Traders are feeling more bearish recently as indicated by the uptick in short interest. The stock realized a rise in short interest between August 15, 2017 and August 31, 2017 of 11.16%. Short interest grew from 123,228 to 136,984 over that timeframe. The days to cover decreased to 4.0 and the percentage of shorted shares is 0.00% as of August 31.
Additionally, here are a few investment firms who have increased or decreased their stake in (TRK). As of the end of the quarter Cwa Asset Management Group, LLC had acquired 1,957 shares growing its position 3.0%. The value of the investment in (TRK) decreased from $1,233,000 to $1,232,000 a change of 0.1% since the last quarter. As of quarter end Ubs Group Ag had bought a total of 4,669 shares growing its holdings by 1,423.5%. The value in dollars went from $6,000 to $91,000 increasing 1,416.7% quarter over quarter.
As of quarter end Potrero Capital Research LLC had bought a total of 23,767 shares growing its stake by 9.0%. The value of the investment in Speedway Motorsports, Inc. increased from $4,990,000 to $5,273,000 a change of $283,000 for the reporting period. Two Sigma Advisers, Lp divested its investment by shedding 900 shares a decrease of 4.7%. Two Sigma Advisers, Lp controls 18,424 shares valued at $337,000. The value of the position overall is down by 7.4%.
The company is so far trading down from yesterday’s close of 20.43. Additionally Speedway Motorsports, Inc. recently declared a dividend for shareholders which was paid on Tuesday September 5th, 2017. The dividend was $0.150 per share for the quarter or $0.60 on an annualized basis. The dividend yield was $2.93. The ex-dividend date was set for Friday the 11th of August 2017.
Shares of the company are trading at $20.35 which is marginally under the 50 day moving average which is $20.91 and which is marginally over the 200 day moving average of $19.06. The 50 day moving average went down by -2.69% and the 200 day average was up $1.29.
The company currently has a P/E ratio of 21.26 and the market value is 834.37M. As of the last earnings report the EPS was $0.96 and is expected to be $1.00 for the current year with 41,001,000 shares currently outstanding. Next quarter’s EPS is forecasted at $-0.01 with next year’s EPS anticipated to be $1.00.
Speedway Motorsports, Inc. (SMI), launched on December 20, 1994, through its operating subsidiaries, is a promoter, marketer and sponsor of motorsports activities in the United States. The Business’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. Its segments include motorsports event related and all other. Its motorsports event related segment consists of National Association for Stock Car Auto Racing, Inc. (NASCAR) broadcasting and event motorsports merchandising activities. The motorsports event related segment includes motorsports related events and operations for all the Company speedways, NASCAR broadcasting and ancillary media rights, Performance Racing Network (PRN), and Speedway Motorsports, Inc. (SMI) Properties and SMI Trackside motorsports merchandising at Company and non-Company speedways..