State of New Jersey Common Pension Fund D reduced its holdings in shares of Dover Motorsports, Inc. (NYSE:DVD) by 67.9% in the third quarter, Holdings Channel.com reports. The fund owned 70,926 shares of the company’s stock after selling 150,074 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Dover Motorsports were worth $140,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of DVD. Gabelli Funds LLC raised its position in Dover Motorsports by 8.5% during the 2nd quarter. Gabelli Funds LLC now owns 251,751 shares of the company’s stock valued at $524,000 after purchasing an additional 19,751 shares in the last quarter. BlackRock Inc. raised its position in Dover Motorsports by 2.9% during the 2nd quarter. BlackRock Inc. now owns 340,779 shares of the company’s stock valued at $709,000 after purchasing an additional 9,537 shares in the last quarter. Paloma Partners Management Co bought a new stake in Dover Motorsports during the 2nd quarter valued at $30,000. Renaissance Technologies LLC raised its position in Dover Motorsports by 3.4% during the 2nd quarter. Renaissance Technologies LLC now owns 381,700 shares of the company’s stock valued at $794,000 after purchasing an additional 12,500 shares in the last quarter. Finally, Morgan Stanley raised its position in Dover Motorsports by 857.6% during the 2nd quarter. Morgan Stanley now owns 14,555 shares of the company’s stock valued at $31,000 after purchasing an additional 13,035 shares in the last quarter. 23.14% of the stock is owned by hedge funds and other institutional investors.
Separately, ValuEngine raised Dover Motorsports from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd.
The business also recently declared an annual dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 11th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This is an increase from Dover Motorsports’s previous annual dividend of $0.08. This represents a dividend yield of 5.1%.
About Dover Motorsports
Dover Motorsports, Inc markets and promotes motorsports entertainment in the United States. It owns and operates Dover International Speedway in Dover, Delaware; and Nashville Superspeedway near Nashville, Tennessee. The company was formerly known as Dover Downs Entertainment, Inc Dover Motorsports, Inc was founded in 1969 and is based in Dover, Delaware.
Further Reading: Insider Trading – What You Need to Know
Want to see what other hedge funds are holding DVD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dover Motorsports, Inc. (NYSE:DVD).
Receive News & Ratings for Dover Motorsports Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dover Motorsports and related companies with MarketBeat.com's FREE daily email newsletter.