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

Atlanta Braves (NASDAQ:BATRK) announced its quarterly earnings data on Monday. The financial services provider reported ($0.63) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.20, Zacks reports.

Atlanta Braves Price Performance

Atlanta Braves stock traded down $1.58 during trading hours on Monday, reaching $49.09. The company had a trading volume of 212,940 shares, compared to its average volume of 364,169. The company has a 50-day moving average price of $44.95 and a 200 day moving average price of $41.64. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of -125.85 and a beta of 0.73. Atlanta Braves has a 12-month low of $37.76 and a 12-month high of $52.05.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on BATRK shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Atlanta Braves in a report on Friday, March 27th. Rosenblatt Securities raised their price objective on Atlanta Braves from $69.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Zacks Research cut Atlanta Braves from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, Wall Street Zen cut Atlanta Braves from a “hold” rating to a “sell” rating in a report on Sunday, April 12th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $60.00.

Hedge Funds Weigh In On Atlanta Braves

A number of large investors have recently bought and sold shares of BATRK. Comerica Bank increased its stake 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 purchasing an additional 319 shares during the period. AQR Capital Management LLC purchased a new position in Atlanta Braves in the 1st quarter worth approximately $382,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Atlanta Braves by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,839 shares of the financial services provider’s stock worth $1,194,000 after purchasing an additional 1,302 shares during the period. Jones Financial Companies Lllp increased its stake in Atlanta Braves by 12,972.7% in the 1st quarter. Jones Financial Companies Lllp now owns 18,694 shares of the financial services provider’s stock worth $748,000 after purchasing an additional 18,551 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in shares of Atlanta Braves by 8.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 269,383 shares of the financial services provider’s stock worth $10,778,000 after buying an additional 21,883 shares during the last quarter. 64.88% of the stock is owned by hedge funds and other institutional investors.

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.