Goldman Sachs Group Inc. decreased its holdings in shares of Speedway Motorsports, Inc. (NYSE:TRK) by 22.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,956 shares of the company’s stock after selling 7,107 shares during the period. Goldman Sachs Group Inc. owned 0.06% of Speedway Motorsports worth $438,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in TRK. Dimensional Fund Advisors LP raised its position in shares of Speedway Motorsports by 0.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,159,301 shares of the company’s stock worth $57,720,000 after acquiring an additional 27,458 shares in the last quarter. potrero capital research llc raised its position in shares of Speedway Motorsports by 9.0% in the 2nd quarter. potrero capital research llc now owns 288,622 shares of the company’s stock worth $5,273,000 after acquiring an additional 23,767 shares in the last quarter. Citadel Advisors LLC raised its position in shares of Speedway Motorsports by 6.6% in the 2nd quarter. Citadel Advisors LLC now owns 24,488 shares of the company’s stock worth $447,000 after acquiring an additional 1,521 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Speedway Motorsports by 6.6% in the 2nd quarter. Vanguard Group Inc. now owns 1,038,139 shares of the company’s stock worth $18,966,000 after acquiring an additional 64,192 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Speedway Motorsports by 3.3% in the 2nd quarter. Northern Trust Corp now owns 207,198 shares of the company’s stock worth $3,786,000 after acquiring an additional 6,539 shares in the last quarter. 21.70% of the stock is owned by institutional investors and hedge funds.
Shares of Speedway Motorsports, Inc. (NYSE:TRK) opened at $19.23 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.42 and a quick ratio of 1.33. Speedway Motorsports, Inc. has a 52 week low of $16.80 and a 52 week high of $23.47. The firm has a market capitalization of $793.54, a P/E ratio of 20.83, a P/E/G ratio of 9.88 and a beta of 0.89.
Speedway Motorsports (NYSE:TRK) last issued its earnings results on Wednesday, October 25th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.06). Speedway Motorsports had a net margin of 7.26% and a return on equity of 4.79%. The business had revenue of $137.61 million for the quarter, compared to analysts’ expectations of $141.79 million. analysts forecast that Speedway Motorsports, Inc. will post 0.98 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 10th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $0.60 annualized dividend and a yield of 3.12%. Speedway Motorsports’s dividend payout ratio is 70.59%.
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In other Speedway Motorsports news, Director Mark M. Gambill sold 12,000 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $20.00, for a total transaction of $240,000.00. Following the sale, the director now directly owns 40,428 shares in the company, valued at approximately $808,560. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 72.00% of the company’s stock.
Several research analysts have recently issued reports on TRK shares. Zacks Investment Research raised Speedway Motorsports from a “sell” rating to a “hold” rating and set a $24.00 target price for the company in a research report on Thursday, July 27th. TheStreet downgraded Speedway Motorsports from a “b” rating to a “c+” rating in a research note on Wednesday, October 25th. Finally, BidaskClub upgraded Speedway Motorsports from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd.
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.
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