Municipal Employees Retirement System of Michigan Invests $251,000 in International Speedway Corp (ISCA) Stock

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Municipal Employees Retirement System of Michigan bought a new stake in International Speedway Corp (NASDAQ:ISCA) in the fourth quarter, Holdings Channel reports. The fund bought 5,720 shares of the company’s stock, valued at approximately $251,000.

A number of other large investors have also bought and sold shares of ISCA. Dupont Capital Management Corp acquired a new position in International Speedway during the fourth quarter valued at approximately $30,000. Quantamental Technologies LLC acquired a new position in International Speedway during the fourth quarter valued at approximately $63,000. PNC Financial Services Group Inc. boosted its position in International Speedway by 18.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,901 shares of the company’s stock valued at $84,000 after purchasing an additional 300 shares during the last quarter. First Citizens Bank & Trust Co. acquired a new position in International Speedway during the fourth quarter valued at approximately $283,000. Finally, Martingale Asset Management L P acquired a new position in International Speedway during the third quarter valued at approximately $333,000. 50.62% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ ISCA opened at $42.07 on Tuesday. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.89 billion, a P/E ratio of 23.90, a P/E/G ratio of 7.29 and a beta of 0.87. International Speedway Corp has a 52 week low of $35.12 and a 52 week high of $49.95.

International Speedway (NASDAQ:ISCA) last released its quarterly earnings data on Thursday, April 4th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.03). The business had revenue of $150.55 million during the quarter, compared to the consensus estimate of $150.95 million. International Speedway had a net margin of 11.45% and a return on equity of 4.88%. International Speedway’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 EPS. As a group, equities research analysts anticipate that International Speedway Corp will post 1.99 EPS for the current year.

The firm also recently disclosed an annual dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be paid a $0.49 dividend. This is a positive change from International Speedway’s previous annual dividend of $0.47. The ex-dividend date of this dividend is Thursday, May 30th. This represents a yield of 1.13%. International Speedway’s dividend payout ratio is currently 25.41%.

Several brokerages recently commented on ISCA. Zacks Investment Research raised International Speedway from a “sell” rating to a “hold” rating in a research report on Wednesday, March 27th. ValuEngine cut International Speedway from a “buy” rating to a “hold” rating in a research report on Tuesday, February 5th. Finally, BidaskClub cut International Speedway from a “sell” rating to a “strong sell” rating in a research report on Saturday, February 2nd. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The company has a consensus 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.

Read More: How mutual funds make money

Want to see what other hedge funds are holding ISCA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Speedway Corp (NASDAQ:ISCA).

Institutional Ownership by Quarter for International Speedway (NASDAQ:ISCA)

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