Zacks Investment Research downgraded shares of International Speedway (NASDAQ:ISCA) from a buy rating to a hold rating in a research report report published on Tuesday, December 19th.
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 research analysts have also weighed in on the stock. Citigroup reaffirmed a sell rating and set a $31.00 target price (up previously from $30.00) on shares of International Speedway in a research note on Monday, October 9th. BidaskClub lowered shares of International Speedway from a hold rating to a sell rating in a research note on Tuesday, December 5th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. International Speedway presently has a consensus rating of Hold and an average target price of $38.50.
Several hedge funds and other institutional investors have recently bought and sold shares of ISCA. AXA raised its holdings in International Speedway by 571.9% in the third quarter. AXA now owns 145,800 shares of the company’s stock valued at $5,249,000 after acquiring an additional 124,100 shares in the last quarter. GSA Capital Partners LLP raised its holdings in International Speedway by 92.9% in the third quarter. GSA Capital Partners LLP now owns 66,421 shares of the company’s stock valued at $2,391,000 after acquiring an additional 31,987 shares in the last quarter. California Public Employees Retirement System raised its holdings in International Speedway by 8.7% in the third quarter. California Public Employees Retirement System now owns 59,906 shares of the company’s stock valued at $2,157,000 after acquiring an additional 4,806 shares in the last quarter. KBC Group NV raised its holdings in International Speedway by 47.3% in the third quarter. KBC Group NV now owns 22,702 shares of the company’s stock valued at $817,000 after acquiring an additional 7,287 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its holdings in International Speedway by 7.8% in the third quarter. Schwab Charles Investment Management Inc. now owns 176,273 shares of the company’s stock valued at $6,346,000 after acquiring an additional 12,770 shares in the last quarter. 50.37% of the stock is owned by institutional investors and hedge funds.
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International Speedway Company Profile
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