Speedway Motorsports, Inc. (TRK) Shares Sold by Marathon Partners Equity Management LLC

Marathon Partners Equity Management LLC trimmed its holdings in shares of Speedway Motorsports, Inc. (NYSE:TRK) by 54.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 160,000 shares of the company’s stock after selling 190,000 shares during the period. Speedway Motorsports makes up approximately 1.5% of Marathon Partners Equity Management LLC’s holdings, making the stock its 21st largest position. Marathon Partners Equity Management LLC owned approximately 0.39% of Speedway Motorsports worth $3,408,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in TRK. Vanguard Group Inc. lifted its holdings in shares of Speedway Motorsports by 4.0% during the first quarter. Vanguard Group Inc. now owns 973,947 shares of the company’s stock valued at $18,349,000 after purchasing an additional 37,153 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Speedway Motorsports by 3.5% during the first quarter. Geode Capital Management LLC now owns 98,045 shares of the company’s stock valued at $1,847,000 after purchasing an additional 3,270 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Speedway Motorsports by 5.3% during the first quarter. Schwab Charles Investment Management Inc. now owns 44,140 shares of the company’s stock valued at $832,000 after purchasing an additional 2,223 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Speedway Motorsports by 60.1% during the first quarter. Goldman Sachs Group Inc. now owns 31,063 shares of the company’s stock valued at $585,000 after purchasing an additional 11,665 shares during the last quarter. Finally, Strs Ohio raised its holdings in Speedway Motorsports by 4.0% in the 2nd quarter. Strs Ohio now owns 33,700 shares of the company’s stock worth $615,000 after acquiring an additional 1,300 shares during the last quarter. Hedge funds and other institutional investors own 21.18% of the company’s stock.

Shares of Speedway Motorsports, Inc. (NYSE TRK) remained flat at $$19.36 during midday trading on Thursday. The company had a trading volume of 30,600 shares, compared to its average volume of 43,466. Speedway Motorsports, Inc. has a 1 year low of $16.80 and a 1 year high of $23.47. The company has a market capitalization of $793.13, a PE ratio of 20.82, a price-to-earnings-growth ratio of -5.69 and a beta of 0.87. The company has a current ratio of 1.42, a quick ratio of 1.33 and a debt-to-equity ratio of 0.28.

Speedway Motorsports (NYSE:TRK) last announced its quarterly earnings data on Wednesday, October 25th. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.06). Speedway Motorsports had a return on equity of 4.79% and a net margin of 7.26%. The firm had revenue of $137.61 million during the quarter, compared to analysts’ expectations of $141.79 million. equities research analysts anticipate that Speedway Motorsports, Inc. will post 0.95 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 10th were issued a $0.15 dividend. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $0.60 dividend on an annualized basis and a yield of 3.10%. Speedway Motorsports’s payout ratio is currently 70.59%.

In other Speedway Motorsports news, Director Mark M. Gambill sold 12,000 shares of Speedway Motorsports stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $20.00, for a total value of $240,000.00. Following the completion of the sale, the director now owns 40,428 shares of the company’s stock, valued at approximately $808,560. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 72.00% of the company’s stock.

A number of brokerages recently weighed in on TRK. Zacks Investment Research lowered shares of Speedway Motorsports from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. TheStreet lowered shares of Speedway Motorsports from a “b” rating to a “c+” rating in a report on Wednesday, October 25th.

TRADEMARK VIOLATION NOTICE: This piece of content was published by The Lincolnian Online and is owned by of The Lincolnian Online. If you are reading this piece of content on another site, it was stolen and reposted in violation of U.S. & international trademark & copyright legislation. The legal version of this piece of content can be viewed at https://www.thelincolnianonline.com/2017/12/07/speedway-motorsports-inc-trk-shares-sold-by-marathon-partners-equity-management-llc.html.

About Speedway Motorsports

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.

Institutional Ownership by Quarter for Speedway Motorsports (NYSE:TRK)

Receive News & Ratings for Speedway Motorsports Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Speedway Motorsports Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply