Atlanta Braves (NASDAQ:BATRA) Issues Quarterly Earnings Results

Atlanta Braves (NASDAQ:BATRA) issued its quarterly earnings results on Wednesday. The financial services provider reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.74) by $0.46, Zacks reports. The company had revenue of $61.30 million for the quarter, compared to the consensus estimate of $54.93 million. Atlanta Braves had a negative net margin of 0.14% and a negative return on equity of 0.19%.

Atlanta Braves Stock Performance

Shares of NASDAQ BATRA traded down $0.22 during mid-day trading on Thursday, hitting $48.54. 19,038 shares of the company were exchanged, compared to its average volume of 67,418. The stock has a 50 day simple moving average of $44.06 and a 200-day simple moving average of $44.22. Atlanta Braves has a 1-year low of $38.67 and a 1-year high of $50.50. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.32. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of -1,218.97 and a beta of 0.63.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on BATRA shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Atlanta Braves in a research report on Wednesday, January 21st. Zacks Research cut Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company 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 purchased 35,000 shares of the business’s stock in a transaction dated Thursday, February 5th. The stock was acquired at an average price of $44.23 per share, with a total value of $1,548,050.00. Following the purchase, the insider directly owned 521,862 shares of the company’s stock, valued at $23,081,956.26. This represents a 7.19% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 5.90% of the company’s stock.

Institutional Trading of Atlanta Braves

Several institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC raised its stake in shares of Atlanta Braves by 1,873.1% during the second quarter. EverSource Wealth Advisors LLC now owns 513 shares of the financial services provider’s stock worth $25,000 after buying an additional 487 shares during the last quarter. State of Wyoming bought a new stake in shares of Atlanta Braves during the second quarter worth approximately $70,000. Quarry LP acquired a new stake in Atlanta Braves during the 3rd quarter worth approximately $74,000. CIBC Private Wealth Group LLC lifted its holdings in shares of Atlanta Braves by 145.5% during the third quarter. CIBC Private Wealth Group LLC now owns 1,726 shares of the financial services provider’s stock worth $78,000 after buying an additional 1,023 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Atlanta Braves by 35.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,774 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 463 shares during the period. 12.31% of the stock is currently owned by institutional investors and hedge funds.

Atlanta Braves Company Profile

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.