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

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

Several other brokerages have also recently commented on MSGM. Weiss Ratings raised Motorsport Games from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, September 11th. Wall Street Zen raised shares of Motorsport Games to a “buy” rating in a research report on Saturday, September 26th. Two research analysts have rated the stock with a Hold rating. According to MarketBeat, the company has a consensus rating of “Hold”.

Motorsport Games Stock Performance

Shares of MSGM stock opened at $5.15 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.85 and a quick ratio of 1.85. Motorsport Games has a fifty-two week low of $2.11 and a fifty-two week high of $5.65. The stock’s 50-day moving average is $4.55 and its two-hundred day moving average is $4.38. The firm has a market cap of $21.48 million, a P/E ratio of 11.98, a PEG ratio of 0.71 and a beta of 1.87.

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, topping analysts’ consensus estimates of $0.02 by $0.17. The company had revenue of $3.54 million during the quarter, compared to the consensus estimate of $2.90 million. Motorsport Games had a return on equity of 41.13% and a net margin of 16.15%. Analysts predict that Motorsport Games will post 0.30 earnings per share for the current fiscal year.

Insider Activity

In other Motorsport Games news, major shareholder Red Oak Partners, Llc acquired 23,143 shares of Motorsport Games stock in a transaction that occurred on Thursday, August 20th. The stock was acquired at an average price of $3.86 per share, with a total value of $89,331.98. Following the purchase, the insider owned 333,410 shares in the company, valued at approximately $1,286,962.60. This trade represents a 7.46% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have acquired 72,779 shares of company stock valued at $283,660. 4.59% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Motorsport Games

A hedge fund recently raised its position in Motorsport Games stock. Renaissance Technologies LLC boosted its holdings in shares of Motorsport Games Inc. (NASDAQ:MSGM) by 43.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,600 shares of the company’s stock after buying an additional 8,400 shares during the quarter. Renaissance Technologies LLC owned about 0.48% of Motorsport Games worth $113,000 at the end of the most recent quarter. 1.66% of the stock is owned by institutional investors and hedge funds.

Motorsport Games Company Profile

Motorsport Games Inc is a video game developer and publisher focused on motorsports and racing entertainment. The company creates and distributes racing games for console and PC platforms, while also developing related online services and esports programs.

Its portfolio has included licensed titles based on major racing properties, including the NASCAR Heat series, NASCAR 21: Ignition and Le Mans Ultimate. Motorsport Games also operates Studio 397, the developer behind the rFactor 2 racing simulation platform.