Trexquant Investment LP Purchases Shares of 16,083 Speedway Motorsports, Inc. (NYSE:TRK)

Trexquant Investment LP bought a new position in shares of Speedway Motorsports, Inc. (NYSE:TRK) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 16,083 shares of the company’s stock, valued at approximately $343,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TRK. Carroll Financial Associates Inc. lifted its holdings in shares of Speedway Motorsports by 1,770.9% during the 3rd quarter. Carroll Financial Associates Inc. now owns 4,958 shares of the company’s stock valued at $107,000 after acquiring an additional 4,693 shares in the last quarter. American International Group Inc. lifted its holdings in shares of Speedway Motorsports by 7.4% during the 1st quarter. American International Group Inc. now owns 7,255 shares of the company’s stock valued at $137,000 after acquiring an additional 498 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Speedway Motorsports by 7.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,721 shares of the company’s stock valued at $214,000 after acquiring an additional 821 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Speedway Motorsports by 2.2% during the 2nd quarter. Wells Fargo & Company MN now owns 12,803 shares of the company’s stock valued at $234,000 after acquiring an additional 279 shares in the last quarter. Finally, Algert Global LLC lifted its holdings in shares of Speedway Motorsports by 16.0% during the 2nd quarter. Algert Global LLC now owns 13,004 shares of the company’s stock valued at $238,000 after acquiring an additional 1,796 shares in the last quarter. Hedge funds and other institutional investors own 21.18% of the company’s stock.

Speedway Motorsports, Inc. (TRK) traded up $0.33 during midday trading on Thursday, hitting $19.78. 38,000 shares of the stock traded hands, compared to its average volume of 43,291. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.42 and a quick ratio of 1.33. The firm has a market cap of $796.82, a price-to-earnings ratio of 20.91, a PEG ratio of -5.72 and a beta of 0.87. Speedway Motorsports, Inc. has a 1-year low of $16.80 and a 1-year high of $23.47.

Speedway Motorsports (NYSE:TRK) last posted its earnings results on Wednesday, October 25th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.06). The firm had revenue of $137.61 million for the quarter, compared to analyst estimates of $141.79 million. Speedway Motorsports had a net margin of 7.26% and a return on equity of 4.79%. equities research analysts expect that Speedway Motorsports, Inc. will post 0.95 earnings per share 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 $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend was Thursday, November 9th. Speedway Motorsports’s dividend payout ratio is currently 70.59%.

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 shares were sold at an average price of $20.00, for a total value of $240,000.00. Following the completion of the sale, the director now directly owns 40,428 shares of the company’s stock, valued at approximately $808,560. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 72.00% of the company’s stock.

TRK has been the subject of several research analyst reports. Zacks Investment Research downgraded shares of Speedway Motorsports from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. TheStreet downgraded shares of Speedway Motorsports from a “b” rating to a “c+” rating in a research report 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.

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

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