CWA Asset Management Group LLC lifted its position in shares of Speedway Motorsports, Inc. (NYSE:TRK) by 3.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,411 shares of the company’s stock after purchasing an additional 1,957 shares during the quarter. CWA Asset Management Group LLC owned about 0.16% of Speedway Motorsports worth $1,232,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TRK. Teachers Advisors LLC boosted its position in shares of Speedway Motorsports by 32.7% during the fourth quarter. Teachers Advisors LLC now owns 29,866 shares of the company’s stock valued at $647,000 after purchasing an additional 7,367 shares in the last quarter. Strs Ohio raised its stake in Speedway Motorsports by 6.6% during the first quarter. Strs Ohio now owns 32,400 shares of the company’s stock valued at $610,000 after buying an additional 2,000 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Speedway Motorsports by 3.7% during the first quarter. Bank of New York Mellon Corp now owns 209,251 shares of the company’s stock valued at $3,942,000 after buying an additional 7,454 shares during the last quarter. Alambic Investment Management L.P. raised its stake in Speedway Motorsports by 61.3% during the first quarter. Alambic Investment Management L.P. now owns 15,805 shares of the company’s stock valued at $298,000 after buying an additional 6,005 shares during the last quarter. Finally, Brandes Investment Partners LP raised its stake in Speedway Motorsports by 22.4% during the first quarter. Brandes Investment Partners LP now owns 132,806 shares of the company’s stock valued at $2,502,000 after buying an additional 24,302 shares during the last quarter. Institutional investors own 22.39% of the company’s stock.

TRK has been the subject of a number of recent research reports. TheStreet upgraded Speedway Motorsports from a “c+” rating to a “b” rating in a research note on Wednesday, July 26th. BidaskClub upgraded Speedway Motorsports from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Finally, Zacks Investment Research upgraded Speedway Motorsports from a “sell” rating to a “hold” rating in a research note on Wednesday, June 28th.

Shares of Speedway Motorsports, Inc. (TRK) traded up 0.33% on Tuesday, reaching $21.15. The company’s stock had a trading volume of 4,272 shares. The firm has a market capitalization of $867.17 million, a PE ratio of 22.10 and a beta of 0.85. Speedway Motorsports, Inc. has a one year low of $16.80 and a one year high of $22.28. The firm has a 50-day moving average price of $20.81 and a 200 day moving average price of $19.06.

Speedway Motorsports (NYSE:TRK) last announced its earnings results on Wednesday, July 26th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.05. Speedway Motorsports had a return on equity of 5.33% and a net margin of 7.66%. The business had revenue of $179.25 million for the quarter. On average, analysts anticipate that Speedway Motorsports, Inc. will post $1.00 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Tuesday, August 15th were issued a dividend of $0.15 per share. The ex-dividend date was Friday, August 11th. This represents a $0.60 annualized dividend and a dividend yield of 2.85%. Speedway Motorsports’s dividend payout ratio is presently 62.50%.

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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.

Institutional Ownership by Quarter for Speedway Motorsports (NYSE:TRK)

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