Algert Global LLC bought a new position in shares of Speedway Motorsports, Inc. (NYSE:TRK) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 14,201 shares of the company’s stock, valued at approximately $268,000.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Wells Fargo & Company MN lifted its holdings in shares of 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 during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of 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 during the period. Rhumbline Advisers lifted its holdings in shares of Speedway Motorsports by 6.0% during the second quarter. Rhumbline Advisers now owns 17,401 shares of the company’s stock worth $318,000 after purchasing an additional 986 shares during the period. Citadel Advisors LLC lifted its holdings in shares of Speedway Motorsports by 6.6% during the second quarter. Citadel Advisors LLC now owns 24,488 shares of the company’s stock worth $447,000 after purchasing an additional 1,521 shares during the period. Finally, Nationwide Fund Advisors lifted its holdings in shares of Speedway Motorsports by 10.9% during the second quarter. Nationwide Fund Advisors now owns 20,611 shares of the company’s stock worth $377,000 after purchasing an additional 2,030 shares during the period. 21.76% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on TRK. Zacks Investment Research downgraded Speedway Motorsports from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. TheStreet downgraded Speedway Motorsports from a “b” rating to a “c+” rating in a report on Wednesday, October 25th.
Speedway Motorsports, Inc. (NYSE:TRK) opened at $20.13 on Wednesday. Speedway Motorsports, Inc. has a twelve month low of $16.80 and a twelve month high of $23.47. The stock has a market capitalization of $824.68, a P/E ratio of 23.68, a price-to-earnings-growth ratio of 3.55 and a beta of 1.04. 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 also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Wednesday, February 28th. Speedway Motorsports’s dividend payout ratio (DPR) is presently 70.59%.
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Speedway Motorsports Company 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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