Short Interest Change: Is Buying Speedway Motorsports Incorporated (NYSE:TRK) Here Good Idea?

November 18, 2016 - By Darrin Black   ·   0 Comments

Short Interest Change: Is Buying Speedway Motorsports Incorporated (NYSE:TRK) Here Good Idea?

The stock of Speedway Motorsports Incorporated (NYSE:TRK) registered an increase of 16.73% in short interest. TRK’s total short interest was 192,600 shares in November as published by FINRA. Its up 16.73% from 165,000 shares, reported previously. With 18,000 shares average volume, it will take short sellers 11 days to cover their TRK’s short positions. The short interest to Speedway Motorsports Incorporated’s float is 1.65%. The stock increased 0.41% or $0.08 during the last trading session, hitting $19.42. Speedway Motorsports, Inc. (NYSE:TRK) has risen 6.76% since April 18, 2016 and is uptrending. It has outperformed by 2.33% the S&P500.

Speedway Motorsports, Inc. is engaged in promoting, marketing and sponsoring motorsports activities in the United States. The company has a market cap of $788.77 million. The Firm also provides event and non-event souvenir merchandising and distribution services, and food, beverage and hospitality catering services through its subsidiary, SMISC Holdings, Inc. It has a 24.24 P/E ratio. It provides radio programming, production and distribution; distributes wholesale and retail motorsports, and other sports-related souvenir merchandise and apparel, and makes and distributes smaller-scale, modified racing cars and parts.

Insitutional Activity: The institutional sentiment increased to 1.31 in Q2 2016. Its up 0.22, from 1.09 in 2016Q1. The ratio is positive, as 10 funds sold all Speedway Motorsports, Inc. shares owned while 23 reduced positions. 8 funds bought stakes while 28 increased positions. They now own 9.31 million shares or 3.50% more from 8.99 million shares in 2016Q1.
Diam Commerce Ltd holds 0.01% or 28,100 shares in its portfolio. Morgan Stanley holds 70,929 shares or 0% of its portfolio. Northern Tru has invested 0% of its portfolio in Speedway Motorsports, Inc. (NYSE:TRK). Goldman Sachs Group Inc, a New York-based fund reported 16,668 shares. Renaissance Ltd Liability Com owns 275,400 shares or 0.01% of their US portfolio. Amer Intll Gru Inc accumulated 0% or 6,766 shares. Metropolitan Life Insurance holds 0% or 9,753 shares in its portfolio. Blackrock Institutional Tru Na last reported 272,772 shares in the company. Blackrock Fund Advsr has 0% invested in the company for 277,539 shares. Centaur Capital Prns Ltd Partnership holds 3.34% or 130,000 shares in its portfolio. Marathon Prtn Equity Mngmt Lc accumulated 290,000 shares or 2.17% of the stock. Amer Century has 15,913 shares for 0% of their US portfolio. Wells Fargo & Mn last reported 0% of its portfolio in the stock. Royal Bank Of Canada last reported 100 shares in the company. Axa, a France-based fund reported 3,200 shares.

TRK Company Profile

Speedway Motorsports, Inc. (SMI), incorporated on December 20, 1994, is engaged in promoting, marketing and sponsoring motorsports activities in the United States. The Firm also provides event and non-event souvenir merchandising and distribution services, and food, beverage and hospitality catering services through its subsidiary, SMISC Holdings, Inc. (doing business as SMI Properties). The Company’s divisions include motorsports event related and all other. The Company, through its Performance Racing Network (PRN) subsidiary, provides radio programming, production and distribution. It distributes wholesale and retail motorsports, and other sports-related souvenir merchandise and apparel through its SMI Properties and SMI Trackside LLC (SMI Trackside) subsidiaries. It also makes and distributes smaller-scale, modified racing cars and parts through its subsidiary, US Legend Cars International, Inc. (Legend Cars). The Company, through its subsidiaries, owns and operates racing facilities, including Atlanta Motor Speedway (AMS), Bristol Motor Speedway (BMS), Charlotte Motor Speedway (CMS), Kentucky Speedway (KyS), Las Vegas Motor Speedway (LVMS), New Hampshire Motor Speedway (NHMS), Sonoma Raceway (SR) and Texas Motor Speedway (TMS).

More recent Speedway Motorsports, Inc. (NYSE:TRK) news were published by: Charlotteobserver.com which released: “Speedway Motorsports Inc. offering $10 tickets for kids at Cup races in 2017” on August 29, 2016. Also Businesswire.com published the news titled: “Speedway Motorsports, Inc. Schedules 2016 Third Quarter Earnings Conference Call” on October 21, 2016. Businesswire.com‘s news article titled: “Speedway Motorsports, Inc. Schedules 2016 Second Quarter Earnings Conference Call” with publication date: July 20, 2016 was also an interesting one.

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By Darrin Black


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