Clark Estates Inc. NY cut its stake in shares of Speedway Motorsports, Inc. (NYSE:TRK) by 26.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 253,611 shares of the company’s stock after selling 91,974 shares during the period. Speedway Motorsports comprises 0.7% of Clark Estates Inc. NY’s portfolio, making the stock its 21st largest position. Clark Estates Inc. NY owned approximately 0.62% of Speedway Motorsports worth $4,778,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of the stock. Neuberger Berman Group LLC bought a new position in shares of Speedway Motorsports during the third quarter valued at about $238,000. Menta Capital LLC boosted its position in shares of Speedway Motorsports by 0.9% in the fourth quarter. Menta Capital LLC now owns 21,254 shares of the company’s stock valued at $461,000 after buying an additional 200 shares during the period. Two Sigma Investments LP bought a new position in shares of Speedway Motorsports during the fourth quarter valued at about $536,000. Teachers Advisors LLC boosted its position in shares of Speedway Motorsports by 32.7% in the fourth quarter. Teachers Advisors LLC now owns 29,866 shares of the company’s stock valued at $647,000 after buying an additional 7,367 shares during the period. Finally, Prudential Financial Inc. boosted its position in shares of Speedway Motorsports by 1.0% in the third quarter. Prudential Financial Inc. now owns 87,183 shares of the company’s stock valued at $1,557,000 after buying an additional 900 shares during the period. 22.34% of the stock is owned by institutional investors and hedge funds.
Shares of Speedway Motorsports, Inc. (NYSE:TRK) traded up 0.26% during trading on Friday, hitting $19.52. The stock had a trading volume of 42,566 shares. The stock’s 50-day moving average is $19.21 and its 200-day moving average is $20.11. Speedway Motorsports, Inc. has a 12-month low of $16.62 and a 12-month high of $22.28. The stock has a market cap of $801.94 million, a price-to-earnings ratio of 20.33 and a beta of 0.84.
Speedway Motorsports (NYSE:TRK) last posted its quarterly earnings results on Wednesday, March 1st. The company reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by $0.01. Speedway Motorsports had a net margin of 6.93% and a return on equity of 4.92%. The company had revenue of $82.63 million for the quarter. On average, equities research analysts expect that Speedway Motorsports, Inc. will post $0.94 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 5th. Stockholders of record on Monday, May 15th will be given a dividend of $0.15 per share. The ex-dividend date is Thursday, May 11th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.07%. Speedway Motorsports’s payout ratio is 68.97%.
Several equities analysts have recently issued reports on TRK shares. Zacks Investment Research raised Speedway Motorsports from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 28th. Macquarie cut Speedway Motorsports from a “neutral” rating to an “underperform” rating in a report on Friday, March 3rd.
About Speedway Motorsports
Speedway Motorsports, Inc (SMI), through its operating subsidiaries, is a promoter, marketer and sponsor of motorsports activities in the United States. The Company’s operations consist of promoting, marketing and sponsoring motorsports racing events, merchandising and other related activities conducted at its various speedway facilities located in the United States.
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