Swiss National Bank decreased its position in International Speedway Corp (NASDAQ:ISCA) by 0.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,200 shares of the company’s stock after selling 400 shares during the period. Swiss National Bank’s holdings in International Speedway were worth $1,984,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. Quadrant Capital Group LLC lifted its holdings in shares of International Speedway by 2,997.4% during the 1st quarter. Quadrant Capital Group LLC now owns 1,177 shares of the company’s stock valued at $49,000 after purchasing an additional 1,139 shares in the last quarter. Dupont Capital Management Corp lifted its holdings in shares of International Speedway by 145.1% during the 1st quarter. Dupont Capital Management Corp now owns 1,689 shares of the company’s stock valued at $74,000 after purchasing an additional 1,000 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of International Speedway during the 1st quarter valued at about $201,000. BNP Paribas Arbitrage SA lifted its holdings in shares of International Speedway by 1,248.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,935 shares of the company’s stock valued at $215,000 after purchasing an additional 4,569 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of International Speedway by 4.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 6,231 shares of the company’s stock valued at $280,000 after purchasing an additional 283 shares in the last quarter. Institutional investors and hedge funds own 50.13% of the company’s stock.
Several equities analysts have recently weighed in on the company. BidaskClub cut International Speedway from a “buy” rating to a “hold” rating in a report on Tuesday, August 20th. Zacks Investment Research cut International Speedway from a “hold” rating to a “sell” rating in a report on Friday, August 30th. ValuEngine cut International Speedway from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Co cut International Speedway from a “market perform” rating to an “underperform” rating and set a $41.00 price objective on the stock. in a report on Monday, July 15th. Three equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. International Speedway has a consensus rating of “Hold” and an average price target of $33.50.
In other International Speedway news, VP Derek Muldowney sold 2,594 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $45.12, for a total transaction of $117,041.28. Following the transaction, the vice president now owns 9,778 shares of the company’s stock, valued at approximately $441,183.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 44.70% of the stock is owned by insiders.
International Speedway stock traded down $0.02 during midday trading on Friday, reaching $45.00. The stock had a trading volume of 335 shares, compared to its average volume of 110,164. The firm’s fifty day simple moving average is $45.15 and its 200-day simple moving average is $44.36. International Speedway Corp has a 1-year low of $35.12 and a 1-year high of $45.62. The stock has a market capitalization of $1.96 billion, a P/E ratio of 24.34, a price-to-earnings-growth ratio of 7.94 and a beta of 0.65. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.77 and a current ratio of 2.77.
International Speedway (NASDAQ:ISCA) last announced its earnings results on Wednesday, July 3rd. The company reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.03). International Speedway had a net margin of 11.27% and a return on equity of 4.82%. The firm had revenue of $168.10 million during the quarter, compared to analyst estimates of $178.99 million. During the same period in the prior year, the business posted $0.37 EPS. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. On average, sell-side analysts anticipate that International Speedway Corp will post 1.89 earnings per share for the current fiscal year.
International Speedway Profile
International Speedway Corporation, together with its subsidiaries, promotes motorsports themed entertainment activities in the United States. Its motorsports themed event operations consist principally of racing events at its motorsports entertainment facilities, which promote approximately 100 stock car, open wheel, sports car, truck, motorcycle, and other racing events.
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