Motorsport Games (NASDAQ:MSGM) Major Shareholder Red Oak Partners, Llc Buys 5,212 Shares

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Red Oak Partners, Llc acquired 5,212 shares of the stock in a transaction dated Friday, August 21st. The shares were bought at an average cost of $3.67 per share, with a total value of $19,128.04. Following the completion of the transaction, the insider owned 336,820 shares of the company’s stock, valued at approximately $1,236,129.40. This represents a 1.57% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major 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, August 20th, Red Oak Partners, Llc bought 23,143 shares of Motorsport Games stock. The shares were purchased at an average price of $3.86 per share, for a total transaction of $89,331.98.
• On Tuesday, August 18th, Red Oak Partners, Llc bought 19,709 shares of Motorsport Games stock. The stock was purchased at an average cost of $4.00 per share, for a total transaction of $78,836.00.
• On Monday, August 17th, Red Oak Partners, Llc purchased 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 purchased 12,737 shares of Motorsport Games stock. The shares were purchased 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 stock was 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 purchased at an average price of $3.95 per share, for a total transaction of $109,588.80.

Motorsport Games Price Performance

Shares of MSGM opened at $4.05 on Tuesday. The firm has a market capitalization of $16.89 million, a price-to-earnings ratio of 9.42, a PEG ratio of 0.53 and a beta of 1.71. The firm’s fifty day simple moving average is $4.26 and its 200-day simple moving average is $4.15. Motorsport Games Inc. has a twelve month low of $2.11 and a twelve month high of $5.56. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.23.

Motorsport Games (NASDAQ:MSGM) last issued its earnings results on Friday, August 14th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.17. The firm had revenue of $3.54 million during the quarter, compared to the consensus estimate of $2.90 million. Motorsport Games had a net margin of 16.15% and a return on equity of 41.13%. Equities analysts forecast that Motorsport Games Inc. will post 0.3 EPS for the current fiscal year.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Motorsport Games

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC boosted its stake in 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 acquiring an additional 8,400 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Motorsport Games during the fourth quarter worth about $34,000. State Street Corp acquired a new stake in shares of Motorsport Games during the fourth quarter worth about $39,000. HRT Financial LP purchased a new stake in shares of Motorsport Games in the 4th quarter valued at about $37,000. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of Motorsport Games in the 3rd quarter valued at about $46,000. 1.66% of the stock is currently owned by institutional investors and hedge funds.

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).