Atlanta Braves (BATRK) Expected to Announce Quarterly Earnings on Wednesday

Atlanta Braves (NASDAQ:BATRK) is expected to be issuing its results before the market opens on Wednesday, February 25th. Analysts expect the company to announce earnings of ($0.66) per share and revenue of $54.9340 million for the quarter.

Atlanta Braves Trading Down 0.8%

Shares of BATRK opened at $42.77 on Tuesday. The firm’s fifty day simple moving average is $40.26 and its 200-day simple moving average is $40.70. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of -1,068.98 and a beta of 0.61. Atlanta Braves has a twelve month low of $35.46 and a twelve month high of $47.18.

Analyst Ratings Changes

Several brokerages have weighed in on BATRK. Wall Street Zen upgraded shares of Atlanta Braves from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Atlanta Braves in a report on Monday, December 29th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $69.00 price objective on shares of Atlanta Braves in a report on Tuesday, December 2nd. Finally, Zacks Research cut Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $57.00.

Insider Buying and Selling

In other news, major shareholder John C. Malone bought 35,000 shares of Atlanta Braves stock in a transaction that occurred on Thursday, February 5th. The shares were purchased at an average price of $44.23 per share, for a total transaction of $1,548,050.00. Following the completion of the acquisition, the insider owned 521,862 shares of the company’s stock, valued at $23,081,956.26. The trade was a 7.19% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Investors Weigh In On Atlanta Braves

Large investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its stake in Atlanta Braves by 956.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 697 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 631 shares during the period. Advisory Services Network LLC acquired a new position in shares of Atlanta Braves during the third quarter worth approximately $34,000. Comerica Bank grew its holdings in Atlanta Braves by 44.8% in the 1st quarter. Comerica Bank now owns 1,031 shares of the financial services provider’s stock worth $41,000 after buying an additional 319 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in Atlanta Braves in the 4th quarter valued at approximately $51,000. Finally, Brown Brothers Harriman & Co. increased its position in Atlanta Braves by 72.6% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,426 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 600 shares during the period. 64.88% of the stock is owned by institutional investors and hedge funds.

About Atlanta Braves

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.