Today: First Trust Advisors LP Acquires Shares of 16,905 Speedway Motorsports Inc. (TRK)

Today: First Trust Advisors LP Acquires Shares of 16,905 Speedway Motorsports Inc. (TRK)

First Trust Advisors LP bought a new position in shares of Speedway Motorsports Inc. (NYSE:TRK) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 16,905 shares of the company’s stock, valued at approximately $300,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of TRK. American Century Companies Inc. raised its position in Speedway Motorsports by 2.9% in the second quarter. American Century Companies Inc. now owns 15,913 shares of the company’s stock worth $282,000 after buying an additional 453 shares in the last quarter. Strs Ohio increased its stake in shares of Speedway Motorsports by 11.5% in the second quarter. Strs Ohio now owns 34,900 shares of the company’s stock worth $619,000 after buying an additional 3,600 shares during the last quarter. Prudential Financial Inc. increased its stake in shares of Speedway Motorsports by 8.8% in the first quarter. Prudential Financial Inc. now owns 80,383 shares of the company’s stock worth $1,594,000 after buying an additional 6,500 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Speedway Motorsports by 1.9% in the first quarter. Geode Capital Management LLC now owns 89,456 shares of the company’s stock worth $1,773,000 after buying an additional 1,658 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Speedway Motorsports by 6.9% in the second quarter. Bank of New York Mellon Corp now owns 167,614 shares of the company’s stock worth $2,975,000 after buying an additional 10,852 shares during the last quarter. Institutional investors own 22.12% of the company’s stock.

Shares of Speedway Motorsports Inc. (NYSE:TRK) traded down 0.11% during mid-day trading on Friday, hitting $17.42. The company had a trading volume of 11,886 shares. Speedway Motorsports Inc. has a 52 week low of $16.62 and a 52 week high of $21.32. The firm has a market capitalization of $716.69 million, a PE ratio of 23.29 and a beta of 0.80. The firm has a 50-day moving average price of $17.73 and a 200-day moving average price of $17.88.

Speedway Motorsports (NYSE:TRK) last announced its earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by $0.10. The company had revenue of $175.70 million for the quarter, compared to analysts’ expectations of $179.30 million. Speedway Motorsports had a net margin of 6.26% and a return on equity of 4.86%. Equities analysts forecast that Speedway Motorsports Inc. will post $0.98 earnings per share for the current year.

TRK has been the subject of a number of research analyst reports. TheStreet raised Speedway Motorsports from a “hold” rating to a “buy” rating in a research report on Wednesday, July 27th. Zacks Investment Research raised Speedway Motorsports from a “sell” rating to a “hold” rating in a research report on Thursday, September 15th.

Speedway Motorsports Company Profile

Speedway Motorsports, Inc is engaged in promoting, marketing and sponsoring motorsports activities in the United States. The Company also provides event and non-event souvenir merchandising and distribution services, and food, beverage and hospitality catering services through its subsidiary, SMISC Holdings, Inc It provides radio programming, production and distribution; distributes wholesale and retail motorsports, and other sports-related souvenir merchandise and apparel, and manufactures and distributes smaller-scale, modified racing cars and parts.

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