International Speedway Corp (NASDAQ:ISCA) was the recipient of a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 187,400 shares, a decrease of 38.1% from the August 30th total of 302,700 shares. Currently, 0.8% of the company’s stock are sold short. Based on an average trading volume of 180,800 shares, the days-to-cover ratio is presently 1.0 days.
Shares of NASDAQ:ISCA traded down $0.10 on Friday, reaching $45.05. 142,109 shares of the company’s stock were exchanged, compared to its average volume of 290,453. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 24.35, a PEG ratio of 8.06 and a beta of 0.64. International Speedway has a fifty-two week low of $35.39 and a fifty-two week high of $45.73. The business’s 50-day moving average is $45.10 and its two-hundred day moving average is $44.64. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 0.15.
International Speedway (NASDAQ:ISCA) last issued its earnings results on Friday, October 4th. The company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.03). International Speedway had a return on equity of 4.89% and a net margin of 11.34%. Analysts predict that International Speedway will post 1.89 earnings per share for the current fiscal year.
ISCA has been the topic of a number of research analyst reports. BidaskClub downgraded shares of International Speedway from a “hold” rating to a “sell” rating in a research note on Monday, September 23rd. ValuEngine cut shares of International Speedway from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Wells Fargo & Co cut shares of International Speedway from a “market perform” rating to an “underperform” rating and set a $41.00 target price on the stock. in a report on Monday, July 15th. Finally, Zacks Investment Research cut shares of International Speedway from a “hold” rating to a “sell” rating in a report on Tuesday, September 10th.
In other International Speedway news, VP Derek Muldowney sold 2,594 shares of the stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $45.12, for a total transaction of $117,041.28. Following the transaction, the vice president now directly owns 9,778 shares in the company, valued at approximately $441,183.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 44.70% of the company’s stock.
Several large investors have recently modified their holdings of the business. BlackRock Inc. raised its holdings in shares of International Speedway by 0.8% during the second quarter. BlackRock Inc. now owns 2,773,945 shares of the company’s stock worth $124,523,000 after purchasing an additional 21,186 shares during the period. Renaissance Technologies LLC raised its holdings in shares of International Speedway by 0.8% during the second quarter. Renaissance Technologies LLC now owns 1,441,841 shares of the company’s stock worth $64,724,000 after purchasing an additional 11,728 shares during the period. Northern Trust Corp raised its holdings in shares of International Speedway by 0.3% during the second quarter. Northern Trust Corp now owns 1,091,392 shares of the company’s stock worth $48,992,000 after purchasing an additional 3,688 shares during the period. Mawer Investment Management Ltd. raised its holdings in shares of International Speedway by 7.9% during the second quarter. Mawer Investment Management Ltd. now owns 740,390 shares of the company’s stock worth $33,236,000 after purchasing an additional 54,050 shares during the period. Finally, ARP Americas LP acquired a new stake in shares of International Speedway during the second quarter worth $24,380,000. 47.75% of the stock is currently owned by institutional investors.
About International Speedway
International Speedway Corporation, together with its subsidiaries, promotes motorsports themed entertainment activities in the United States. Its motorsports themed event operations consist principally of racing events at its motorsports entertainment facilities, which promote approximately 100 stock car, open wheel, sports car, truck, motorcycle, and other racing events.
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