Atlanta Braves (NASDAQ:BATRA) Announces Earnings Results, Beats Estimates By $0.09 EPS

Atlanta Braves (NASDAQ:BATRA) released its quarterly earnings results on Monday. The financial services provider reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.09, FiscalAI reports. Atlanta Braves had a positive return on equity of 0.25% and a negative net margin of 2.97%.The company had revenue of $72.01 million during the quarter, compared to analysts’ expectations of $68.69 million.

Atlanta Braves Price Performance

BATRA traded down $0.28 on Wednesday, reaching $53.94. 5,136 shares of the company’s stock were exchanged, compared to its average volume of 66,156. Atlanta Braves has a twelve month low of $41.50 and a twelve month high of $56.06. The stock has a market cap of $3.39 billion, a PE ratio of -149.94 and a beta of 0.68. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.42 and a quick ratio of 0.42. The stock’s fifty day moving average price is $49.89 and its 200-day moving average price is $45.81.

Analyst Ratings Changes

A number of analysts have recently commented on BATRA shares. Zacks Research cut Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Atlanta Braves in a research report on Monday, April 20th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $45.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its holdings in shares of Atlanta Braves by 1,873.1% in the second quarter. EverSource Wealth Advisors LLC now owns 513 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 487 shares during the last quarter. State of Wyoming acquired a new position in Atlanta Braves during the second quarter worth $70,000. Quarry LP acquired a new position in Atlanta Braves during the third quarter worth $74,000. CIBC Private Wealth Group LLC grew its holdings in Atlanta Braves by 145.5% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,726 shares of the financial services provider’s stock valued at $78,000 after buying an additional 1,023 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in Atlanta Braves by 59.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,803 shares of the financial services provider’s stock valued at $82,000 after buying an additional 673 shares in the last quarter. 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.