Atlanta Braves (NASDAQ:BATRK) Issues Quarterly Earnings Results, Beats Estimates By $0.20 EPS

by · The Cerbat Gem

Atlanta Braves (NASDAQ:BATRK – Get Free Report) posted its quarterly earnings data on Monday. The financial services provider reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.20, Zacks reports. The company had revenue of $72.01 million for the quarter, compared to analyst estimates of $64.60 million.

Atlanta Braves Stock Performance

Shares of BATRK traded up $0.05 during trading hours on Wednesday, hitting $49.57. The stock had a trading volume of 22,275 shares, compared to its average volume of 365,005. Atlanta Braves has a 12-month low of $37.76 and a 12-month high of $52.05. The firm has a market cap of $2.61 billion, a P/E ratio of -138.17 and a beta of 0.73. The company’s fifty day simple moving average is $45.33 and its 200 day simple moving average is $41.86.

Institutional Investors Weigh In On Atlanta Braves

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Zacks Research lowered Atlanta Braves from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Atlanta Braves in a research report on Friday, March 27th. Wall Street Zen cut shares of Atlanta Braves from a “hold” rating to a “sell” rating in a research note on Sunday, April 12th. Finally, Rosenblatt Securities increased their price target on shares of Atlanta Braves from $69.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. One 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $60.00.

View Our Latest Stock Report on Atlanta Braves

Atlanta Braves Company Profile

(Get Free Report)

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.

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