Russell Investments Group Ltd. Increases Holdings in International Speedway Corporation (ISCA)
Russell Investments Group Ltd. raised its holdings in shares of International Speedway Corporation (NASDAQ:ISCA) by 333.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,125 shares of the company’s stock after acquiring an additional 7,787 shares during the period. Russell Investments Group Ltd.’s holdings in International Speedway Corporation were worth $381,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in ISCA. BlackRock Inc. lifted its stake in International Speedway Corporation by 14,546.9% during the 1st quarter. BlackRock Inc. now owns 2,509,018 shares of the company’s stock valued at $92,708,000 after acquiring an additional 2,491,888 shares during the period. Vivaldi Capital Management LLC acquired a new stake in International Speedway Corporation during the 1st quarter valued at approximately $10,261,976,000. Goldman Sachs Group Inc. lifted its stake in International Speedway Corporation by 56.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 452,254 shares of the company’s stock valued at $16,711,000 after acquiring an additional 162,915 shares during the period. FMR LLC acquired a new stake in International Speedway Corporation during the 1st quarter valued at approximately $3,592,000. Finally, Vanguard Group Inc. lifted its stake in International Speedway Corporation by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 2,279,289 shares of the company’s stock valued at $84,221,000 after acquiring an additional 79,723 shares during the period. Institutional investors and hedge funds own 50.71% of the company’s stock.
In related news, Director Hyatt J. Brown purchased 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 12th. The stock was purchased at an average cost of $33.79 per share, with a total value of $337,900.00. Following the completion of the acquisition, the director now directly owns 809 shares in the company, valued at $27,336.11. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 43.06% of the stock is owned by company insiders.
Shares of International Speedway Corporation (NASDAQ:ISCA) traded up 3.64% during mid-day trading on Friday, reaching $35.55. 138,317 shares of the company’s stock traded hands. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 23.28 and a beta of 1.17. The firm’s 50-day moving average is $35.07 and its 200 day moving average is $35.89. International Speedway Corporation has a one year low of $30.05 and a one year high of $40.31.
International Speedway Corporation (NASDAQ:ISCA) last posted its quarterly earnings data on Monday, July 3rd. The company reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.02). International Speedway Corporation had a net margin of 10.41% and a return on equity of 4.94%. The firm had revenue of $165.30 million during the quarter, compared to analyst estimates of $166.79 million. During the same period in the previous year, the company posted $0.29 earnings per share. International Speedway Corporation’s revenue was down 1.4% compared to the same quarter last year. Analysts predict that International Speedway Corporation will post $1.54 earnings per share for the current year.
Several analysts have commented on ISCA shares. Zacks Investment Research cut shares of International Speedway Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Citigroup Inc. restated a “sell” rating and set a $30.00 price objective (down from $31.00) on shares of International Speedway Corporation in a research note on Monday, July 10th. Finally, BidaskClub cut shares of International Speedway Corporation from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. International Speedway Corporation currently has an average rating of “Hold” and a consensus price target of $36.50.
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