Speedway Motorsports, Inc. (NYSE:TRK) Holdings Trimmed by Prudential Financial Inc.

Prudential Financial Inc. trimmed its position in shares of Speedway Motorsports, Inc. (NYSE:TRK) by 1.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 89,454 shares of the company’s stock after selling 1,373 shares during the period. Prudential Financial Inc. owned 0.22% of Speedway Motorsports worth $1,659,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. OMERS ADMINISTRATION Corp purchased a new position in Speedway Motorsports during the 2nd quarter worth approximately $617,000. Acadian Asset Management LLC boosted its stake in shares of Speedway Motorsports by 158.6% during the 2nd quarter. Acadian Asset Management LLC now owns 25,426 shares of the company’s stock valued at $472,000 after buying an additional 15,594 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Speedway Motorsports by 19.7% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 26,225 shares of the company’s stock valued at $486,000 after buying an additional 4,325 shares during the period. Meeder Asset Management Inc. boosted its stake in shares of Speedway Motorsports by 30.2% during the 2nd quarter. Meeder Asset Management Inc. now owns 10,148 shares of the company’s stock valued at $188,000 after buying an additional 2,356 shares during the period. Finally, Gabelli Funds LLC acquired a new stake in shares of Speedway Motorsports during the 2nd quarter valued at $415,000. Hedge funds and other institutional investors own 21.99% of the company’s stock.

Shares of NYSE:TRK remained flat at $$19.78 during trading on Thursday. The company has a current ratio of 1.77, a quick ratio of 1.67 and a debt-to-equity ratio of 0.21. Speedway Motorsports, Inc. has a fifty-two week low of $13.47 and a fifty-two week high of $19.90. The firm has a fifty day simple moving average of $19.76 and a 200 day simple moving average of $17.90. The company has a market capitalization of $810.95 million, a price-to-earnings ratio of 19.78 and a beta of 0.91.

Speedway Motorsports (NYSE:TRK) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.03). Speedway Motorsports had a net margin of 8.07% and a return on equity of 4.22%. The business had revenue of $141.87 million during the quarter, compared to analyst estimates of $143.46 million. On average, equities analysts expect that Speedway Motorsports, Inc. will post 0.94 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 15th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend was Wednesday, August 14th. Speedway Motorsports’s payout ratio is presently 60.00%.

A number of equities research analysts have issued reports on TRK shares. Zacks Investment Research raised shares of Speedway Motorsports from a “sell” rating to a “hold” rating in a research note on Tuesday. Wells Fargo & Co lowered shares of Speedway Motorsports from a “market perform” rating to an “underperform” rating in a research note on Monday, July 15th.

Speedway Motorsports Company Profile

Speedway Motorsports, Inc, through its subsidiaries, promotes, markets, and sponsors motorsports activities in the United States. The company owns and operates eight racing facilities, including Atlanta Motor Speedway, Bristol Motor Speedway, Charlotte Motor Speedway, Kentucky Speedway, Las Vegas Motor Speedway, New Hampshire Motor Speedway, Sonoma Raceway, and Texas Motor Speedway racing facilities.

Further Reading: What does an equal weight rating mean?

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

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