Atlanta Braves (NASDAQ:BATRA) Issues Earnings Results

Atlanta Braves (NASDAQ:BATRA) released its earnings results on Wednesday. The financial services provider reported ($0.66) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.08, FiscalAI reports. The firm had revenue of $61.30 million during the quarter, compared to analysts’ expectations of $54.93 million. Atlanta Braves had a negative return on equity of 0.19% and a negative net margin of 0.14%.

Atlanta Braves Stock Up 0.5%

Shares of NASDAQ:BATRA traded up $0.24 during trading on Wednesday, hitting $47.68. 30,748 shares of the company were exchanged, compared to its average volume of 67,438. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of -1,190.95 and a beta of 0.63. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.32. Atlanta Braves has a fifty-two week low of $38.67 and a fifty-two week high of $50.50. The firm has a fifty day moving average price of $43.96 and a two-hundred day moving average price of $44.19.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Zacks Research downgraded Atlanta Braves from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Atlanta Braves in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Atlanta Braves has an average rating of “Hold” and an average target price of $52.50.

Insiders Place Their Bets

In other news, major shareholder John C. Malone bought 35,000 shares of the stock in a transaction that occurred on Thursday, February 5th. The shares were acquired at an average cost of $44.23 per share, for a total transaction of $1,548,050.00. Following the completion of 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC acquired a new position in Atlanta Braves in the 1st quarter valued at $211,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Atlanta Braves by 4.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,061 shares of the financial services provider’s stock valued at $266,000 after acquiring an additional 234 shares in the last quarter. Jane Street Group LLC bought a new position in Atlanta Braves during the first quarter worth about $385,000. Legal & General Group Plc raised its stake in Atlanta Braves by 8.3% in the 2nd quarter. Legal & General Group Plc now owns 8,007 shares of the financial services provider’s stock worth $394,000 after purchasing an additional 614 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Atlanta Braves by 1,873.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 513 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 487 shares in the last quarter. Institutional investors own 12.31% of the company’s stock.

About Atlanta Braves

The Atlanta Braves (NASDAQ: BATRA) are a professional baseball club that competes in Major League Baseball’s National League East division. Founded in 1871 as the Boston Red Stockings, the franchise relocated to Milwaukee in 1953 before settling in Atlanta in 1966. As one of MLB’s oldest and most storied organizations, the Braves are responsible for fielding a Major League team, overseeing player development through a network of minor league affiliates, and managing baseball operations under the leadership of President of Baseball Operations Alex Anthopoulos.

Beyond on?field performance, the Braves operate a diversified sports and entertainment business.