Insider Buying: Motorsport Games (NASDAQ:MSGM) Major Shareholder Acquires $52,731.18 in Stock

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Red Oak Partners, Llc purchased 12,737 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The stock was bought at an average cost of $4.14 per share, with a total value of $52,731.18. Following the acquisition, the insider owned 295,881 shares in the company, valued at $1,224,947.34. This represents a 4.50% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% 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 Wednesday, July 1st, Red Oak Partners, Llc acquired 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 price of $3.95 per share, with a total value of $109,588.80.

Motorsport Games Stock Performance

NASDAQ MSGM opened at $4.32 on Thursday. The business has a fifty day moving average price of $4.34 and a 200 day moving average price of $3.95. The company has a market cap of $18.01 million, a P/E ratio of 3.69, a P/E/G ratio of 0.82 and a beta of 1.70. Motorsport Games Inc. has a one year low of $2.11 and a one year high of $5.56.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Motorsport Games

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC raised its position in Motorsport Games by 43.8% in the first quarter. Renaissance Technologies LLC now owns 27,600 shares of the company’s stock valued at $113,000 after purchasing an additional 8,400 shares during the period. Dimensional Fund Advisors LP purchased a new position in shares of Motorsport Games during the 3rd quarter worth $46,000. State Street Corp purchased a new position in shares of Motorsport Games during the 4th quarter worth $39,000. HRT Financial LP acquired a new stake in shares of Motorsport Games during the 4th quarter worth about $37,000. Finally, XTX Topco Ltd acquired a new stake in shares of Motorsport Games during the 4th quarter worth about $34,000. Institutional investors and hedge funds 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).