Atlanta Braves (NASDAQ:BATRK) Posts Earnings Results, Beats Estimates By $0.38 EPS

Atlanta Braves (NASDAQ:BATRK) announced its quarterly earnings data on Wednesday. The financial services provider reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.38, Zacks reports.

Atlanta Braves Trading Up 0.7%

BATRK traded up $0.32 during trading on Wednesday, hitting $43.45. The company’s stock had a trading volume of 163,032 shares, compared to its average volume of 351,155. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of -1,086.10 and a beta of 0.61. The business’s fifty day simple moving average is $40.33 and its 200 day simple moving average is $40.70. Atlanta Braves has a twelve month low of $35.46 and a twelve month high of $47.18.

Analysts Set New Price Targets

BATRK has been the topic of a number of recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Atlanta Braves in a report on Monday, December 29th. Wall Street Zen upgraded shares of Atlanta Braves from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. Zacks Research downgraded Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $69.00 price objective on shares of Atlanta Braves in a report on Tuesday, December 2nd. One 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $57.00.

Insider Transactions at Atlanta Braves

In other news, major shareholder John C. Malone acquired 35,000 shares of the stock in a transaction that occurred on Thursday, February 5th. The shares were bought at an average cost of $44.23 per share, for a total transaction of $1,548,050.00. Following the acquisition, the insider owned 521,862 shares in the company, valued at approximately $23,081,956.26. This represents a 7.19% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Hedge Funds Weigh In On Atlanta Braves

A number of institutional investors have recently added to or reduced their stakes in the stock. Hawk Ridge Capital Management LP raised its position in shares of Atlanta Braves by 16.5% during the 4th quarter. Hawk Ridge Capital Management LP now owns 2,661,429 shares of the financial services provider’s stock valued at $104,993,000 after buying an additional 377,307 shares during the period. Broad Bay Capital Management LP raised its position in Atlanta Braves by 11.9% in the fourth quarter. Broad Bay Capital Management LP now owns 2,202,745 shares of the financial services provider’s stock valued at $86,898,000 after purchasing an additional 233,771 shares during the period. CI Investments Inc. lifted its stake in shares of Atlanta Braves by 1.0% in the 4th quarter. CI Investments Inc. now owns 1,699,739 shares of the financial services provider’s stock valued at $67,055,000 after purchasing an additional 16,404 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Atlanta Braves by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 1,086,388 shares of the financial services provider’s stock worth $42,864,000 after purchasing an additional 2,944 shares during the period. Finally, State of Wisconsin Investment Board increased its position in shares of Atlanta Braves by 3.1% during the 4th quarter. State of Wisconsin Investment Board now owns 1,060,550 shares of the financial services provider’s stock worth $41,839,000 after purchasing an additional 31,692 shares during the last quarter. Hedge funds and other institutional investors own 64.88% of the company’s stock.

About Atlanta Braves

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.