Motorsport Games (NASDAQ:MSGM) Major Shareholder Buys 3,200 Shares

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Red Oak Partners, Llc acquired 3,200 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was acquired at an average price of $4.07 per share, for a total transaction of $13,024.00. Following the acquisition, the insider owned 287,673 shares of the company’s stock, valued at approximately $1,170,829.11. This trade represents a 1.12% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more 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 Thursday, July 2nd, Red Oak Partners, Llc bought 12,737 shares of Motorsport Games stock. The shares were acquired at an average price of $4.14 per share, with a total value of $52,731.18.
• On Tuesday, June 30th, Red Oak Partners, Llc purchased 27,744 shares of Motorsport Games stock. The stock was bought at an average cost of $3.95 per share, for a total transaction of $109,588.80.

Motorsport Games Stock Performance

Shares of Motorsport Games stock traded up $0.48 during midday trading on Monday, hitting $4.79. The company had a trading volume of 79,216 shares, compared to its average volume of 84,738. Motorsport Games Inc. has a 52-week low of $2.11 and a 52-week high of $5.56. The stock has a market capitalization of $19.99 million, a P/E ratio of 4.09, a P/E/G ratio of 0.75 and a beta of 1.70. The company has a 50 day moving average of $4.30 and a 200 day moving average of $3.92.

Institutional Investors Weigh In On Motorsport Games

Institutional investors have recently modified their holdings of the business. XTX Topco Ltd bought a new stake in Motorsport Games in the 4th quarter worth about $34,000. HRT Financial LP bought a new position in Motorsport Games during the 4th quarter valued at about $37,000. State Street Corp purchased a new stake in shares of Motorsport Games during the 4th quarter valued at about $39,000. Dimensional Fund Advisors LP bought a new stake in shares of Motorsport Games in the third quarter worth approximately $46,000. Finally, Renaissance Technologies LLC grew 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 worth $113,000 after acquiring an additional 8,400 shares during the period. 1.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MSGM has been the subject of several recent analyst reports. Wall Street Zen lowered Motorsport Games from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 7th. Weiss Ratings downgraded shares of Motorsport Games from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, June 25th. Finally, Zacks Research raised shares of Motorsport Games to a “hold” rating in a report on Wednesday, July 1st. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

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).