Atlanta Braves (NASDAQ:BATRA) Announces Quarterly Earnings Results

Atlanta Braves (NASDAQ:BATRA) announced 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 firm had revenue of $305.12 million during the quarter, compared to analysts’ expectations of $317.09 million.

Atlanta Braves Trading Down 4.8%

Shares of BATRA stock traded down $2.65 during trading hours on Wednesday, hitting $52.16. 163,745 shares of the company were exchanged, compared to its average volume of 63,033. The firm has a market cap of $3.28 billion, a PE ratio of -144.88 and a beta of 0.64. Atlanta Braves has a 1 year low of $41.50 and a 1 year high of $58.37. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 1.12. The firm has a fifty day moving average of $55.34 and a 200 day moving average of $51.01.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Zacks Research downgraded shares of Atlanta Braves from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Atlanta Braves in a research report on Friday, July 17th. One equities research 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 presently has an average rating of “Reduce”.

Hedge Funds Weigh In On Atlanta Braves

A number of hedge funds have recently made changes to their positions in BATRA. EverSource Wealth Advisors LLC increased its holdings in shares of Atlanta Braves by 1,873.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 513 shares of the financial services provider’s stock worth $25,000 after buying an additional 487 shares during the last quarter. State of Wyoming acquired a new position in Atlanta Braves in the second quarter valued at $70,000. Quarry LP purchased a new stake in Atlanta Braves during the third quarter valued at about $74,000. CIBC Private Wealth Group LLC increased its stake in Atlanta Braves by 145.5% during the third quarter. CIBC Private Wealth Group LLC now owns 1,726 shares of the financial services provider’s stock worth $78,000 after acquiring an additional 1,023 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Atlanta Braves by 59.6% during the third quarter. Russell Investments Group Ltd. now owns 1,803 shares of the financial services provider’s stock worth $82,000 after acquiring an additional 673 shares during the last quarter. Institutional investors and hedge funds own 12.31% of the company’s stock.

About Atlanta Braves

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.