Atlanta Braves (NASDAQ:BATRA) Issues Quarterly Earnings Results, Misses Expectations By $0.36 EPS

Key Points

• Atlanta Braves reported quarterly EPS of $0.15, missing the $0.51 consensus estimate by $0.36. Revenue was $324.63 million, below analysts’ $347.36 million forecast.
• The stock fell 1.4% to $55.62 on Wednesday. The company also reported a negative net margin of 8.56% and negative return on equity of 7.45%.
• Two executive vice presidents sold shares under pre-arranged Rule 10b5-1 plans, while analyst coverage averaged a “Reduce” rating, with one Hold and one Sell recommendation.

Atlanta Braves (NASDAQ:BATRA - Get Free Report) posted its quarterly earnings data on Wednesday. The financial services provider reported $0.15 EPS for the quarter, missing analysts' consensus estimates of $0.51 by ($0.36), FiscalAI reports. The firm had revenue of $324.63 million during the quarter, compared to the consensus estimate of $347.36 million. Atlanta Braves had a negative net margin of 8.56% and a negative return on equity of 7.45%.

Atlanta Braves Stock Down 1.4%

Shares of BATRA stock traded down $0.79 on Wednesday, reaching $55.62. 45,760 shares of the company were exchanged, compared to its average volume of 62,042. The company has a 50-day moving average of $56.25 and a 200-day moving average of $52.65. The company has a market cap of $3.50 billion, a price-to-earnings ratio of -55.03 and a beta of 0.64. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.49 and a quick ratio of 0.49. Atlanta Braves has a one year low of $41.50 and a one year high of $60.48.

Insider Buying and Selling at Atlanta Braves

In other Atlanta Braves news, EVP Gregory Heller sold 80,263 shares of the firm's stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $53.89, for a total value of $4,325,373.07. Following the transaction, the executive vice president directly owned 22,741 shares of the company's stock, valued at approximately $1,225,512.49. This trade represents a 77.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Derek Gordon Schiller sold 175,395 shares of Atlanta Braves stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $53.20, for a total transaction of $9,331,014.00. Following the transaction, the executive vice president owned 316,908 shares of the company's stock, valued at $16,859,505.60. This represents a 35.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 5.40% of the company's stock.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of Atlanta Braves in a research report on Thursday, October 15th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Reduce".

About Atlanta Braves

Atlanta Braves Holdings, Inc owns and operates the Atlanta Braves, a Major League Baseball franchise based in Atlanta, Georgia. The organization's primary activities include professional baseball operations, game-day ticketing, premium seating, sponsorships, broadcasting and digital media, concessions, licensing, and the sale of team merchandise.

The company also owns and operates Truist Park, the Braves' home stadium, and The Battery Atlanta, a mixed-use development adjacent to the ballpark.

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