Insider Buying: Motorsport Games (NASDAQ:MSGM) Major Shareholder Acquires $16,922.48 in Stock

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Red Oak Partners, Llc bought 4,328 shares of the firm’s stock in a transaction dated Friday, August 28th. The shares were acquired at an average price of $3.91 per share, for a total transaction of $16,922.48. Following the transaction, the insider directly owned 341,797 shares in the company, valued at approximately $1,336,426.27. This represents a 1.28% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Monday, August 31st, Red Oak Partners, Llc purchased 4,554 shares of Motorsport Games stock. The stock was bought at an average cost of $3.93 per share, with a total value of $17,897.22.
• On Thursday, August 27th, Red Oak Partners, Llc acquired 3,280 shares of Motorsport Games stock. The shares were bought at an average price of $3.90 per share, with a total value of $12,792.00.
• On Friday, August 21st, Red Oak Partners, Llc bought 5,212 shares of Motorsport Games stock. The stock was bought at an average price of $3.67 per share, for a total transaction of $19,128.04.
• On Thursday, August 20th, Red Oak Partners, Llc bought 23,143 shares of Motorsport Games stock. The shares were bought at an average cost of $3.86 per share, with a total value of $89,331.98.
• On Tuesday, August 18th, Red Oak Partners, Llc purchased 19,709 shares of Motorsport Games stock. The stock was bought 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 acquired 10,404 shares of Motorsport Games stock. The shares were 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 bought 12,737 shares of Motorsport Games stock. The stock was purchased at an average price of $4.14 per share, for a total transaction of $52,731.18.
• On Wednesday, July 1st, Red Oak Partners, Llc purchased 3,200 shares of Motorsport Games stock. The shares were purchased 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 acquired 27,744 shares of Motorsport Games stock. The stock was purchased at an average cost of $3.95 per share, with a total value of $109,588.80.

Motorsport Games Trading Up 4.3%

Shares of MSGM stock opened at $4.08 on Thursday. The stock’s fifty day moving average is $4.27 and its two-hundred day moving average is $4.18. 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 $17.01 million, a P/E ratio of 9.49, a PEG ratio of 0.52 and a beta of 1.71. Motorsport Games Inc. has a fifty-two week low of $2.11 and a fifty-two week high of $5.56.

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on MSGM shares. Weiss Ratings upgraded shares of Motorsport Games from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 24th. Zacks Research raised shares of Motorsport Games from a “hold” rating to a “strong-buy” rating in a research note on Monday. Finally, Wall Street Zen cut Motorsport Games from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 7th. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy”.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. XTX Topco Ltd purchased a new stake in shares of Motorsport Games in the fourth quarter valued at about $34,000. HRT Financial LP purchased a new position in Motorsport Games during the fourth quarter worth about $37,000. State Street Corp acquired a new position in Motorsport Games in the 4th quarter valued at about $39,000. Dimensional Fund Advisors LP acquired a new position in Motorsport Games in the 3rd quarter valued at about $46,000. Finally, Renaissance Technologies LLC increased its holdings in shares of Motorsport Games by 43.8% during the 1st quarter. Renaissance Technologies LLC now owns 27,600 shares of the company’s stock worth $113,000 after buying an additional 8,400 shares during the last quarter. Institutional investors and hedge funds own 1.66% of the company’s stock.

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).