Westwood Holdings Group Inc. Raises Holdings in International Speedway Corp (ISCA)
Westwood Holdings Group Inc. raised its stake in International Speedway Corp (NASDAQ:ISCA) by 1.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 325,730 shares of the company’s stock after purchasing an additional 4,660 shares during the period. Westwood Holdings Group Inc. owned approximately 0.74% of International Speedway worth $12,980,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Community Bank N.A. bought a new stake in International Speedway in the 4th quarter valued at $104,000. Crossmark Global Holdings Inc. bought a new stake in International Speedway in the 4th quarter valued at $206,000. BlueCrest Capital Management Ltd bought a new stake in International Speedway in the 4th quarter valued at $239,000. New Mexico Educational Retirement Board bought a new stake in International Speedway in the 4th quarter valued at $247,000. Finally, Victory Capital Management Inc. boosted its holdings in International Speedway by 27.2% in the 3rd quarter. Victory Capital Management Inc. now owns 7,225 shares of the company’s stock valued at $260,000 after purchasing an additional 1,543 shares during the period. 52.03% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have weighed in on ISCA. Citigroup increased their price target on shares of International Speedway from $31.00 to $40.00 and gave the company a “sell” rating in a report on Tuesday, February 6th. BidaskClub downgraded shares of International Speedway from a “sell” rating to a “strong sell” rating in a report on Saturday, January 6th. Finally, Zacks Investment Research raised shares of International Speedway from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Tuesday, January 30th.
International Speedway (NASDAQ:ISCA) last released its quarterly earnings data on Thursday, January 25th. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The company had revenue of $226.26 million during the quarter, compared to the consensus estimate of $222.36 million. International Speedway had a net margin of 16.50% and a return on equity of 5.09%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the firm earned $0.72 EPS. equities research analysts predict that International Speedway Corp will post 2.06 earnings per share for the current fiscal year.
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International Speedway Profile
International Speedway Corporation is an owner of motorsports entertainment facilities and promoter of motorsports themed entertainment activities in the United States. The Company’s motorsports themed event operations consist of racing events at its motorsports entertainment facilities. As of November 30, 2016, the Company owned and/or operated 13 of the nation’s motorsports entertainment facilities: Daytona International Speedway in Florida; Talladega Superspeedway in Alabama; Michigan International Speedway in Michigan; Auto Club Speedway of Southern California in California; Kansas Speedway in Kansas; Richmond International Raceway in Virginia; Darlington Raceway in South Carolina; Chicagoland Speedway in Illinois; Martinsville Speedway in Virginia; Phoenix International Raceway in Arizona; Homestead-Miami Speedway in Florida; Watkins Glen International in New York, and Route 66 Raceway in Illinois.
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