Speedway Motorsports, Inc. (TRK) Stake Increased by potrero capital research llc
potrero capital research llc grew its stake in shares of Speedway Motorsports, Inc. (NYSE:TRK) by 9.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 288,622 shares of the company’s stock after acquiring an additional 23,767 shares during the period. Speedway Motorsports comprises approximately 4.9% of potrero capital research llc’s investment portfolio, making the stock its 5th biggest holding. potrero capital research llc owned approximately 0.70% of Speedway Motorsports worth $5,273,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. American International Group Inc. raised its stake in shares of Speedway Motorsports by 7.4% during the first quarter. American International Group Inc. now owns 7,255 shares of the company’s stock valued at $137,000 after acquiring an additional 498 shares in the last quarter. Spark Investment Management LLC bought a new stake in shares of Speedway Motorsports during the first quarter valued at approximately $194,000. Wells Fargo & Company MN raised its stake in shares of Speedway Motorsports by 2.2% during the second quarter. Wells Fargo & Company MN now owns 12,803 shares of the company’s stock valued at $234,000 after acquiring an additional 279 shares in the last quarter. Algert Global LLC raised its stake in shares of Speedway Motorsports by 16.0% during the second quarter. Algert Global LLC now owns 13,004 shares of the company’s stock valued at $238,000 after acquiring an additional 1,796 shares in the last quarter. Finally, Alambic Investment Management L.P. raised its stake in shares of Speedway Motorsports by 61.3% during the first quarter. Alambic Investment Management L.P. now owns 15,805 shares of the company’s stock valued at $298,000 after acquiring an additional 6,005 shares in the last quarter. 22.39% of the stock is owned by hedge funds and other institutional investors.
Speedway Motorsports, Inc. (TRK) traded up 2.65% during mid-day trading on Friday, hitting $20.53. 144,711 shares of the stock traded hands. Speedway Motorsports, Inc. has a 12 month low of $16.80 and a 12 month high of $22.29. The stock has a market cap of $841.75 million, a P/E ratio of 21.45 and a beta of 0.85. The stock has a 50-day moving average price of $20.91 and a 200-day moving average price of $19.06.
Speedway Motorsports (NYSE:TRK) last announced its quarterly earnings data on Wednesday, July 26th. The company reported $0.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.05. Speedway Motorsports had a net margin of 7.66% and a return on equity of 5.33%. The business had revenue of $179.25 million for the quarter. On average, equities analysts forecast that Speedway Motorsports, Inc. will post $0.98 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Tuesday, August 15th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.60 annualized dividend and a yield of 2.92%. Speedway Motorsports’s dividend payout ratio is currently 62.50%.
Several research firms have recently weighed in on TRK. Zacks Investment Research downgraded shares of Speedway Motorsports from a “hold” rating to a “sell” rating in a research note on Saturday, July 15th. BidaskClub raised shares of Speedway Motorsports from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Finally, TheStreet raised shares of Speedway Motorsports from a “c+” rating to a “b” rating in a research note on Wednesday, July 26th.
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Speedway Motorsports 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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