Mercer Global Advisors Inc. ADV Takes Position in International Speedway Corp (ISCA)
Mercer Global Advisors Inc. ADV purchased a new stake in shares of International Speedway Corp (NASDAQ:ISCA) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,801 shares of the company’s stock, valued at approximately $254,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ISCA. BlackRock Inc. increased its holdings in shares of International Speedway by 3.3% in the fourth quarter. BlackRock Inc. now owns 2,826,035 shares of the company’s stock worth $123,950,000 after buying an additional 90,000 shares during the period. Vanguard Group Inc. increased its holdings in shares of International Speedway by 1.8% in the third quarter. Vanguard Group Inc. now owns 2,303,698 shares of the company’s stock worth $100,902,000 after buying an additional 41,225 shares during the period. Vanguard Group Inc increased its holdings in shares of International Speedway by 1.8% in the third quarter. Vanguard Group Inc now owns 2,303,698 shares of the company’s stock worth $100,902,000 after buying an additional 41,225 shares during the period. Norges Bank purchased a new position in shares of International Speedway in the fourth quarter worth about $24,474,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of International Speedway by 7.1% in the third quarter. Bank of New York Mellon Corp now owns 370,878 shares of the company’s stock worth $16,245,000 after buying an additional 24,472 shares during the period. Institutional investors and hedge funds own 50.62% of the company’s stock.
ISCA opened at $43.24 on Tuesday. The stock has a market capitalization of $1.87 billion, a PE ratio of 23.37, a P/E/G ratio of 7.23 and a beta of 0.87. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.15. International Speedway Corp has a 12 month low of $35.12 and a 12 month high of $49.95.
The firm also recently announced an annual dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be paid a $0.49 dividend. The ex-dividend date is Thursday, May 30th. This is a boost from International Speedway’s previous annual dividend of $0.47. This represents a dividend yield of 1.13%. International Speedway’s dividend payout ratio (DPR) is presently 25.41%.
Several research firms have recently commented on ISCA. ValuEngine downgraded International Speedway from a “buy” rating to a “hold” rating in a report on Tuesday, February 5th. Zacks Investment Research downgraded International Speedway from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 30th. Finally, BidaskClub downgraded International Speedway from a “sell” rating to a “strong sell” rating in a report on Saturday, February 2nd. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The company has an average rating of “Hold” and an average price target of $26.00.
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International Speedway Profile
International Speedway Corporation, together with its subsidiaries, promotes motorsports themed entertainment activities in the United States. Its motorsports themed event operations consist principally of racing events at its motorsports entertainment facilities, which promote approximately 100 stock car, open wheel, sports car, truck, motorcycle, and other racing events.
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