Axa boosted its stake in shares of International Speedway Corp (NASDAQ:ISCA) by 25.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 183,354 shares of the company’s stock after purchasing an additional 37,554 shares during the quarter. Axa owned approximately 0.41% of International Speedway worth $7,307,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Paradice Investment Management LLC increased its holdings in International Speedway by 0.4% during the 4th quarter. Paradice Investment Management LLC now owns 1,948,322 shares of the company’s stock worth $77,641,000 after purchasing an additional 8,016 shares during the period. Macquarie Group Ltd. increased its holdings in International Speedway by 7.2% during the 3rd quarter. Macquarie Group Ltd. now owns 1,470,023 shares of the company’s stock worth $52,920,000 after purchasing an additional 98,504 shares during the period. River Road Asset Management LLC increased its holdings in International Speedway by 2.1% during the 4th quarter. River Road Asset Management LLC now owns 686,395 shares of the company’s stock worth $27,353,000 after purchasing an additional 13,920 shares during the period. Geode Capital Management LLC increased its holdings in International Speedway by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 232,996 shares of the company’s stock worth $9,284,000 after purchasing an additional 6,712 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its holdings in International Speedway by 1.4% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 178,754 shares of the company’s stock worth $7,124,000 after purchasing an additional 2,481 shares during the period. Institutional investors own 52.03% of the company’s stock.
ISCA has been the topic of several recent research reports. BidaskClub downgraded International Speedway from a “hold” rating to a “sell” rating in a report on Tuesday, December 5th. Zacks Investment Research downgraded International Speedway from a “buy” rating to a “hold” rating in a report on Tuesday, December 19th. Finally, Citigroup increased their price objective on International Speedway from $31.00 to $40.00 and gave the company a “sell” rating in a report on Tuesday, February 6th.
International Speedway (NASDAQ:ISCA) last released its quarterly earnings data on Thursday, January 25th. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. International Speedway had a return on equity of 5.09% and a net margin of 16.50%. The business had revenue of $226.26 million for the quarter, compared to the consensus estimate of $222.36 million. During the same quarter in the prior year, the business posted $0.72 EPS. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. sell-side analysts forecast that International Speedway Corp will post 2.06 earnings per share for the current year.
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About International Speedway
International Speedway Corporation is an owner of motorsports entertainment facilities and promoter of motorsports themed entertainment activities in the United States. The Company’s motorsports themed event operations consist of racing events at its motorsports entertainment facilities. As of November 30, 2016, the Company owned and/or operated 13 of the nation’s motorsports entertainment facilities: Daytona International Speedway in Florida; Talladega Superspeedway in Alabama; Michigan International Speedway in Michigan; Auto Club Speedway of Southern California in California; Kansas Speedway in Kansas; Richmond International Raceway in Virginia; Darlington Raceway in South Carolina; Chicagoland Speedway in Illinois; Martinsville Speedway in Virginia; Phoenix International Raceway in Arizona; Homestead-Miami Speedway in Florida; Watkins Glen International in New York, and Route 66 Raceway in Illinois.
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