Speedway Motorsports, Inc. (TRK) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System cut its position in shares of Speedway Motorsports, Inc. (NYSE:TRK) by 1.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,900 shares of the company’s stock after selling 700 shares during the period. California Public Employees Retirement System owned about 0.09% of Speedway Motorsports worth $714,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TRK. American International Group Inc. boosted its position in Speedway Motorsports by 7.4% in the first quarter. American International Group Inc. now owns 7,255 shares of the company’s stock worth $137,000 after buying an additional 498 shares during the period. Spark Investment Management LLC purchased a new position in Speedway Motorsports during the first quarter worth about $194,000. Algert Global LLC purchased a new position in Speedway Motorsports during the first quarter worth about $211,000. Alambic Investment Management L.P. boosted its position in Speedway Motorsports by 61.3% in the first quarter. Alambic Investment Management L.P. now owns 15,805 shares of the company’s stock worth $298,000 after buying an additional 6,005 shares during the period. Finally, Neuberger Berman Group LLC boosted its position in Speedway Motorsports by 184.4% in the first quarter. Neuberger Berman Group LLC now owns 28,480 shares of the company’s stock worth $537,000 after buying an additional 18,466 shares during the period. Institutional investors own 21.76% of the company’s stock.

Speedway Motorsports, Inc. (NYSE:TRK) traded down 0.05% on Friday, reaching $20.69. 9,208 shares of the company traded hands. Speedway Motorsports, Inc. has a 52-week low of $16.80 and a 52-week high of $22.29. The company has a market capitalization of $848.31 million, a PE ratio of 21.62 and a beta of 0.84. The stock has a 50-day moving average of $19.52 and a 200 day moving average of $19.22.

Speedway Motorsports (NYSE:TRK) last issued its earnings results on Wednesday, July 26th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. The firm had revenue of $179.25 million for the quarter. Speedway Motorsports had a net margin of 7.66% and a return on equity of 5.33%. On average, equities analysts forecast that Speedway Motorsports, Inc. will post $1.00 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Tuesday, August 15th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Friday, August 11th. Speedway Motorsports’s payout ratio is currently 62.50%.

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A number of research analysts have recently issued reports on TRK shares. TheStreet upgraded shares of Speedway Motorsports from a “c+” rating to a “b” rating in a research note on Wednesday, July 26th. BidaskClub upgraded shares of Speedway Motorsports from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. Zacks Investment Research upgraded shares of Speedway Motorsports from a “sell” rating to a “hold” rating and set a $24.00 price objective for the company in a research report on Thursday, July 27th. Finally, Macquarie upgraded shares of Speedway Motorsports from an “underperform” rating to a “neutral” rating in a research report on Friday, May 5th. They noted that the move was a valuation call.

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

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