Rhumbline Advisers increased its stake in Speedway Motorsports, Inc. (NYSE:TRK) by 6.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,401 shares of the company’s stock after purchasing an additional 986 shares during the quarter. Rhumbline Advisers’ holdings in Speedway Motorsports were worth $318,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. American International Group Inc. raised its holdings in Speedway Motorsports by 7.4% in the 1st quarter. American International Group Inc. now owns 7,255 shares of the company’s stock worth $137,000 after purchasing an additional 498 shares during the period. Strs Ohio raised its holdings in Speedway Motorsports by 4.0% in the 2nd quarter. Strs Ohio now owns 33,700 shares of the company’s stock worth $615,000 after purchasing an additional 1,300 shares during the period. Prudential Financial Inc. raised its holdings in Speedway Motorsports by 2.1% in the 1st quarter. Prudential Financial Inc. now owns 88,976 shares of the company’s stock worth $1,676,000 after purchasing an additional 1,793 shares during the period. Algert Global LLC raised its holdings in Speedway Motorsports by 16.0% in the 2nd quarter. Algert Global LLC now owns 13,004 shares of the company’s stock worth $238,000 after purchasing an additional 1,796 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its holdings in Speedway Motorsports by 5.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 44,140 shares of the company’s stock worth $832,000 after purchasing an additional 2,223 shares during the period. 22.39% of the stock is currently owned by institutional investors.

Shares of Speedway Motorsports, Inc. (NYSE:TRK) opened at 21.98 on Tuesday. The stock has a market cap of $901.20 million, a price-to-earnings ratio of 22.97 and a beta of 0.86. The firm has a 50-day moving average price of $20.93 and a 200-day moving average price of $19.29. Speedway Motorsports, Inc. has a 52 week low of $16.80 and a 52 week high of $22.29.

Speedway Motorsports (NYSE:TRK) last issued its quarterly earnings data on Wednesday, July 26th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. The business had revenue of $179.25 million during the quarter. Speedway Motorsports had a net margin of 7.66% and a return on equity of 5.33%. On average, equities analysts anticipate that Speedway Motorsports, Inc. will post $0.98 earnings per share for the current year.

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A number of brokerages recently commented on TRK. BidaskClub cut Speedway Motorsports from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. TheStreet upgraded Speedway Motorsports from a “c+” rating to a “b” rating in a research note on Wednesday, July 26th. Finally, Zacks Investment Research upgraded Speedway Motorsports from a “sell” rating to a “hold” rating and set a $24.00 price target for the company in a research note on Thursday, July 27th.

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.

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

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