State of New Jersey Common Pension Fund D Sells 150,074 Shares of Dover Motorsports, Inc. (NYSE:DVD)

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.

Shares of NYSE:DVD traded down $0.01 on Tuesday, reaching $1.88. The company had a trading volume of 5,318 shares, compared to its average volume of 22,696. Dover Motorsports, Inc. has a 52-week low of $1.79 and a 52-week high of $2.20. The firm’s 50 day simple moving average is $1.93 and its 200-day simple moving average is $2.01. The firm has a market capitalization of $68.14 million, a PE ratio of 18.70 and a beta of 0.11.

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.

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Institutional Ownership by Quarter for Dover Motorsports (NYSE:DVD)

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