Speedway Motorsports Inc. (TRK) Reaches New 1-Year Low at $16.62
Speedway Motorsports Inc. (NYSE:TRK) shares reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $16.62 and last traded at $16.83, with a volume of 19,389 shares. The stock had previously closed at $17.04.
TRK has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Speedway Motorsports from a “sell” rating to a “hold” rating in a report on Thursday, June 2nd. TheStreet raised shares of Speedway Motorsports from a “hold” rating to a “buy” rating in a report on Wednesday, July 27th.
The firm has a market capitalization of $694.07 million and a PE ratio of 22.55. The stock has a 50-day moving average of $17.86 and a 200 day moving average of $18.09.
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 consensus estimate of $0.70 by $0.10. The company had revenue of $175.70 million for the quarter, compared to analysts’ expectations of $179.30 million. Equities analysts forecast that Speedway Motorsports Inc. will post $0.98 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 5th. Shareholders of record on Monday, August 15th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend is Thursday, August 11th.
A number of hedge funds and institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in Speedway Motorsports by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,023,988 shares of the company’s stock valued at $62,657,000 after buying an additional 8,187 shares during the period. New York State Common Retirement Fund boosted its position in Speedway Motorsports by 789.3% in the fourth quarter. New York State Common Retirement Fund now owns 95,160 shares of the company’s stock valued at $1,972,000 after buying an additional 84,460 shares during the period. Finally, Systematic Financial Management LP purchased a new position in Speedway Motorsports during the fourth quarter valued at approximately $2,093,000.
Speedway Motorsports, Inc (SMI) is engaged in promoting, marketing and sponsoring motorsports activities in the United States. The Company also provides souvenir merchandising services, and food, beverage and hospitality catering services through its subsidiary, SMISC Holdings, Inc (doing business as SMI Properties).
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