Motorsport Games (NASDAQ:MSGM) Cut to Hold at Zacks Research

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

A number of other research firms have also recently commented on MSGM. Weiss Ratings upgraded shares of Motorsport Games from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, September 11th. Wall Street Zen raised shares of Motorsport Games to a “buy” rating in a research report on Saturday, September 26th. Two analysts have rated the stock with a Hold rating. According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Motorsport Games Stock Down 2.8%

Shares of NASDAQ:MSGM opened at $5.15 on Monday. The company has a 50 day moving average of $4.55 and a 200-day moving average of $4.38. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.85 and a quick ratio of 1.85. Motorsport Games has a one year low of $2.11 and a one year high of $5.65. The stock has a market cap of $21.48 million, a price-to-earnings ratio of 11.98, a P/E/G ratio of 0.71 and a beta of 1.87.

Motorsport Games (NASDAQ:MSGM) last issued its earnings results on Friday, August 14th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.02 by $0.17. The company had revenue of $3.54 million during the quarter, compared to analysts’ expectations of $2.90 million. Motorsport Games had a net margin of 16.15% and a return on equity of 41.13%. On average, sell-side analysts forecast that Motorsport Games will post 0.30 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Red Oak Partners, Llc acquired 23,143 shares of the firm’s stock in a transaction on Thursday, August 20th. The shares were purchased at an average cost of $3.86 per share, for a total transaction of $89,331.98. Following the completion of the acquisition, the insider directly owned 333,410 shares in the company, valued at approximately $1,286,962.60. This trade represents a 7.46% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have acquired 72,779 shares of company stock worth $283,660 over the last three months. Insiders own 4.59% of the company’s stock.

Hedge Funds Weigh In On Motorsport Games

An institutional investor recently raised its position in Motorsport Games stock. Renaissance Technologies LLC raised its position in Motorsport Games Inc. (NASDAQ:MSGM) by 43.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,600 shares of the company’s stock after buying an additional 8,400 shares during the quarter. Renaissance Technologies LLC owned 0.48% of Motorsport Games worth $113,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 1.66% of the company’s stock.

Motorsport Games Company Profile

Motorsport Games Inc is a video game developer and publisher focused on motorsports and racing entertainment. The company creates and distributes racing games for console and PC platforms, while also developing related online services and esports programs.

Its portfolio has included licensed titles based on major racing properties, including the NASCAR Heat series, NASCAR 21: Ignition and Le Mans Ultimate. Motorsport Games also operates Studio 397, the developer behind the rFactor 2 racing simulation platform.