JPMorgan Chase & Co. Raises Holdings in Speedway Motorsports, Inc. (TRK)
JPMorgan Chase & Co. grew its position in Speedway Motorsports, Inc. (NYSE:TRK) by 1.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 216,149 shares of the company’s stock after buying an additional 3,010 shares during the quarter. JPMorgan Chase & Co. owned 0.53% of Speedway Motorsports worth $3,949,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of TRK. American International Group Inc. lifted its holdings in shares of Speedway Motorsports by 7.4% in the 1st 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 stake in shares of Speedway Motorsports in the 1st quarter worth $194,000. Algert Global LLC lifted its holdings in shares of Speedway Motorsports by 16.0% in the 2nd quarter. Algert Global LLC now owns 13,004 shares of the company’s stock worth $238,000 after buying an additional 1,796 shares during the period. Rhumbline Advisers lifted its holdings in shares of Speedway Motorsports by 6.0% in the 2nd quarter. Rhumbline Advisers now owns 17,401 shares of the company’s stock worth $318,000 after buying an additional 986 shares during the period. Finally, River Road Asset Management LLC purchased a new stake in shares of Speedway Motorsports in the 2nd quarter worth $367,000. Institutional investors and hedge funds own 22.39% of the company’s stock.
TRADEMARK VIOLATION WARNING: This piece was first published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international trademark and copyright legislation. The legal version of this piece can be accessed at https://www.thecerbatgem.com/2017/10/09/jpmorgan-chase-co-raises-holdings-in-speedway-motorsports-inc-trk.html.
Shares of Speedway Motorsports, Inc. (NYSE TRK) opened at 21.99 on Monday. The company’s 50 day moving average price is $20.89 and its 200-day moving average price is $19.27. Speedway Motorsports, Inc. has a 52 week low of $16.80 and a 52 week high of $22.28. The stock has a market capitalization of $901.61 million, a PE ratio of 22.98 and a beta of 0.86.
Speedway Motorsports (NYSE:TRK) last released its earnings results on Wednesday, July 26th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.05. The firm had revenue of $179.25 million during the quarter. Speedway Motorsports had a return on equity of 5.33% and a net margin of 7.66%. Equities research analysts predict that Speedway Motorsports, Inc. will post $0.98 EPS for the current year.
TRK has been the subject of several research reports. Zacks Investment Research cut Speedway Motorsports from a “hold” rating to a “sell” rating in a report on Saturday, July 15th. BidaskClub cut Speedway Motorsports from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, TheStreet upgraded Speedway Motorsports from a “c+” rating to a “b” rating in a research note on Wednesday, July 26th.
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.
Want to see what other hedge funds are holding TRK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Speedway Motorsports, Inc. (NYSE:TRK).
Receive News & Stock 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 stocks with our FREE daily email newsletter.