First Quadrant L P CA lifted its holdings in Speedway Motorsports, Inc. (NYSE:TRK) by 20.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,410 shares of the company’s stock after acquiring an additional 5,391 shares during the quarter. First Quadrant L P CA owned approximately 0.08% of Speedway Motorsports worth $690,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in TRK. Bank of New York Mellon Corp boosted its holdings in shares of Speedway Motorsports by 3.7% in the 1st quarter. Bank of New York Mellon Corp now owns 209,251 shares of the company’s stock worth $3,942,000 after acquiring an additional 7,454 shares in the last quarter. American International Group Inc. boosted its holdings in shares of Speedway Motorsports by 7.4% in the 1st quarter. American International Group Inc. now owns 7,255 shares of the company’s stock worth $137,000 after acquiring an additional 498 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Speedway Motorsports by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 973,947 shares of the company’s stock worth $18,349,000 after acquiring an additional 37,153 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Speedway Motorsports by 3.5% in the 1st quarter. Geode Capital Management LLC now owns 98,045 shares of the company’s stock worth $1,847,000 after acquiring an additional 3,270 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Speedway Motorsports by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,131,843 shares of the company’s stock worth $59,004,000 after acquiring an additional 24,655 shares in the last quarter. 21.70% of the stock is currently owned by institutional investors and hedge funds.
Speedway Motorsports, Inc. (NYSE:TRK) opened at $19.37 on Tuesday. Speedway Motorsports, Inc. has a 1-year low of $16.80 and a 1-year high of $23.47. The company has a current ratio of 1.42, a quick ratio of 1.33 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $803.78, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 10.01 and a beta of 0.89.
Speedway Motorsports (NYSE:TRK) last posted its quarterly earnings data on Wednesday, October 25th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.06). The firm had revenue of $137.61 million for the quarter, compared to analyst estimates of $141.79 million. Speedway Motorsports had a return on equity of 4.79% and a net margin of 7.26%. equities analysts expect that Speedway Motorsports, Inc. will post 0.98 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 10th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Thursday, November 9th. Speedway Motorsports’s payout ratio is 70.59%.
Several research analysts have recently commented on TRK shares. Zacks Investment Research raised Speedway Motorsports from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a report on Saturday, October 28th. BidaskClub raised Speedway Motorsports from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Finally, TheStreet raised Speedway Motorsports from a “c+” rating to a “b” rating in a report on Wednesday, July 26th.
In other Speedway Motorsports news, Director Mark M. Gambill sold 12,000 shares of the company’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $20.00, for a total transaction of $240,000.00. Following the completion of the sale, the director now owns 40,428 shares in the company, valued at approximately $808,560. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 72.00% of the company’s stock.
Speedway Motorsports Company Profile
Speedway Motorsports, Inc (SMI), through its operating subsidiaries, is a promoter, marketer and sponsor of motorsports activities in the United States. The Company’s operations consist of promoting, marketing and sponsoring motorsports racing events, merchandising and other related activities conducted at its various speedway facilities located in the United States.
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