Algert Global LLC bought a new stake in Speedway Motorsports, Inc. (NYSE:TRK) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 14,201 shares of the company’s stock, valued at approximately $268,000.
A number of other hedge funds also recently modified their holdings of TRK. Carroll Financial Associates Inc. raised its holdings in shares of Speedway Motorsports by 1,770.9% during the third quarter. Carroll Financial Associates Inc. now owns 4,958 shares of the company’s stock valued at $107,000 after buying an additional 4,693 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Speedway Motorsports by 7.5% during the second quarter. The Manufacturers Life Insurance Company now owns 11,721 shares of the company’s stock worth $214,000 after purchasing an additional 821 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Speedway Motorsports by 2.2% during the second quarter. Wells Fargo & Company MN now owns 12,803 shares of the company’s stock worth $234,000 after purchasing an additional 279 shares in the last quarter. Macquarie Group Ltd. bought a new stake in Speedway Motorsports during the third quarter worth approximately $279,000. Finally, Trexquant Investment LP bought a new stake in Speedway Motorsports during the third quarter worth approximately $343,000. Institutional investors own 21.18% of the company’s stock.
Several equities analysts have weighed in on TRK shares. Zacks Investment Research upgraded shares of Speedway Motorsports from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research report on Wednesday, January 31st. TheStreet cut shares of Speedway Motorsports from a “b” rating to a “c+” rating in a report on Wednesday, October 25th.
Shares of Speedway Motorsports, Inc. (NYSE:TRK) opened at $19.38 on Tuesday. The stock has a market cap of $802.56, a price-to-earnings ratio of 21.07, a P/E/G ratio of -4.88 and a beta of 1.04. The company has a quick ratio of 1.33, a current ratio of 1.42 and a debt-to-equity ratio of 0.28. Speedway Motorsports, Inc. has a 52 week low of $16.80 and a 52 week high of $23.47.
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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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