Atlanta Braves Series C
Runs the Braves, Truist Park, BravesVision, and The Battery Atlanta real estate.
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Profile
Owns the Atlanta Braves, operates Truist Park, and leases office and retail space at The Battery Atlanta. Baseball events, BravesVision, national media rights, sponsorships, merchandise, and year-round real estate income drive the business, while results remain tied to team performance, MLB economics, and tenant demand.
Owns the Atlanta Braves Major League Baseball club and operates Truist Park through its Baseball segment. Revenue comes from tickets, concessions, suites and premium seating, sponsorships, retail and licensing, shared MLB streams, and media rights. BravesVision brings local television production, sales, and distribution in-house.
Around the ballpark, The Battery Atlanta adds year-round office and retail rent, tenant reimbursements, parking income, and sponsorships, alongside hotel and entertainment operations. This pairing extends the venue economy beyond home games and into recurring commercial leases.
Results remain tied to team performance, attendance, the seasonal baseball calendar, player-development and salary decisions, MLB rules and revenue sharing, media distribution, and leasing demand. Series C shares generally carry no voting rights.
Company facts
Key statistics
Year to date +26.9% · Average volume (30d) 544.5K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 15, 2026 | Morgan Stanley | Downgrade | Equal-Weight | Underweight | $45 | $54 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | $0.31 | −$0.19 | −161.3% | $319.0M | $305.1M | −4.4% | −2.83% |
| May 11, 2026Q1 FY26 | −$0.83 | −$0.63 | +24.1% | $64.6M | $72.0M | +11.5% | −1.39% |
| Feb 25, 2026Q4 FY25 | −$0.66 | −$0.28 | +57.6% | $52.7M | $61.3M | +16.4% | +0.34% |
| Nov 5, 2025Q3 FY25 | $0.24 | $0.47 | +95.8% | $54.9M | $1.09B | +1,875.1% | −3.19% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $47.2M | $312.4M | $311.5M | $61.3M | $72.0M | $305.1M | |
| Gross profit | −$17.2M | $76.7M | $73.7M | $12.3M | −$6.0M | $48.5M | |
| Operating income | −$44.5M | $41.8M | $38.9M | −$19.7M | −$41.3M | −$18.5M | |
| Net income | −$41.4M | $29.5M | $30.0M | −$41.4M | −$40.5M | −$12.2M | |
| Diluted EPS | −$0.66 | $0.46 | $0.47 | −$0.65 | −$0.63 | −$0.19 | |
| Gross margin | -36.5% | 24.6% | 23.7% | 20.1% | -8.3% | 15.9% | |
| Operating margin | -94.2% | 13.4% | 12.5% | -32.1% | -57.3% | -6.1% |
Fiscal years (4-quarter sums)FY21 $563.7M · FY22 $588.6M · FY23 $640.7M · FY24 $662.7M · FY25 $732.5M
Revenue by product · Q2 FY26
Revenue by geography · FY24
Balance sheet, Jun 30, 2026Cash & short-term investments $116.3M · Total debt $889.8M · Total assets $1.74B · Shareholders' equity $514.3M
Dividends
No dividends on record.
Ownership
Shares outstanding 63.59M · Float 58.40M
This issuer lists more than one class and the share count spans them all, so a stake here reads as a share of the whole company, not of this class.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % of company | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 3.89M | 6.11% | 13F | Aug 7, 2026 |
| Malone John C · 10 percent owner | 2.78M | 4.38% | Form 4 | Feb 27, 2026 |
| Vanguard Capital Management LLC | 2.16M | 3.39% | 13F | Aug 13, 2026 |
| Broad Bay Capital Management, LP | 2.05M | 3.22% | 13F | Aug 14, 2026 |
| Hawk Ridge Capital Management LP | 1.98M | 3.11% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 19, 2026 | Jill L. Robinson | officer: EVP, CFO & Treasurer | −30,263 | $52.84 |
| Feb 25, 2026 | John C. Malone | 10 percent owner | +10,868 | $58.00 |
| Feb 25, 2026 | John C. Malone | 10 percent owner | −14,614 | $43.13 |
| Feb 13, 2026 | Jill L. Robinson | officer: EVP, CFO & Treasurer | −60,000 | $42.00 |
| Feb 2, 2026 | Jill L. Robinson | officer: EVP, CFO & Treasurer | −20,000 | $40.00 |
Peers
- Madison Square Garden Sports
Public team owner with matching tickets, suites, sponsorship, media rights
- Rogers Communications
Public MLB owner and sports-media operator through Blue Jays and Sportsnet
- Manchester United
Listed club model across matchday, broadcast, sponsor, and retail
- TKO Group
Premium sports entertainment rival for media, live events, and sponsors
- Formula One Group Series C
Sports-rights platform competing for media, sponsors, and event spend
- Live Nation Entertainment
Live-event giant competing for attendance, ticketing, and sponsors
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Atlanta Braves Series C | $50.55 | −0.04% | $3.21B | — | — | 2.6 | −2.3% |
| Madison Square Garden Sports | $388.96 | −0.09% | $9.37B | 1,216.7 | — | 8.1 | +36.7% |
| Rogers Communications | $36.69 | +0.25% | $19.77B | 4.3 | 14.7 | 1.2 | +3.3% |
| Manchester United | $22.10 | −0.05% | $3.81B | — | — | 4.2 | +20.9% |
| TKO Group | $185.76 | +0.63% | $13.84B | 63.7 | 33.1 | 2.6 | +18.2% |
| Formula One Group Series C | $101.80 | +0.03% | $25.51B | 55.3 | 47.8 | 5.4 | −30.4% |
| Live Nation Entertainment | $181.50 | −0.07% | $42.27B | — | 151.4 | 1.6 | +9.4% |
| Median | 59.5 | 40.5 | 3.4 | +13.8% |