Atlanta Braves (NASDAQ:BATRK) Issues Quarterly Earnings Results

Key Points

• Atlanta Braves reported quarterly EPS of $0.15, missing the $0.48 consensus estimate by $0.33.
• The stock fell 1.4% to $51.03; analysts’ consensus rating was Hold, with an average price target of $63.50.
• Two executives sold shares under pre-arranged Rule 10b5-1 plans: Gregory Heller sold about $4.3 million worth and Derek Schiller about $9.3 million worth.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) issued its earnings results on Wednesday. The financial services provider reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.33), Zacks reports.

Atlanta Braves Stock Down 1.4%

BATRK traded down $0.70 during trading on Wednesday, hitting $51.03. The company's stock had a trading volume of 379,269 shares, compared to its average volume of 453,491. The firm has a market cap of $2.70 billion, a PE ratio of -50.65 and a beta of 0.67. Atlanta Braves has a one year low of $37.76 and a one year high of $54.86. The business's 50 day simple moving average is $51.10 and its 200-day simple moving average is $48.16.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Morgan Stanley cut Atlanta Braves from an "overweight" rating to an "equal weight" rating and set a $54.00 target price on the stock. in a research note on Wednesday, July 15th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Atlanta Braves in a research note on Monday, September 21st. Wall Street Zen lowered Atlanta Braves from a "hold" rating to a "strong sell" rating in a research report on Saturday, August 8th. Finally, Rosenblatt Securities lowered their price objective on Atlanta Braves from $75.00 to $73.00 and set a "buy" rating on the stock in a research report on Friday, August 7th. One investment 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, Atlanta Braves has a consensus rating of "Hold" and an average price target of $63.50.

Insider Transactions at Atlanta Braves

In related news, EVP Gregory Heller sold 80,263 shares of the company'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 completion of the transaction, the executive vice president owned 22,741 shares of the company's stock, valued at approximately $1,225,512.49. This represents a 77.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Derek Schiller sold 175,395 shares of Atlanta Braves stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $53.20, for a total value of $9,331,014.00. Following the sale, the executive vice president directly owned 316,908 shares in the company, valued at $16,859,505.60. This trade represents a 35.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Atlanta Braves Company Profile

Atlanta Braves Holdings, Inc owns and operates the Atlanta Braves, a Major League Baseball franchise based in Atlanta, Georgia. The organization generates revenue through professional baseball operations, including ticket sales, sponsorships, broadcasting and media rights, licensing, concessions, premium seating and hospitality.

The Braves play their home games at Truist Park, which opened in 2017 in Cobb County, northwest of downtown Atlanta. The surrounding Battery Atlanta development provides additional dining, retail, entertainment, office and residential offerings, as well as event and hospitality services, supporting the company's broader sports and mixed-use real estate activities.

The franchise traces its history to 1871 and has operated in Atlanta since 1966, following earlier periods in Boston and Milwaukee.

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