Motorsport Games (NASDAQ:MSGM) Major Shareholder Purchases $19,128.04 in Stock

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Red Oak Partners, Llc bought 5,212 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were bought at an average price of $3.67 per share, with a total value of $19,128.04. Following the completion of the acquisition, the insider directly owned 336,820 shares in the company, valued at $1,236,129.40. This trade represents a 1.57% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Thursday, August 20th, Red Oak Partners, Llc acquired 23,143 shares of Motorsport Games stock. The stock was bought at an average price of $3.86 per share, with a total value of $89,331.98.
• On Tuesday, August 18th, Red Oak Partners, Llc acquired 19,709 shares of Motorsport Games stock. The shares were bought at an average cost of $4.00 per share, with a total value of $78,836.00.
• On Monday, August 17th, Red Oak Partners, Llc bought 10,404 shares of Motorsport Games stock. The stock was purchased at an average price of $3.87 per share, for a total transaction 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 cost 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 purchased 27,744 shares of Motorsport Games stock. The shares were purchased at an average cost of $3.95 per share, with a total value of $109,588.80.

Motorsport Games Price Performance

Shares of Motorsport Games stock opened at $4.01 on Thursday. The company’s fifty day simple moving average is $4.27 and its two-hundred day simple moving average is $4.16. Motorsport Games Inc. has a 12-month low of $2.11 and a 12-month high of $5.56. The firm has a market cap of $16.72 million, a PE ratio of 9.33, a price-to-earnings-growth ratio of 0.53 and a beta of 1.71. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.23.

Motorsport Games (NASDAQ:MSGM) last issued its quarterly earnings data on Friday, August 14th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.02 by $0.17. The firm had revenue of $3.54 million during 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%. As a group, equities analysts expect that Motorsport Games Inc. will post 0.3 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MSGM. 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 upgraded Motorsport Games from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Hedge Funds Weigh In On Motorsport Games

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC lifted its holdings in Motorsport Games by 43.8% in the first 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 period. XTX Topco Ltd purchased a new position in shares of Motorsport Games during the 4th quarter worth approximately $34,000. State Street Corp bought a new position in shares of Motorsport Games in the 4th quarter worth approximately $39,000. HRT Financial LP bought a new position in shares of Motorsport Games in the 4th quarter worth approximately $37,000. Finally, Dimensional Fund Advisors LP bought a new position in shares of Motorsport Games in the 3rd quarter worth approximately $46,000. Hedge funds and other institutional investors 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).