Cigna Investments Inc. New maintained its stake in shares of Speedway Motorsports, Inc. (NYSE:TRK) during the second quarter, Holdings Channel reports. The institutional investor owned 25,815 shares of the company’s stock at the end of the second quarter. Cigna Investments Inc. New’s holdings in Speedway Motorsports were worth $472,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in TRK. Vivaldi Capital Management LLC purchased a new position in shares of Speedway Motorsports during the first quarter valued at about $2,751,601,000. Alambic Investment Management L.P. raised its position in shares of Speedway Motorsports by 61.3% in the first quarter. Alambic Investment Management L.P. now owns 15,805 shares of the company’s stock valued at $298,000 after buying an additional 6,005 shares during the last quarter. North Star Investment Management Corp. raised its position in shares of Speedway Motorsports by 15.7% in the second quarter. North Star Investment Management Corp. now owns 90,540 shares of the company’s stock valued at $1,654,000 after buying an additional 12,300 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Speedway Motorsports by 2.1% in the first quarter. Prudential Financial Inc. now owns 88,976 shares of the company’s stock valued at $1,676,000 after buying an additional 1,793 shares during the last quarter. Finally, Citadel Advisors LLC purchased a new position in shares of Speedway Motorsports during the first quarter valued at about $433,000. Institutional investors own 21.76% of the company’s stock.

Speedway Motorsports, Inc. (NYSE:TRK) opened at 20.85 on Thursday. Speedway Motorsports, Inc. has a one year low of $16.80 and a one year high of $22.29. The company has a market cap of $854.87 million, a price-to-earnings ratio of 21.79 and a beta of 0.84. The firm has a 50-day moving average price of $19.45 and a 200 day moving average price of $19.21.

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

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Tuesday, August 15th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.88%. Speedway Motorsports’s dividend payout ratio (DPR) is 62.50%.

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Several research analysts have issued reports on TRK shares. Zacks Investment Research lowered Speedway Motorsports from a “hold” rating to a “sell” rating in a report on Saturday, July 15th. BidaskClub upgraded Speedway Motorsports from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. TheStreet upgraded Speedway Motorsports from a “c+” rating to a “b” rating in a report on Wednesday, July 26th. Finally, Macquarie upgraded Speedway Motorsports from an “underperform” rating to a “neutral” rating in a 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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