Speedway Motorsports, Inc. (TRK) Upgraded to Hold at BidaskClub
Speedway Motorsports, Inc. (NYSE:TRK) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Monday.
A number of other brokerages have also recently issued reports on TRK. Zacks Investment Research cut Speedway Motorsports from a “hold” rating to a “sell” rating in a research note on Saturday, July 15th. TheStreet lowered Speedway Motorsports from a “b-” rating to a “c+” rating in a report on Tuesday, May 23rd. Finally, Macquarie raised Speedway Motorsports from an “underperform” rating to a “neutral” rating in a report on Friday, May 5th. They noted that the move was a valuation call.
Shares of Speedway Motorsports (TRK) traded down 0.38% during trading on Monday, reaching $18.48. The company’s stock had a trading volume of 43,924 shares. The stock has a market cap of $758.86 million, a price-to-earnings ratio of 20.74 and a beta of 0.80. Speedway Motorsports has a 52-week low of $16.62 and a 52-week high of $22.28. The stock’s 50 day moving average price is $18.07 and its 200-day moving average price is $19.32.
Speedway Motorsports (NYSE:TRK) last released its quarterly earnings data on Friday, April 28th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by $0.02. The business had revenue of $80.33 million during the quarter. Speedway Motorsports had a return on equity of 4.94% and a net margin of 7.22%. Equities analysts anticipate that Speedway Motorsports will post $0.94 EPS for the current year.
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Large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in Speedway Motorsports by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,131,843 shares of the company’s stock worth $59,004,000 after buying an additional 24,655 shares in the last quarter. Vanguard Group Inc. boosted its position in Speedway Motorsports by 4.0% in the first quarter. Vanguard Group Inc. now owns 973,947 shares of the company’s stock worth $18,349,000 after buying an additional 37,153 shares in the last quarter. Renaissance Technologies LLC boosted its position in Speedway Motorsports by 15.9% in the fourth quarter. Renaissance Technologies LLC now owns 302,500 shares of the company’s stock worth $6,555,000 after buying an additional 41,600 shares in the last quarter. State Street Corp boosted its position in Speedway Motorsports by 3.5% in the fourth quarter. State Street Corp now owns 259,737 shares of the company’s stock worth $5,629,000 after buying an additional 8,819 shares in the last quarter. Finally, Norges Bank acquired a new position in Speedway Motorsports during the fourth quarter worth approximately $5,317,000. Institutional investors own 21.93% of the company’s stock.
About Speedway Motorsports
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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