Speedway Motorsports (TRK) Reaches New 1-Year Low at $16.26

Shares of Speedway Motorsports, Inc. (NYSE:TRK) reached a new 52-week low on Thursday . The stock traded as low as $16.26 and last traded at $16.31, with a volume of 300 shares traded. The stock had previously closed at $16.64.

Several analysts have weighed in on the stock. ValuEngine raised shares of Speedway Motorsports from a “sell” rating to a “hold” rating in a research report on Thursday, July 5th. Zacks Investment Research raised shares of Speedway Motorsports from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 28th.

The stock has a market capitalization of $730.05 million, a price-to-earnings ratio of 18.03, a P/E/G ratio of 3.09 and a beta of 1.00. The company has a current ratio of 1.32, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21.

Speedway Motorsports (NYSE:TRK) last released its earnings results on Wednesday, August 1st. The company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.04). The company had revenue of $165.85 million for the quarter, compared to analysts’ expectations of $178.21 million. Speedway Motorsports had a return on equity of 4.07% and a net margin of 33.47%. On average, analysts anticipate that Speedway Motorsports, Inc. will post 1.05 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Speedway Motorsports by 73.9% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,525 shares of the company’s stock valued at $356,000 after acquiring an additional 8,725 shares during the last quarter. Citadel Advisors LLC purchased a new stake in shares of Speedway Motorsports in the 2nd quarter valued at $553,000. Strs Ohio boosted its holdings in shares of Speedway Motorsports by 9.8% in the 2nd quarter. Strs Ohio now owns 34,600 shares of the company’s stock valued at $600,000 after acquiring an additional 3,100 shares during the last quarter. Balter Liquid Alternatives LLC boosted its holdings in shares of Speedway Motorsports by 203.1% in the 2nd quarter. Balter Liquid Alternatives LLC now owns 40,465 shares of the company’s stock valued at $701,000 after acquiring an additional 27,116 shares during the last quarter. Finally, First Quadrant L P CA boosted its holdings in shares of Speedway Motorsports by 114.1% in the 2nd quarter. First Quadrant L P CA now owns 58,147 shares of the company’s stock valued at $1,009,000 after acquiring an additional 30,992 shares during the last quarter. 21.69% of the stock is currently owned by institutional investors and hedge funds.

About Speedway Motorsports (NYSE:TRK)

Speedway Motorsports, Inc, through its subsidiaries, promotes, markets, and sponsors motorsports activities in the United States. The company owns and operates eight racing facilities, including Atlanta Motor Speedway, Bristol Motor Speedway, Charlotte Motor Speedway, Kentucky Speedway, Las Vegas Motor Speedway, New Hampshire Motor Speedway, Sonoma Raceway, and Texas Motor Speedway racing facilities.

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