Motorsport Games (NASDAQ:MSGM) Major Shareholder Purchases 19,709 Shares of Stock

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Red Oak Partners, Llc bought 19,709 shares of the stock in a transaction on Tuesday, August 18th. The stock was purchased at an average price of $4.00 per share, for a total transaction of $78,836.00. Following the purchase, the insider directly owned 315,461 shares of the company’s stock, valued at approximately $1,261,844. This represents a 6.66% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 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 Monday, August 17th, Red Oak Partners, Llc acquired 10,404 shares of Motorsport Games stock. The stock was purchased at an average price of $3.87 per share, with a total value of $40,263.48.
• On Thursday, July 2nd, Red Oak Partners, Llc bought 12,737 shares of Motorsport Games stock. The shares were bought at an average price of $4.14 per share, with a total value of $52,731.18.
• On Wednesday, July 1st, Red Oak Partners, Llc acquired 3,200 shares of Motorsport Games stock. The shares were purchased at an average cost of $4.07 per share, for a total transaction of $13,024.00.
• On Tuesday, June 30th, Red Oak Partners, Llc acquired 27,744 shares of Motorsport Games stock. The stock was bought at an average price of $3.95 per share, for a total transaction of $109,588.80.

Motorsport Games Stock Down 1.0%

NASDAQ:MSGM traded down $0.04 during trading hours on Wednesday, reaching $3.95. The company had a trading volume of 13,494 shares, compared to its average volume of 76,006. The firm has a market capitalization of $16.47 million, a PE ratio of 9.19, a PEG ratio of 0.77 and a beta of 1.71. The stock has a 50-day moving average of $4.28 and a two-hundred day moving average of $4.16. Motorsport Games Inc. has a one year low of $2.11 and a one year high of $5.56.

Motorsport Games (NASDAQ:MSGM) last posted its earnings results on Friday, August 14th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.17. Motorsport Games had a net margin of 16.15% and a return on equity of 37.90%. The business had revenue of $3.54 million for the quarter, compared to analyst estimates of $2.90 million. As a group, sell-side analysts expect that Motorsport Games Inc. will post 0.23 earnings per share for the current year.

Institutional Investors Weigh In On Motorsport Games

Several hedge funds and other institutional investors have recently bought and sold shares of MSGM. Renaissance Technologies LLC lifted its stake in shares of Motorsport Games by 43.8% in the first quarter. Renaissance Technologies LLC now owns 27,600 shares of the company’s stock valued at $113,000 after buying an additional 8,400 shares in the last quarter. XTX Topco Ltd bought a new position in Motorsport Games in the 4th quarter valued at $34,000. HRT Financial LP bought a new stake in Motorsport Games in the fourth quarter worth about $37,000. State Street Corp purchased a new position in Motorsport Games in the fourth quarter valued at about $39,000. Finally, Dimensional Fund Advisors LP bought a new position in shares of Motorsport Games during the 3rd quarter valued at approximately $46,000. 1.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Zacks Research upgraded shares of Motorsport Games to a “hold” rating in a research note on Wednesday, July 1st. Wall Street Zen cut Motorsport Games from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 7th. Finally, Weiss Ratings raised shares of Motorsport Games from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, July 10th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold”.

About Motorsport Games

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).