Dimensional Fund Advisors LP boosted its stake in Speedway Motorsports Inc. (NYSE:TRK) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,095,288 shares of the company’s stock after buying an additional 31,081 shares during the period. Dimensional Fund Advisors LP owned 7.52% of Speedway Motorsports worth $54,941,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. American Century Companies Inc. raised its stake in shares of Speedway Motorsports by 2.9% in the second quarter. American Century Companies Inc. now owns 15,913 shares of the company’s stock valued at $282,000 after buying an additional 453 shares in the last quarter. First Trust Advisors LP bought a new position in Speedway Motorsports during the second quarter valued at $300,000. Strs Ohio raised its position in Speedway Motorsports by 11.5% in the second quarter. Strs Ohio now owns 34,900 shares of the company’s stock valued at $619,000 after buying an additional 3,600 shares during the period. Brandes Investment Partners LP raised its position in Speedway Motorsports by 35.3% in the second quarter. Brandes Investment Partners LP now owns 65,949 shares of the company’s stock valued at $1,171,000 after buying an additional 17,219 shares during the period. Finally, Prudential Financial Inc. raised its position in Speedway Motorsports by 8.8% in the first quarter. Prudential Financial Inc. now owns 80,383 shares of the company’s stock valued at $1,594,000 after buying an additional 6,500 shares during the period. Institutional investors and hedge funds own 22.12% of the company’s stock.
Speedway Motorsports Inc. (NYSE:TRK) traded down 0.51% during trading on Thursday, reaching $17.45. The company’s stock had a trading volume of 2,172 shares. The company has a market cap of $717.93 million, a P/E ratio of 23.33 and a beta of 0.80. The company’s 50 day moving average price is $17.79 and its 200 day moving average price is $17.91. Speedway Motorsports Inc. has a 52 week low of $16.62 and a 52 week high of $21.32.
Speedway Motorsports (NYSE:TRK) last announced its earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.70 by $0.10. The company earned $175.70 million during the quarter, compared to analyst estimates of $179.30 million. Speedway Motorsports had a return on equity of 4.86% and a net margin of 6.26%. On average, equities analysts anticipate that Speedway Motorsports Inc. will post $0.93 earnings per share for the current fiscal year.
Several equities analysts have weighed in on TRK shares. Zacks Investment Research upgraded Speedway Motorsports from a “sell” rating to a “hold” rating in a report on Thursday, September 15th. TheStreet upgraded Speedway Motorsports from a “hold” rating to a “buy” rating in a report on Wednesday, July 27th.
Speedway Motorsports Company Profile
Speedway Motorsports, Inc is engaged in promoting, marketing and sponsoring motorsports activities in the United States. The Company also provides event and non-event souvenir merchandising and distribution services, and food, beverage and hospitality catering services through its subsidiary, SMISC Holdings, Inc It provides radio programming, production and distribution; distributes wholesale and retail motorsports, and other sports-related souvenir merchandise and apparel, and manufactures and distributes smaller-scale, modified racing cars and parts.
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