Atlanta Braves (NASDAQ:BATRK – Get Free Report) posted its quarterly earnings data on Monday. The financial services provider reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.83) by $0.20, Zacks reports.
Atlanta Braves Trading Down 2.6%
Shares of Atlanta Braves stock traded down $1.30 during trading hours on Monday, hitting $49.37. 228,321 shares of the company were exchanged, compared to its average volume of 364,342. Atlanta Braves has a 1 year low of $37.76 and a 1 year high of $52.05. The business has a 50-day moving average of $44.95 and a 200-day moving average of $41.64. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of -126.59 and a beta of 0.73.
Wall Street Analysts Forecast Growth
BATRK has been the subject of several analyst reports. Rosenblatt Securities upped their price target on Atlanta Braves from $69.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. Zacks Research cut Atlanta Braves from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Atlanta Braves in a research note on Friday, March 27th. Finally, Wall Street Zen cut Atlanta Braves from a “hold” rating to a “sell” rating in a research note on Sunday, April 12th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Atlanta Braves currently has an average rating of “Hold” and an average target price of $60.00.
Institutional Investors Weigh In On Atlanta Braves
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Hawk Ridge Capital Management LP increased its position in shares of Atlanta Braves by 16.5% in the fourth quarter. Hawk Ridge Capital Management LP now owns 2,661,429 shares of the financial services provider’s stock valued at $104,993,000 after buying an additional 377,307 shares in the last quarter. Broad Bay Capital Management LP increased its position in shares of Atlanta Braves by 11.9% in the fourth quarter. Broad Bay Capital Management LP now owns 2,202,745 shares of the financial services provider’s stock valued at $86,898,000 after buying an additional 233,771 shares in the last quarter. CI Investments Inc. increased its position in shares of Atlanta Braves by 1.0% in the fourth quarter. CI Investments Inc. now owns 1,699,739 shares of the financial services provider’s stock valued at $67,055,000 after buying an additional 16,404 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Atlanta Braves by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 1,086,388 shares of the financial services provider’s stock valued at $42,864,000 after buying an additional 2,944 shares in the last quarter. Finally, State of Wisconsin Investment Board increased its position in shares of Atlanta Braves by 3.1% in the fourth quarter. State of Wisconsin Investment Board now owns 1,060,550 shares of the financial services provider’s stock valued at $41,839,000 after buying an additional 31,692 shares in the last quarter. Institutional investors and hedge funds 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.
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