Insider Selling: Motorsport Games (NASDAQ:MSGM) Major Shareholder Sells $137,352.80 in Stock

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Mike Zoi sold 29,224 shares of Motorsport Games stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $4.70, for a total value of $137,352.80. Following the completion of the transaction, the insider owned 1,216,140 shares of the company’s stock, valued at $5,715,858. This trade represents a 2.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Monday, March 9th, Mike Zoi sold 24,720 shares of Motorsport Games stock. The shares were sold at an average price of $4.84, for a total value of $119,644.80.
• On Thursday, March 5th, Mike Zoi sold 90,900 shares of Motorsport Games stock. The shares were sold at an average price of $4.49, for a total value of $408,141.00.
• On Wednesday, March 4th, Mike Zoi sold 40,535 shares of Motorsport Games stock. The stock was sold at an average price of $4.03, for a total value of $163,356.05.
• On Tuesday, March 3rd, Mike Zoi sold 11,675 shares of Motorsport Games stock. The stock was sold at an average price of $3.77, for a total value of $44,014.75.
• On Monday, March 2nd, Mike Zoi sold 6,500 shares of Motorsport Games stock. The stock was sold at an average price of $3.74, for a total value of $24,310.00.
• On Friday, February 27th, Mike Zoi sold 9,603 shares of Motorsport Games stock. The shares were sold at an average price of $3.71, for a total value of $35,627.13.
• On Thursday, February 26th, Mike Zoi sold 5,059 shares of Motorsport Games stock. The shares were sold at an average price of $3.52, for a total value of $17,807.68.
• 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 stock was sold at an average price of $3.62, for a total value of $32,435.20.
• On Monday, February 23rd, Mike Zoi sold 48,909 shares of Motorsport Games stock. The stock was sold at an average price of $3.59, for a total transaction of $175,583.31.

Motorsport Games Price Performance

MSGM stock opened at $3.91 on Thursday. Motorsport Games Inc. has a 1-year low of $0.73 and a 1-year high of $5.41. The firm has a fifty day moving average price of $3.64 and a two-hundred day moving average price of $3.08. The firm has a market cap of $22.60 million, a price-to-earnings ratio of 2.72 and a beta of 1.79.

Motorsport Games (NASDAQ:MSGM) last issued its earnings results on Tuesday, March 10th. The company reported $0.15 earnings per share for the quarter. Motorsport Games had a net margin of 61.31% and a return on equity of 150.78%. The company had revenue of $3.85 million for the quarter.

Hedge Funds Weigh In On Motorsport Games

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

Analyst Ratings Changes

A number of equities analysts have issued reports on MSGM shares. Wall Street Zen raised shares of Motorsport Games to a “buy” rating in a report 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, the stock presently has a consensus 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).