Atlanta Braves (NASDAQ:BATRA) Announces Earnings Results

Atlanta Braves (NASDAQ:BATRA - Get Free Report) announced its quarterly earnings results on Wednesday. The financial services provider reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.78) by $0.47, Zacks reports. Atlanta Braves had a negative return on equity of 8.48% and a negative net margin of 6.56%. The firm had revenue of $52.12 million during the quarter, compared to the consensus estimate of $48.20 million.

Atlanta Braves Stock Up 2.1 %

Shares of Atlanta Braves stock traded up $0.90 during trading hours on Friday, hitting $44.13. 45,284 shares of the company's stock traded hands, compared to its average volume of 51,946. The stock has a 50 day simple moving average of $41.86 and a 200-day simple moving average of $42.61. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.12. The company has a market cap of $2.73 billion, a PE ratio of -60.45 and a beta of 0.80. Atlanta Braves has a twelve month low of $38.90 and a twelve month high of $46.65.

Insider Activity

In other Atlanta Braves news, major shareholder John C. Malone bought 15,192 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was bought at an average cost of $40.62 per share, for a total transaction of $617,099.04. Following the completion of the purchase, the insider now directly owns 146,020 shares of the company's stock, valued at approximately $5,931,332.40. The trade was a 11.61 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders acquired 44,932 shares of company stock worth $1,864,395 over the last ninety days. Corporate insiders own 4.83% of the company's stock.

Wall Street Analyst Weigh In

Separately, Benchmark reiterated a "buy" rating and issued a $60.00 price target on shares of Atlanta Braves in a report on Thursday.

About Atlanta Braves

Atlanta Braves Holdings, Inc owns and operates the Atlanta Braves Major league baseball club. It also operates mixed-use development project, including retail, office, hotel, and entertainment projects. The company was incorporated in 2022 and is based in Englewood, Colorado.