Motorsport Games (NASDAQ:MSGM) Major Shareholder Acquires 3,200 Shares

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Red Oak Partners, Llc bought 3,200 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was acquired at an average price of $4.07 per share, for a total transaction of $13,024.00. Following the transaction, the insider owned 287,673 shares in the company, valued at $1,170,829.11. This trade represents a 1.12% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Thursday, July 2nd, Red Oak Partners, Llc acquired 12,737 shares of Motorsport Games stock. The shares were bought at an average cost of $4.14 per share, for a total transaction of $52,731.18.
• On Tuesday, June 30th, Red Oak Partners, Llc bought 27,744 shares of Motorsport Games stock. The stock was purchased at an average price of $3.95 per share, for a total transaction of $109,588.80.

Motorsport Games Stock Performance

Shares of NASDAQ MSGM traded up $0.48 during mid-day trading on Monday, hitting $4.79. The stock had a trading volume of 79,216 shares, compared to its average volume of 84,738. The firm has a market cap of $19.99 million, a P/E ratio of 4.09, a price-to-earnings-growth ratio of 0.75 and a beta of 1.70. Motorsport Games Inc. has a 1 year low of $2.11 and a 1 year high of $5.56. The business has a 50 day moving average price of $4.30 and a two-hundred day moving average price of $3.92.

Analyst Ratings Changes

A number of research analysts recently issued reports on MSGM shares. Zacks Research upgraded Motorsport Games to a “hold” rating in a report on Wednesday, July 1st. Wall Street Zen cut Motorsport Games from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 7th. Finally, Weiss Ratings downgraded Motorsport Games from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, June 25th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Motorsport Games has a consensus rating of “Reduce”.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC raised its position 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 worth $113,000 after acquiring an additional 8,400 shares in the last quarter. Dimensional Fund Advisors LP purchased a new stake in Motorsport Games in the third quarter worth $46,000. State Street Corp purchased a new stake in Motorsport Games in the fourth quarter worth $39,000. HRT Financial LP bought a new position in Motorsport Games in the fourth quarter worth $37,000. Finally, XTX Topco Ltd bought a new position in Motorsport Games in the fourth quarter worth $34,000. Hedge funds and other institutional investors 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).