Dover Motorsports (NYSE:DVD) Cut to “Sell” at ValuEngine

ValuEngine lowered shares of Dover Motorsports (NYSE:DVD) from a hold rating to a sell rating in a research report released on Thursday morning, ValuEngine reports.

Separately, TheStreet cut shares of Dover Motorsports from a b- rating to a c+ rating in a research note on Thursday, May 30th.

Shares of DVD remained flat at $$2.01 during trading hours on Thursday. 6,626 shares of the company were exchanged, compared to its average volume of 15,862. Dover Motorsports has a 52 week low of $1.85 and a 52 week high of $2.25. The firm’s 50-day simple moving average is $2.00. The stock has a market capitalization of $73.66 million, a P/E ratio of 16.75 and a beta of 0.17.

Dover Motorsports (NYSE:DVD) last released its earnings results on Thursday, July 25th. The company reported $0.15 earnings per share for the quarter. Dover Motorsports had a net margin of 9.54% and a return on equity of 7.05%. The company had revenue of $24.84 million for the quarter.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Gabelli Funds LLC lifted its stake in shares of Dover Motorsports by 8.5% during the 2nd quarter. Gabelli Funds LLC now owns 251,751 shares of the company’s stock valued at $524,000 after buying an additional 19,751 shares in the last quarter. Eidelman Virant Capital lifted its stake in shares of Dover Motorsports by 3.0% during the 1st quarter. Eidelman Virant Capital now owns 848,876 shares of the company’s stock valued at $1,714,000 after buying an additional 24,876 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan purchased a new stake in Dover Motorsports in the 4th quarter worth $311,000. Institutional investors own 23.12% of the company’s stock.

About Dover Motorsports

Dover Motorsports, Inc markets and promotes motorsports entertainment in the United States. It owns and operates Dover International Speedway in Dover, Delaware; and Nashville Superspeedway near Nashville, Tennessee. The company was formerly known as Dover Downs Entertainment, Inc Dover Motorsports, Inc was founded in 1969 and is based in Dover, Delaware.

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