Balter Liquid Alternatives LLC increased its stake in Speedway Motorsports, Inc. (NYSE:TRK) by 203.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,465 shares of the company’s stock after purchasing an additional 27,116 shares during the quarter. Balter Liquid Alternatives LLC’s holdings in Speedway Motorsports were worth $701,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of TRK. KBC Group NV boosted its stake in shares of Speedway Motorsports by 153.2% during the 1st quarter. KBC Group NV now owns 5,822 shares of the company’s stock worth $104,000 after acquiring an additional 3,523 shares during the last quarter. MetLife Investment Advisors LLC purchased a new position in shares of Speedway Motorsports during the 4th quarter worth $134,000. Bailard Inc. purchased a new position in shares of Speedway Motorsports during the 1st quarter worth $201,000. Wells Fargo & Company MN boosted its stake in shares of Speedway Motorsports by 47.8% during the 4th quarter. Wells Fargo & Company MN now owns 17,216 shares of the company’s stock worth $325,000 after acquiring an additional 5,569 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Speedway Motorsports by 73.9% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,525 shares of the company’s stock worth $356,000 after acquiring an additional 8,725 shares during the last quarter. Institutional investors own 21.63% of the company’s stock.

Several analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Speedway Motorsports from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 28th. ValuEngine upgraded shares of Speedway Motorsports from a “sell” rating to a “hold” rating in a research report on Thursday, July 5th.

Shares of TRK stock opened at $18.00 on Friday. The firm has a market cap of $719.41 million, a PE ratio of 19.91, a PEG ratio of 2.99 and a beta of 1.00. Speedway Motorsports, Inc. has a one year low of $16.46 and a one year high of $23.47. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 1.32.

Speedway Motorsports (NYSE:TRK) last announced its quarterly earnings data on Wednesday, August 1st. The company reported $0.75 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by ($0.04). The firm had revenue of $165.85 million for the quarter, compared to the consensus estimate of $178.21 million. Speedway Motorsports had a net margin of 33.47% and a return on equity of 4.07%. equities analysts forecast that Speedway Motorsports, Inc. will post 1.07 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 5th. Stockholders of record on Wednesday, August 15th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, August 14th. This represents a $0.60 annualized dividend and a dividend yield of 3.33%. Speedway Motorsports’s payout ratio is 65.93%.

Speedway Motorsports Company Profile

Speedway Motorsports, Inc, through its subsidiaries, promotes, markets, and sponsors motorsports activities in the United States. The company owns and operates eight racing facilities, including Atlanta Motor Speedway, Bristol Motor Speedway, Charlotte Motor Speedway, Kentucky Speedway, Las Vegas Motor Speedway, New Hampshire Motor Speedway, Sonoma Raceway, and Texas Motor Speedway racing facilities.

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Institutional Ownership by Quarter for Speedway Motorsports (NYSE:TRK)

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