Motorsport Games (NASDAQ:MSGM) Stock Rating Upgraded by Zacks Research

Motorsport Games (NASDAQ:MSGM) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday, Zacks reports.

Several other equities analysts also recently commented on the stock. Wall Street Zen downgraded shares of Motorsport Games from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 7th. Weiss Ratings raised shares of Motorsport Games from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Motorsport Games Stock Performance

Shares of NASDAQ MSGM opened at $3.91 on Monday. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $16.30 million, a P/E ratio of 9.09, a P/E/G ratio of 0.52 and a beta of 1.71. Motorsport Games has a 12 month low of $2.11 and a 12 month high of $5.56. The stock has a 50 day moving average of $4.26 and a 200-day moving average of $4.17.

Motorsport Games (NASDAQ:MSGM) last posted its quarterly earnings results on Friday, August 14th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.17. Motorsport Games had a return on equity of 41.13% and a net margin of 16.15%.The business had revenue of $3.54 million for the quarter, compared to analysts’ expectations of $2.90 million. As a group, equities research analysts predict that Motorsport Games will post 0.3 EPS for the current year.

Insiders Place Their Bets

In other Motorsport Games news, major shareholder Red Oak Partners, Llc acquired 27,744 shares of the business’s stock in a transaction on Tuesday, June 30th. The stock was purchased at an average price of $3.95 per share, with a total value of $109,588.80. Following the acquisition, the insider directly owned 285,611 shares of the company’s stock, valued at approximately $1,128,163.45. This trade represents a 10.76% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders acquired 114,311 shares of company stock worth $450,515. 4.59% of the stock is owned by company insiders.

Institutional Investors Weigh In On Motorsport Games

A number of hedge funds and other institutional investors have recently made changes to their positions in MSGM. Renaissance Technologies LLC raised its position 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. Dimensional Fund Advisors LP acquired a new stake in Motorsport Games during the third quarter worth approximately $46,000. State Street Corp acquired a new stake in Motorsport Games during the fourth quarter worth approximately $39,000. HRT Financial LP bought a new position in Motorsport Games during the 4th quarter worth $37,000. Finally, XTX Topco Ltd bought a new position in Motorsport Games during the 4th quarter worth $34,000. 1.66% of the stock is currently owned by institutional investors and hedge funds.

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).