Motorsport Games (NASDAQ:MSGM) Major Shareholder Red Oak Partners, Llc Purchases 4,554 Shares of Stock

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Red Oak Partners, Llc bought 4,554 shares of Motorsport Games stock in a transaction dated Monday, August 31st. The shares were acquired at an average cost of $3.93 per share, with a total value of $17,897.22. Following the completion of the purchase, the insider owned 344,776 shares in the company, valued at approximately $1,354,969.68. This trade represents a 1.34% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 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 Friday, August 28th, Red Oak Partners, Llc purchased 4,328 shares of Motorsport Games stock. The stock was bought at an average cost of $3.91 per share, for a total transaction of $16,922.48.
• 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 acquired 5,212 shares of Motorsport Games stock. The shares were bought at an average cost 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 stock was bought at an average price of $3.86 per share, for a total transaction of $89,331.98.
• On Tuesday, August 18th, Red Oak Partners, Llc bought 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 purchased 10,404 shares of Motorsport Games stock. The shares were bought 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 purchased 12,737 shares of Motorsport Games stock. The stock was bought 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 stock was bought at an average cost of $4.07 per share, for a total transaction 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 price of $3.95 per share, for a total transaction of $109,588.80.

Motorsport Games Price Performance

NASDAQ:MSGM opened at $3.88 on Tuesday. The stock has a 50 day moving average of $4.27 and a two-hundred day moving average of $4.17. 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 $16.18 million, a P/E ratio of 9.02, a price-to-earnings-growth ratio of 0.52 and a beta of 1.71. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.23.

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

Institutional Investors Weigh In On Motorsport Games

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC increased its stake 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 during the last quarter. XTX Topco Ltd acquired a new position in shares of Motorsport Games during the 4th quarter valued at about $34,000. State Street Corp acquired a new position in shares of Motorsport Games during the 4th quarter valued at about $39,000. HRT Financial LP purchased a new stake in shares of Motorsport Games in the fourth quarter valued at about $37,000. Finally, Dimensional Fund Advisors LP acquired a new stake in Motorsport Games during the third quarter worth about $46,000. Institutional investors and hedge funds own 1.66% of the company’s stock.

Analyst Ratings Changes

MSGM has been the topic of several recent research reports. Zacks Research raised shares of Motorsport Games to a “hold” rating in a research note on Wednesday, July 1st. 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. Finally, Wall Street Zen downgraded shares of Motorsport Games from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 7th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold”.

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).