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

As aggregate interest increased, key money managers were breaking ground themselves. Hawk Ridge Management, managed by David Brown, established the most valuable position in Speedway Motorsports, Inc. (NYSE:TRK). Hawk Ridge Management had $1 million invested in the company at the end of the quarter. Andy Redleaf’s Whitebox Advisors also made a $0.6 million investment in the stock during the quarter. The following funds were also among the new TRK investors: Ken Gray and Steve Walsh’s Bryn Mawr Capital, Ken Griffin’s Citadel Investment Group, and Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital.

Let’s now take a look at hedge fund activity in other stocks similar to Speedway Motorsports, Inc. (NYSE:TRK). We will take a look at Bona Film Group Ltd (ADR) (NASDAQ:BONA), Hecla Mining Company (NYSE:HL), Cash America International, Inc. (NYSE:CSH), and TriMas Corp (NASDAQ:TRS). This group of stocks’ market caps are closest to TRK’s market cap.

As you can see these stocks had an average of 10 hedge funds with bullish positions and the average amount invested in these stocks was $45 million, compared to $17 million in TRK’s case. TriMas Corp (NASDAQ:TRS) is the most popular stock in this table. On the other hand, Bona Film Group Ltd (ADR) (NASDAQ:BONA) is the least popular one with only 7 bullish hedge fund positions. Compared to these stocks Speedway Motorsports, Inc. (NYSE:TRK) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.