According to Zacks, “International Speedway Corporation is a leading promoter of motorsports activities, currently promoting more than 100 racing events annually as well as numerous other motorsports-related activities. The Company owns and/or operates 13 of the nation’s major motorsports entertainment facilities, including Daytona International Speedway in Florida (home of the DAYTONA 500); Talladega Superspeedway in Alabama; Michigan International Speedway located outside Detroit; Richmond Raceway in Virginia; Auto Club Speedway of Southern CaliforniaSM near Los Angeles; Kansas Speedway in Kansas City, Kansas; Phoenix Raceway in Arizona; Chicagoland Speedway and Route 66 RacewaySM near Chicago, Illinois; Darlington Raceway in South Carolina; and Watkins Glen International in New York. The Company also owns and operates Motor Racing NetworkSM, the nation’s largest independent sports radio network and Americrown Service CorporationSM, a subsidiary that provides catering services, and food and beverage concessions. “
Several other brokerages have also weighed in on ISCA. ValuEngine lowered International Speedway from a buy rating to a hold rating in a research report on Thursday, August 1st. BidaskClub raised International Speedway from a hold rating to a buy rating in a research report on Tuesday, August 6th. Finally, Wells Fargo & Co lowered International Speedway from a market perform rating to an underperform rating and set a $41.00 target price on the stock. in a research report on Monday, July 15th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $33.50.
International Speedway (NASDAQ:ISCA) last issued its quarterly earnings results on Wednesday, July 3rd. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). International Speedway had a return on equity of 4.82% and a net margin of 11.27%. The business had revenue of $168.10 million for the quarter, compared to analysts’ expectations of $178.99 million. During the same period in the prior year, the company earned $0.37 EPS. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. Equities research analysts anticipate that International Speedway will post 1.89 EPS for the current year.
In related news, VP Derek Muldowney sold 2,594 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $45.12, for a total value of $117,041.28. Following the transaction, the vice president now directly owns 9,778 shares of the company’s stock, valued at approximately $441,183.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 44.70% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Quadrant Capital Group LLC increased its holdings in International Speedway by 2,997.4% in 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. Krane Funds Advisors LLC acquired a new stake in International Speedway in the 2nd quarter valued at $58,000. Tower Research Capital LLC TRC increased its holdings in International Speedway by 1,377.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,359 shares of the company’s stock valued at $61,000 after purchasing an additional 1,267 shares in the last quarter. Quantamental Technologies LLC acquired a new stake in International Speedway in the 2nd quarter valued at $64,000. Finally, Dupont Capital Management Corp increased its holdings in International Speedway by 145.1% in 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. 50.68% of the stock is currently owned by institutional investors and hedge funds.
International Speedway Company 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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