Atlanta Braves (NASDAQ:BATRA) Releases Earnings Results, Misses Expectations By $0.36 EPS

Atlanta Braves (NASDAQ:BATRA) issued its quarterly earnings data on Wednesday. The financial services provider reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.36), FiscalAI reports. The firm had revenue of $324.63 million during the quarter, compared to analyst estimates of $347.36 million. Atlanta Braves had a negative return on equity of 7.45% and a negative net margin of 8.56%.

Atlanta Braves Stock Performance

NASDAQ BATRA traded down $0.90 during trading on Thursday, hitting $54.94. The company’s stock had a trading volume of 20,317 shares, compared to its average volume of 61,976. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.06. The firm has a 50 day moving average price of $56.21 and a 200 day moving average price of $52.71. The firm has a market cap of $3.46 billion, a P/E ratio of -54.49 and a beta of 0.64. Atlanta Braves has a 52 week low of $41.50 and a 52 week high of $60.48.

Insider Buying and Selling

In other news, EVP Gregory Heller sold 80,263 shares of the firm’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 sale, the executive vice president owned 22,741 shares in the company, valued at approximately $1,225,512.49. This trade represents a 77.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Derek Gordon Schiller sold 175,395 shares of the business’s stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $53.20, for a total transaction of $9,331,014.00. Following the transaction, 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. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Atlanta Braves in a report on Thursday, October 15th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce”.

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’s primary activities include professional baseball operations, game-day ticketing, premium seating, sponsorships, broadcasting and digital media, concessions, licensing, and the sale of team merchandise.

The company also owns and operates Truist Park, the Braves’ home stadium, and The Battery Atlanta, a mixed-use development adjacent to the ballpark.