Motorsport Games (NASDAQ:MSGM) Major Shareholder Red Oak Partners, Llc Buys 4,554 Shares of Stock

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Red Oak Partners, Llc acquired 4,554 shares of the stock in a transaction dated Monday, August 31st. The stock was acquired at an average price of $3.93 per share, for a total transaction of $17,897.22. Following the completion of the transaction, the insider directly owned 344,776 shares of the company’s stock, valued at approximately $1,354,969.68. This represents a 1.34% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Red Oak Partners, Llc also recently made the following trade(s):

• On Friday, August 28th, Red Oak Partners, Llc purchased 4,328 shares of Motorsport Games stock. The shares were acquired at an average cost of $3.91 per share, for a total transaction of $16,922.48.
• On Thursday, August 27th, Red Oak Partners, Llc acquired 3,280 shares of Motorsport Games stock. The shares were acquired at an average price of $3.90 per share, for a total transaction of $12,792.00.
• On Friday, August 21st, Red Oak Partners, Llc bought 5,212 shares of Motorsport Games stock. The shares were bought at an average price of $3.67 per share, with a total value of $19,128.04.
• On Thursday, August 20th, Red Oak Partners, Llc bought 23,143 shares of Motorsport Games stock. The stock was bought 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 purchased 19,709 shares of Motorsport Games stock. The shares were bought at an average price of $4.00 per share, with a total value of $78,836.00.
• On Monday, August 17th, Red Oak Partners, Llc bought 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 acquired 12,737 shares of Motorsport Games stock. The stock was 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 acquired at an average price of $4.07 per share, with a total value of $13,024.00.
• On Tuesday, June 30th, Red Oak Partners, Llc bought 27,744 shares of Motorsport Games stock. The shares were acquired at an average price of $3.95 per share, for a total transaction of $109,588.80.

Motorsport Games Price Performance

NASDAQ:MSGM traded down $0.01 during trading hours on Monday, reaching $3.88. 19,548 shares of the company were exchanged, compared to its average volume of 74,791. 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. The stock’s 50-day moving average is $4.27 and its 200-day moving average is $4.16. The firm has a market cap of $16.18 million, a PE ratio of 9.02, a price-to-earnings-growth ratio of 0.52 and a beta of 1.71.

Motorsport Games (NASDAQ:MSGM) last issued 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 net margin of 16.15% and a return on equity of 41.13%. The firm had revenue of $3.54 million for the quarter, compared to analyst estimates of $2.90 million. On average, sell-side analysts anticipate that Motorsport Games Inc. will post 0.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

Analyst Ratings Changes

MSGM has been the topic of a number of research analyst reports. Wall Street Zen lowered Motorsport Games from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 7th. Weiss Ratings upgraded Motorsport Games from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, August 24th. Finally, Zacks Research raised shares of Motorsport Games to a “hold” rating in a research note on Wednesday, July 1st. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently 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).