Atlanta Braves (NASDAQ:BATRA) Announces Quarterly Earnings Results

Atlanta Braves (NASDAQ:BATRA) posted its quarterly earnings results on Wednesday. The financial services provider reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.48), FiscalAI reports. Atlanta Braves had a negative net margin of 2.97% and a positive return on equity of 0.25%. The business had revenue of $305.12 million during the quarter, compared to the consensus estimate of $317.09 million.

Atlanta Braves Stock Performance

Shares of NASDAQ BATRA traded up $0.58 during midday trading on Thursday, hitting $53.37. The company’s stock had a trading volume of 4,816 shares, compared to its average volume of 62,951. The stock has a fifty day moving average price of $55.31 and a 200 day moving average price of $51.08. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 1.12. Atlanta Braves has a one year low of $41.50 and a one year high of $58.37. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of -149.18 and a beta of 0.64.

Analyst Ratings Changes

A number of brokerages have weighed in on BATRA. Zacks Research lowered shares of Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Atlanta Braves in a report on Friday, July 17th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce”.

Hedge Funds Weigh In On Atlanta Braves

A number of large investors have recently modified their holdings of the company. Corient Private Wealth LLC boosted its holdings in Atlanta Braves by 4.0% in the 4th quarter. Corient Private Wealth LLC now owns 5,417 shares of the financial services provider’s stock valued at $230,000 after purchasing an additional 206 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in Atlanta Braves by 42.8% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 7,624 shares of the financial services provider’s stock valued at $324,000 after acquiring an additional 2,286 shares during the period. Susquehanna Portfolio Strategies LLC purchased a new position in shares of Atlanta Braves in the fourth quarter worth $318,000. Balyasny Asset Management L.P. increased its position in shares of Atlanta Braves by 1.9% in the fourth quarter. Balyasny Asset Management L.P. now owns 27,650 shares of the financial services provider’s stock valued at $1,175,000 after acquiring an additional 512 shares during the period. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Atlanta Braves in the 4th quarter worth approximately $201,000. 12.31% of the stock is currently owned by institutional investors.

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.