Red Oak Partners, Llc Purchases 12,737 Shares of Motorsport Games (NASDAQ:MSGM) Stock

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Red Oak Partners, Llc bought 12,737 shares of Motorsport Games stock in a transaction on Thursday, July 2nd. The shares were acquired at an average price of $4.14 per share, for a total transaction of $52,731.18. Following the completion of the acquisition, the insider owned 295,881 shares in the company, valued at $1,224,947.34. This represents a 4.50% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Red Oak Partners, Llc also recently made the following trade(s):

• On Wednesday, July 1st, Red Oak Partners, Llc purchased 3,200 shares of Motorsport Games stock. The stock was acquired at an average cost of $4.07 per share, with a total value of $13,024.00.
• On Tuesday, June 30th, Red Oak Partners, Llc purchased 27,744 shares of Motorsport Games stock. The stock was acquired at an average price of $3.95 per share, with a total value of $109,588.80.

Motorsport Games Trading Down 2.1%

Shares of NASDAQ MSGM opened at $4.69 on Wednesday. The stock has a market cap of $19.56 million, a P/E ratio of 4.01, a PEG ratio of 0.83 and a beta of 1.70. The business’s fifty day simple moving average is $4.33 and its 200-day simple moving average is $3.94. Motorsport Games Inc. has a 12-month low of $2.11 and a 12-month high of $5.56.

Institutional Trading of Motorsport Games

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MSGM. Renaissance Technologies LLC lifted its position in shares of Motorsport Games by 43.8% during the 1st quarter. Renaissance Technologies LLC now owns 27,600 shares of the company’s stock worth $113,000 after buying an additional 8,400 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Motorsport Games in the 4th quarter valued at $34,000. State Street Corp acquired a new stake in Motorsport Games during the 4th quarter worth $39,000. HRT Financial LP acquired a new stake in Motorsport Games during the 4th quarter worth $37,000. Finally, Dimensional Fund Advisors LP purchased a new stake in Motorsport Games in the third quarter valued at $46,000. Institutional investors and hedge funds own 1.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MSGM shares. Weiss Ratings downgraded Motorsport Games from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, June 25th. Zacks Research upgraded shares of Motorsport Games to a “hold” rating in a research note on Wednesday, July 1st. Finally, Wall Street Zen cut shares of Motorsport Games from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 7th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce”.

Motorsport Games Company Profile

Motorsport Games, Inc is a publicly traded developer and publisher of interactive motorsport entertainment, headquartered in Miami, Florida. The company specializes in creating officially licensed racing simulation titles and managing associated esports competitions. By focusing exclusively on the motorsport genre, Motorsport Games aims to deliver authentic digital experiences that mirror the rules, tracks and vehicles of real-world racing series.

The company’s core activities include the development of video games under licenses from major sanctioning bodies such as NASCAR, the Fédération Internationale de l’Automobile (FIA) and International Motor Sports Association (IMSA).