Atlanta Braves (NASDAQ:BATRK) Posts Quarterly Earnings Results

Atlanta Braves (NASDAQ:BATRK) released its quarterly earnings data on Wednesday. The financial services provider reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.33), Zacks reports. The company had revenue of $324.63 million during the quarter, compared to the consensus estimate of $348.00 million.

Atlanta Braves Price Performance

Shares of Atlanta Braves stock traded down $0.01 during trading on Friday, hitting $50.09. 155,336 shares of the company’s stock traded hands, compared to its average volume of 454,387. The business has a 50-day simple moving average of $51.03 and a 200-day simple moving average of $48.26. The stock has a market capitalization of $2.65 billion, a P/E ratio of -37.73 and a beta of 0.67. Atlanta Braves has a 1 year low of $37.76 and a 1 year high of $54.86.

Insider Activity

In related news, EVP Derek Schiller sold 175,395 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president owned 316,908 shares in the company, valued at approximately $16,859,505.60. This trade represents a 35.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gregory Heller sold 80,263 shares of the company’s stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of $53.89, for a total transaction of $4,325,373.07. Following the transaction, the executive vice president owned 22,741 shares of the company’s stock, valued at approximately $1,225,512.49. This represents a 77.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 11.43% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on BATRK. Morgan Stanley lowered Atlanta Braves from an “overweight” rating to an “equal weight” rating and set a $54.00 price target for the company. in a research note on Wednesday, July 15th. Rosenblatt Securities decreased their price objective on Atlanta Braves from $75.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Atlanta Braves in a research report on Monday, September 21st. Finally, Wall Street Zen downgraded shares of Atlanta Braves from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $63.50.

About Atlanta Braves

Atlanta Braves Holdings, Inc owns and operates the Atlanta Braves, a Major League Baseball franchise based in Atlanta, Georgia. The organization generates revenue through professional baseball operations, including ticket sales, sponsorships, broadcasting and media rights, licensing, concessions, premium seating and hospitality.

The Braves play their home games at Truist Park, which opened in 2017 in Cobb County, northwest of downtown Atlanta. The surrounding Battery Atlanta development provides additional dining, retail, entertainment, office and residential offerings, as well as event and hospitality services, supporting the company’s broader sports and mixed-use real estate activities.

The franchise traces its history to 1871 and has operated in Atlanta since 1966, following earlier periods in Boston and Milwaukee.