International Speedway Corp (ISCA)’s Q2 Profit Shrinks, Stock Dips: Good Time To Buy?

Hedge fund activity in International Speedway Corporation (NASDAQ:ISCA)

When looking at the hedgies followed by Insider Monkey, Covalent Capital Partners, managed by Robert Hockett, holds the number one position in the company. Covalent Capital Partners has a $16.6 million position in the stock comprised of 507,780 shares, which makes up 3.4% of its 13F portfolio. The second-largest stake is held by Zeke Ashton of Centaur Capital Partners, consisting of 180,000 shares worth $5.9 million. The fund has 8.2% of its 13F portfolio invested in the stock. Other members of the smart money that are bullish include Steve Pei’s Gratia Capital, David E. Shaw’s D.E. Shaw & Co., L.P., and Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital.

As aggregate interest increased, some big names were leading the bulls’ herd. Gratia Capital, managed by Steve Pei, assembled the most outsized position in International Speedway Corporation (NASDAQ:ISCA). Gratia Capital had $5.4 million invested through opening a position of 167,058 shares of the company by the end of the first quarter. Geoffrey Raynor’s Q Investments (Specter Holdings) also initiated a $3.4 million position of 103,572 shares during the quarter. The other funds with new positions in the stock are Brian Taylor’s Pine River Capital Management, Jim Simons’ Renaissance Technologies, and Matthew Tewksbury’s Stevens Capital Management.

International Speedway Corporation (NASDAQ:ISCA) appears to be a solid stock to buy on the dip at the moment, based on the interest smart money has shown in the stock, with the caveat being that the latest earnings report may not have been what they were expecting of the company.

Disclosure: None