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Hedge Funds Are Buying Speedway Motorsports, Inc. (TRK)

We at Insider Monkey have gone over 700 13F filings that hedge funds and prominent investors are required to file by the government. The 13F filings show the funds’ and investors’ portfolio positions as of September 30. In this article we look at what those investors think of Speedway Motorsports, Inc. (NYSE:TRK).

Is Speedway Motorsports, Inc. a buy, sell, or hold? The best stock pickers are buying. The number of long hedge fund positions advanced by 5 recently. TRK was in 15 hedge funds’ portfolios at the end of September. There were 10 hedge funds in our database with TRK holdings at the end of the previous quarter. At the end of this article we will also compare TRK to other stocks, including Bona Film Group Ltd (ADR) (NASDAQ:BONA), Hecla Mining Company (NYSE:HL), and Cash America International, Inc. (NYSE:CSH) to get a better sense of its popularity.

Follow Speedway Motorsports Llc (NYSE:TRK)
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Now, let’s view the fresh action regarding Speedway Motorsports, Inc. (NYSE:TRK).

What does the smart money think about Speedway Motorsports, Inc. (NYSE:TRK)?

At the end of the third quarter, a total of 15 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 50% from the previous quarter. With the smart money’s capital changing hands, there exists a select group of noteworthy hedge fund managers who were upping their holdings considerably (or already accumulated large positions).

Of the funds tracked by Insider Monkey, Zeke Ashton’s Centaur Capital Partners has the largest position in Speedway Motorsports, Inc. (NYSE:TRK), worth close to $3.8 million, comprising 5.8% of its total 13F portfolio. On Centaur Capital Partners’s heels is Marathon Partners, led by Mario Cibelli, holding a $3.2 million position; 1.4% of its 13F portfolio is allocated to the stock. Remaining professional money managers with similar optimism consist of Jim Simons’ Renaissance Technologies, Joel Greenblatt’s Gotham Asset Management and J. Carlo Cannell’s Cannell Capital.

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