Bank of New York Mellon Corp lifted its holdings in shares of Speedway Motorsports, Inc. (NYSE:TRK) by 1.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 282,320 shares of the company’s stock after purchasing an additional 5,301 shares during the quarter. Bank of New York Mellon Corp owned about 0.69% of Speedway Motorsports worth $4,901,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. KBC Group NV increased its stake in Speedway Motorsports by 153.2% in the first quarter. KBC Group NV now owns 5,822 shares of the company’s stock valued at $104,000 after purchasing an additional 3,523 shares during the last quarter. Northern Trust Corp grew its position in shares of Speedway Motorsports by 2.3% during the first 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 last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Speedway Motorsports by 73.9% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,525 shares of the company’s stock worth $356,000 after acquiring an additional 8,725 shares during the last quarter. Allianz Asset Management GmbH grew its position in shares of Speedway Motorsports by 9.3% during the first quarter. Allianz Asset Management GmbH now owns 121,335 shares of the company’s stock worth $2,162,000 after acquiring an additional 10,308 shares during the last quarter. Finally, First Quadrant L P CA grew its position in shares of Speedway Motorsports by 114.1% during the second quarter. First Quadrant L P CA now owns 58,147 shares of the company’s stock worth $1,009,000 after acquiring an additional 30,992 shares during the last quarter. 21.69% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently weighed in on TRK. ValuEngine raised Speedway Motorsports from a “sell” rating to a “hold” rating in a report on Thursday, July 5th. Zacks Investment Research raised Speedway Motorsports from a “strong sell” rating to a “hold” rating in a report on Thursday, June 28th.
Speedway Motorsports stock opened at $16.64 on Thursday. The firm has a market capitalization of $730.05 million, a price-to-earnings ratio of 18.29, a price-to-earnings-growth ratio of 3.09 and a beta of 1.00. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.32 and a quick ratio of 1.24. Speedway Motorsports, Inc. has a one year low of $16.46 and a one year high of $23.47.
Speedway Motorsports (NYSE:TRK) last released its quarterly earnings results on Wednesday, August 1st. The company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.04). The firm had revenue of $165.85 million for the quarter, compared to analyst estimates of $178.21 million. Speedway Motorsports had a return on equity of 4.07% and a net margin of 33.47%. On average, analysts predict that Speedway Motorsports, Inc. will post 1.05 earnings per share for the current year.
About Speedway Motorsports
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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