BidaskClub upgraded shares of Speedway Motorsports, Inc. (NYSE:TRK) from a hold rating to a buy rating in a research note published on Thursday morning.

Several other research firms also recently weighed in on TRK. Zacks Investment Research downgraded Speedway Motorsports from a hold rating to a sell rating in a research report on Saturday, July 15th. TheStreet upgraded Speedway Motorsports from a c+ rating to a b rating in a report on Wednesday, July 26th. Finally, Macquarie upgraded Speedway Motorsports from an underperform rating to a neutral rating in a report on Friday, May 5th. They noted that the move was a valuation call.

Speedway Motorsports (NYSE TRK) traded up 1.95% during trading on Thursday, reaching $21.91. The company’s stock had a trading volume of 40,951 shares. The company’s 50-day moving average is $18.60 and its 200-day moving average is $19.20. Speedway Motorsports has a 1-year low of $16.73 and a 1-year high of $22.28. The company has a market capitalization of $898.33 million, a P/E ratio of 22.89 and a beta of 0.84.

Speedway Motorsports (NYSE:TRK) last released its earnings results on Wednesday, July 26th. The company reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.05. Speedway Motorsports had a return on equity of 13.71% and a net margin of 15.23%. The firm had revenue of $179.25 million for the quarter. Equities analysts anticipate that Speedway Motorsports will post $0.96 EPS for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Tuesday, August 15th will be issued a $0.15 dividend. The ex-dividend date is Friday, August 11th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.74%. Speedway Motorsports’s dividend payout ratio (DPR) is 62.50%.

Several institutional investors have recently added to or reduced their stakes in the company. American International Group Inc. increased its position in Speedway Motorsports by 7.4% in the first quarter. American International Group Inc. now owns 7,255 shares of the company’s stock worth $137,000 after buying an additional 498 shares during the period. Spark Investment Management LLC bought a new stake in Speedway Motorsports during the first quarter worth about $194,000. Algert Global LLC bought a new stake in Speedway Motorsports during the first quarter worth about $211,000. Alambic Investment Management L.P. raised its stake in Speedway Motorsports by 61.3% in the first quarter. Alambic Investment Management L.P. now owns 15,805 shares of the company’s stock worth $298,000 after buying an additional 6,005 shares during the period. Finally, Rhumbline Advisers raised its stake in Speedway Motorsports by 6.0% in the second quarter. Rhumbline Advisers now owns 17,401 shares of the company’s stock worth $318,000 after buying an additional 986 shares during the period. Institutional investors own 21.64% of the company’s stock.

Speedway Motorsports Company Profile

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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