Speedway Motorsports, Inc. (TRK) Position Raised by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its holdings in shares of Speedway Motorsports, Inc. (NYSE:TRK) by 7.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,721 shares of the company’s stock after purchasing an additional 821 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Speedway Motorsports were worth $214,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Speedway Motorsports by 4.0% in the first quarter. Vanguard Group Inc. now owns 973,947 shares of the company’s stock valued at $18,349,000 after buying an additional 37,153 shares during the last quarter. Geode Capital Management LLC lifted its stake in Speedway Motorsports by 3.5% in the first quarter. Geode Capital Management LLC now owns 98,045 shares of the company’s stock valued at $1,847,000 after buying an additional 3,270 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Speedway Motorsports by 5.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 44,140 shares of the company’s stock valued at $832,000 after buying an additional 2,223 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Speedway Motorsports by 60.1% in the first quarter. Goldman Sachs Group Inc. now owns 31,063 shares of the company’s stock valued at $585,000 after buying an additional 11,665 shares during the last quarter. Finally, Strs Ohio lifted its stake in Speedway Motorsports by 4.0% in the second quarter. Strs Ohio now owns 33,700 shares of the company’s stock valued at $615,000 after buying an additional 1,300 shares during the last quarter. Hedge funds and other institutional investors own 21.18% of the company’s stock.

In other news, Director Mark M. Gambill sold 12,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 40,428 shares in the company, valued at $808,560. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 72.00% of the stock is owned by corporate insiders.

Shares of Speedway Motorsports, Inc. (TRK) traded down $0.23 during midday trading on Friday, reaching $19.43. The company’s stock had a trading volume of 28,472 shares, compared to its average volume of 32,902. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.33 and a current ratio of 1.42. Speedway Motorsports, Inc. has a one year low of $16.80 and a one year high of $23.47. The stock has a market capitalization of $796.01, a PE ratio of 20.89, a P/E/G ratio of -5.71 and a beta of 0.87.

Speedway Motorsports (NYSE:TRK) last issued its quarterly earnings data on Wednesday, October 25th. The company reported $0.22 earnings per share for the quarter, missing the Zacks’ 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 firm had revenue of $137.61 million during the quarter, compared to analysts’ expectations of $141.79 million. equities analysts predict that Speedway Motorsports, Inc. will post 0.95 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 10th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend was Thursday, November 9th. Speedway Motorsports’s dividend payout ratio (DPR) is presently 70.59%.

A number of brokerages have weighed in on TRK. Zacks Investment Research cut Speedway Motorsports from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. TheStreet cut Speedway Motorsports from a “b” rating to a “c+” rating in a research note on Wednesday, October 25th.

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Speedway Motorsports 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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Institutional Ownership by Quarter for Speedway Motorsports (NYSE:TRK)

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