the executive vice president now directly owns 3,112 shares in the company, valued at approximately $128,214.40. This trade represents a 61.64% decrease in their position. The disclosure for this sale can be found here. Insiders acquired a total of 122,632 shares of company stock worth $5,072,723 over the last 90 days. 11.43% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BATRK. Goldman Sachs Group Inc. increased its holdings in shares of Atlanta Braves by 8.8% in the first quarter. Goldman Sachs Group Inc. now owns 269,383 shares of the financial services provider's stock valued at $10,778,000 after purchasing an additional 21,883 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of Atlanta Braves by 12,972.7% in the first quarter. Jones Financial Companies Lllp now owns 18,694 shares of the financial services provider's stock valued at $748,000 after purchasing an additional 18,551 shares during the period. AQR Capital Management LLC acquired a new position in shares of Atlanta Braves in the first quarter valued at approximately $382,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Atlanta Braves by 4.6% in the first 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 purchasing an additional 1,302 shares during the period. Finally, Comerica Bank grew its holdings in Atlanta Braves by 44.8% during the first quarter. Comerica Bank now owns 1,031 shares of the financial services provider's stock worth $41,000 after acquiring an additional 319 shares during the period. Institutional investors and hedge funds own 64.88% of the company's 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.