Dover Motorsports, Inc. (NYSE:DVD) was the target of a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 16,200 shares, an increase of 72.3% from the June 30th total of 9,400 shares. Based on an average trading volume of 14,200 shares, the short-interest ratio is currently 1.1 days. Approximately 0.1% of the company’s stock are sold short.
Institutional investors have recently added to or reduced their stakes in the stock. Eidelman Virant Capital lifted its position in Dover Motorsports by 3.0% during the 1st quarter. Eidelman Virant Capital now owns 848,876 shares of the company’s stock worth $1,714,000 after acquiring an additional 24,876 shares during the last quarter. Gabelli Funds LLC lifted its position in Dover Motorsports by 8.5% during the 2nd quarter. Gabelli Funds LLC now owns 251,751 shares of the company’s stock worth $524,000 after acquiring an additional 19,751 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in Dover Motorsports by 3.4% during the 2nd quarter. Renaissance Technologies LLC now owns 381,700 shares of the company’s stock worth $794,000 after acquiring an additional 12,500 shares during the last quarter. 23.12% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:DVD traded up $0.04 during midday trading on Monday, reaching $2.06. 29,400 shares of the company were exchanged, compared to its average volume of 11,305. Dover Motorsports has a fifty-two week low of $1.85 and a fifty-two week high of $2.25. The stock’s fifty day moving average price is $2.01. The firm has a market cap of $73.30 million, a price-to-earnings ratio of 16.67 and a beta of 0.16.
Dover Motorsports (NYSE:DVD) last released its earnings results on Thursday, July 25th. The company reported $0.15 earnings per share for the quarter. The business had revenue of $24.84 million during the quarter. Dover Motorsports had a net margin of 9.54% and a return on equity of 6.93%.
A number of brokerages recently commented on DVD. TheStreet lowered shares of Dover Motorsports from a “b-” rating to a “c+” rating in a report on Thursday, May 30th. ValuEngine lowered shares of Dover Motorsports from a “hold” rating to a “sell” rating in a report on Thursday, August 1st.
Dover Motorsports Company Profile
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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