Insider Selling: Motorsport Games (NASDAQ:MSGM) Major Shareholder Sells $17,807.68 in Stock

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Mike Zoi sold 5,059 shares of Motorsport Games stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $3.52, for a total value of $17,807.68. Following the completion of the transaction, the insider directly owned 1,403,136 shares in the company, valued at $4,939,038.72. This trade represents a 0.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Mike Zoi also recently made the following trade(s):

• On Friday, February 27th, Mike Zoi sold 9,603 shares of Motorsport Games stock. The stock was sold at an average price of $3.71, for a total transaction of $35,627.13.
• On Wednesday, February 25th, Mike Zoi sold 9,362 shares of Motorsport Games stock. The stock was sold at an average price of $3.58, for a total value of $33,515.96.
• On Tuesday, February 24th, Mike Zoi sold 8,960 shares of Motorsport Games stock. The shares were sold at an average price of $3.62, for a total transaction of $32,435.20.
• On Monday, February 23rd, Mike Zoi sold 48,909 shares of Motorsport Games stock. The shares were sold at an average price of $3.59, for a total transaction of $175,583.31.
• On Friday, February 20th, Mike Zoi sold 4,959 shares of Motorsport Games stock. The stock was sold at an average price of $3.29, for a total value of $16,315.11.

Motorsport Games Trading Up 5.4%

MSGM opened at $3.90 on Monday. The company has a market cap of $22.54 million, a price-to-earnings ratio of 9.75 and a beta of 1.79. The stock has a fifty day simple moving average of $3.47 and a two-hundred day simple moving average of $3.01. Motorsport Games Inc. has a 12-month low of $0.73 and a 12-month high of $5.41.

Hedge Funds Weigh In On Motorsport Games

A number of institutional investors and hedge funds have recently made changes to their positions in MSGM. XTX Topco Ltd bought a new stake in Motorsport Games during the fourth quarter valued at approximately $34,000. State Street Corp purchased a new position in shares of Motorsport Games during the 4th quarter worth $39,000. HRT Financial LP bought a new stake in shares of Motorsport Games during the 4th quarter valued at $37,000. Dimensional Fund Advisors LP purchased a new stake in shares of Motorsport Games in the 3rd quarter worth $46,000. Finally, Heron Bay Capital Management bought a new position in Motorsport Games in the 2nd quarter worth $132,000. Hedge funds and other institutional investors own 1.66% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the company. Wall Street Zen upgraded Motorsport Games to a “buy” rating in a research note on Saturday, January 31st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Motorsport Games in a report on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Motorsport Games presently has a consensus rating of “Hold”.

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).