Motorsport Games (NASDAQ:MSGM) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Motorsport Games (NASDAQ:MSGM) from a buy rating to a strong-buy rating in a research note published on Saturday.

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Motorsport Games in a research note on Monday, December 29th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Motorsport Games currently has an average rating of “Hold”.

Motorsport Games Trading Up 8.5%

Shares of NASDAQ MSGM opened at $4.08 on Friday. The firm has a market capitalization of $23.58 million, a price-to-earnings ratio of 2.83 and a beta of 1.79. Motorsport Games has a one year low of $0.73 and a one year high of $5.41. The business has a fifty day simple moving average of $3.67 and a 200 day simple moving average of $3.10.

Motorsport Games (NASDAQ:MSGM) last announced its quarterly earnings results on Tuesday, March 10th. The company reported $0.15 EPS for the quarter. Motorsport Games had a net margin of 61.31% and a return on equity of 129.70%. The firm had revenue of $3.85 million during the quarter.

Insiders Place Their Bets

In other Motorsport Games news, major shareholder Mike Zoi sold 31,131 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $4.51, for a total transaction of $140,400.81. Following the sale, the insider directly owned 1,158,848 shares of the company’s stock, valued at approximately $5,226,404.48. This represents a 2.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 321,537 shares of company stock worth $1,348,505 over the last quarter. 17.34% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Heron Bay Capital Management bought a new stake in Motorsport Games during the 2nd quarter worth approximately $132,000. Dimensional Fund Advisors LP bought a new position in Motorsport Games in the 3rd quarter valued at $46,000. State Street Corp bought a new position in Motorsport Games in the 4th quarter valued at $39,000. HRT Financial LP acquired a new position in Motorsport Games in the fourth quarter worth $37,000. Finally, XTX Topco Ltd acquired a new position in Motorsport Games in the fourth quarter worth $34,000. 1.66% of the stock is 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).