Motorsport Games (NASDAQ:MSGM) Upgraded to Strong-Buy at Zacks Research

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

MSGM has been the topic of several other reports. Weiss Ratings raised shares of Motorsport Games from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 24th. Wall Street Zen cut Motorsport Games from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 7th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy”.

Motorsport Games Price Performance

Shares of MSGM opened at $3.91 on Monday. The stock has a 50 day simple moving average of $4.26 and a 200 day simple moving average of $4.17. Motorsport Games has a 52-week low of $2.11 and a 52-week high of $5.56. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.85 and a current ratio of 1.85. The firm has a market capitalization of $16.30 million, a PE ratio of 9.09, a P/E/G ratio of 0.52 and a beta of 1.71.

Motorsport Games (NASDAQ:MSGM) last announced its earnings results on Friday, August 14th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.02 by $0.17. The firm had revenue of $3.54 million for 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%. Sell-side analysts predict that Motorsport Games will post 0.3 EPS for the current fiscal year.

Insider Transactions at Motorsport Games

In related news, major shareholder Red Oak Partners, Llc bought 23,143 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The shares were acquired at an average price of $3.86 per share, for a total transaction of $89,331.98. Following the completion of the acquisition, the insider owned 333,410 shares of the company’s stock, valued at approximately $1,286,962.60. The trade was a 7.46% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders bought a total of 114,311 shares of company stock worth $450,515 in the last 90 days. Corporate insiders own 4.59% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MSGM. Renaissance Technologies LLC boosted its holdings in shares of Motorsport Games by 43.8% in the 1st quarter. Renaissance Technologies LLC now owns 27,600 shares of the company’s stock valued at $113,000 after buying an additional 8,400 shares during the last quarter. XTX Topco Ltd acquired a new position in Motorsport Games during the fourth quarter worth $34,000. HRT Financial LP bought a new stake in Motorsport Games during the fourth quarter worth $37,000. State Street Corp acquired a new stake in Motorsport Games in the fourth quarter valued at $39,000. Finally, Dimensional Fund Advisors LP acquired a new stake in Motorsport Games in the third quarter valued at $46,000. Institutional investors and hedge funds own 1.66% of the company’s stock.

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).