Atlanta Braves (NASDAQ:BATRK) Releases Earnings Results, Misses Estimates By $0.50 EPS

Atlanta Braves (NASDAQ:BATRK) released its quarterly earnings data on Wednesday. The financial services provider reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.50), Zacks reports. The business had revenue of $305.12 million for the quarter, compared to analysts’ expectations of $319.00 million.

Atlanta Braves Price Performance

NASDAQ BATRK opened at $48.81 on Friday. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of -48.33 and a beta of 0.68. Atlanta Braves has a one year low of $37.76 and a one year high of $53.25. The business’s fifty day moving average is $50.93 and its 200-day moving average is $46.83.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BATRK. Rosenblatt Securities decreased their target price on shares of Atlanta Braves from $75.00 to $73.00 and set a “buy” rating for the company in a research report on Friday. Zacks Research cut shares of Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Morgan Stanley lowered Atlanta Braves from an “overweight” rating to an “equal weight” rating and set a $54.00 price objective for the company. in a report on Wednesday, July 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Atlanta Braves in a research note on Wednesday, June 24th. Finally, Wall Street Zen upgraded Atlanta Braves from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. One research 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $63.50.

Institutional Trading of Atlanta Braves

A number of large investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC increased its stake in shares of Atlanta Braves by 956.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 697 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 631 shares during the last quarter. Advisory Services Network LLC bought a new position in Atlanta Braves during the third quarter valued at $34,000. Comerica Bank increased its position in Atlanta Braves by 44.8% in the first quarter. Comerica Bank now owns 1,031 shares of the financial services provider’s stock worth $41,000 after buying an additional 319 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Atlanta Braves in the fourth quarter valued at $51,000. Finally, Brown Brothers Harriman & Co. lifted its position in shares of Atlanta Braves by 72.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,426 shares of the financial services provider’s stock valued at $56,000 after buying an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 64.88% of the company’s stock.

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.