Strs Ohio increased its holdings in shares of Speedway Motorsports, Inc. (NYSE:TRK) by 9.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 34,600 shares of the company’s stock after purchasing an additional 3,100 shares during the period. Strs Ohio’s holdings in Speedway Motorsports were worth $600,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. MetLife Investment Advisors LLC acquired a new stake in shares of Speedway Motorsports in the 4th quarter worth $134,000. Bailard Inc. acquired a new stake in shares of Speedway Motorsports in the 1st quarter worth $201,000. KBC Group NV lifted its stake in shares of Speedway Motorsports by 153.2% in 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 period. Northern Trust Corp lifted its stake in shares of Speedway Motorsports by 2.3% in the 1st quarter. Northern Trust Corp now owns 159,092 shares of the company’s stock worth $2,835,000 after acquiring an additional 3,595 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Speedway Motorsports by 1.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,201,372 shares of the company’s stock worth $57,048,000 after acquiring an additional 37,126 shares during the period. Institutional investors and hedge funds own 21.69% of the company’s stock.
Shares of NYSE TRK opened at $17.64 on Thursday. The company has a quick ratio of 1.24, a current ratio of 1.32 and a debt-to-equity ratio of 0.21. Speedway Motorsports, Inc. has a 52 week low of $16.46 and a 52 week high of $23.47. The stock has a market capitalization of $731.68 million, a P/E ratio of 19.38, a P/E/G ratio of 3.10 and a beta of 1.00.
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). Speedway Motorsports had a net margin of 33.47% and a return on equity of 4.07%. The company had revenue of $165.85 million during the quarter, compared to analyst estimates of $178.21 million. research analysts anticipate that Speedway Motorsports, Inc. will post 1.05 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 5th. Investors of record on Wednesday, August 15th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.40%. The ex-dividend date was Tuesday, August 14th. Speedway Motorsports’s dividend payout ratio (DPR) is 65.93%.
Several research firms have recently commented on TRK. ValuEngine upgraded shares of Speedway Motorsports from a “sell” rating to a “hold” rating in a research note on Thursday, July 5th. Zacks Investment Research upgraded shares of Speedway Motorsports from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 28th.
Speedway Motorsports 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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