Speedway Motorsports, Inc. (NYSE:TRK) was the target of a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 87,000 shares, a growth of 52.9% from the April 30th total of 56,900 shares. Approximately 0.8% of the company’s stock are short sold. Based on an average daily volume of 64,300 shares, the short-interest ratio is currently 1.4 days.
Shares of Speedway Motorsports stock traded down $0.34 on Monday, reaching $18.24. The stock had a trading volume of 1,518 shares, compared to its average volume of 35,543. The firm’s 50 day moving average price is $18.37. The company has a quick ratio of 1.48, a current ratio of 1.58 and a debt-to-equity ratio of 0.21. Speedway Motorsports has a 1 year low of $13.47 and a 1 year high of $18.84. The stock has a market cap of $758.76 million, a PE ratio of 18.23 and a beta of 0.97.
Speedway Motorsports (NYSE:TRK) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.29. Speedway Motorsports had a net margin of 10.63% and a return on equity of 5.62%. The firm had revenue of $107.89 million for the quarter, compared to the consensus estimate of $74.35 million. As a group, equities research analysts anticipate that Speedway Motorsports will post 0.95 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date was Tuesday, May 14th. Speedway Motorsports’s payout ratio is currently 60.00%.
A number of research analysts have commented on TRK shares. Zacks Investment Research downgraded shares of Speedway Motorsports from a “buy” rating to a “hold” rating in a research report on Friday, March 8th. TheStreet downgraded shares of Speedway Motorsports from a “b” rating to a “c+” rating in a research report on Thursday, March 14th. Finally, ValuEngine downgraded shares of Speedway Motorsports from a “hold” rating to a “sell” rating in a research report on Monday, April 1st.
Several institutional investors have recently modified their holdings of the company. Prudential Financial Inc. grew its position in shares of Speedway Motorsports by 1.5% in the 4th quarter. Prudential Financial Inc. now owns 75,135 shares of the company’s stock worth $1,222,000 after buying an additional 1,111 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Speedway Motorsports by 5.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 24,625 shares of the company’s stock worth $401,000 after buying an additional 1,300 shares during the last quarter. Millennium Management LLC grew its position in shares of Speedway Motorsports by 4.4% in the 4th quarter. Millennium Management LLC now owns 32,078 shares of the company’s stock worth $522,000 after buying an additional 1,362 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in shares of Speedway Motorsports by 285.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,638 shares of the company’s stock worth $38,000 after buying an additional 1,954 shares during the last quarter. Finally, Carroll Financial Associates Inc. grew its position in shares of Speedway Motorsports by 30.8% in the 1st quarter. Carroll Financial Associates Inc. now owns 8,546 shares of the company’s stock worth $123,000 after buying an additional 2,013 shares during the last quarter. 21.19% of the stock is currently owned by hedge funds and other institutional investors.
COPYRIGHT VIOLATION NOTICE: “Speedway Motorsports, Inc. (NYSE:TRK) Short Interest Update” was originally posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this piece of content on another site, it was illegally copied and republished in violation of US and international trademark and copyright laws. The original version of this piece of content can be viewed at https://www.dispatchtribunal.com/2019/06/17/speedway-motorsports-inc-nysetrk-short-interest-update.html.
About Speedway Motorsports
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.
Further Reading: How is the discount rate different from the Federal Funds rate?
Receive News & Ratings for Speedway Motorsports Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Speedway Motorsports and related companies with MarketBeat.com's FREE daily email newsletter.