Speedway Motorsports Inc. (TRK) Trading 2.4% Higher
Speedway Motorsports Inc. (NYSE:TRK) shares traded up 2.4% on Wednesday . The company traded as high as $17.94 and last traded at $17.83, with a volume of 55,462 shares changing hands. The stock had previously closed at $17.42.
A number of research analysts have weighed in on the stock. TheStreet raised shares of Speedway Motorsports from a “hold” rating to a “buy” rating in a research note on Wednesday, July 27th. Zacks Investment Research lowered shares of Speedway Motorsports from a “hold” rating to a “sell” rating in a research report on Tuesday, July 26th.
The company has a 50 day moving average price of $17.87 and a 200 day moving average price of $18.06. The firm has a market cap of $733.56 million and a price-to-earnings ratio of 23.84.
Speedway Motorsports (NYSE:TRK) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.70 by $0.10. The firm earned $175.70 million during the quarter, compared to the consensus estimate of $179.30 million. On average, equities research analysts forecast that Speedway Motorsports Inc. will post $0.93 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 5th. Stockholders of record on Monday, August 15th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Thursday, August 11th.
Other hedge funds have recently added to or reduced their stakes in the company. New York State Common Retirement Fund increased its stake 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 worth $1,972,000 after buying an additional 84,460 shares in the last quarter. Systematic Financial Management LP purchased a new stake in Speedway Motorsports during the fourth quarter worth $2,093,000. Finally, Dimensional Fund Advisors LP increased its stake 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 worth $62,657,000 after buying an additional 8,187 shares in the last quarter.
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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