Motorsport Games (NASDAQ:MSGM) Major Shareholder Red Oak Partners, Llc Acquires 23,143 Shares of Stock

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Red Oak Partners, Llc purchased 23,143 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The shares were acquired at an average cost of $3.86 per share, with a total value of $89,331.98. Following the completion of the purchase, the insider directly owned 333,410 shares in the company, valued at $1,286,962.60. The trade was a 7.46% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more 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 21st, Red Oak Partners, Llc acquired 5,212 shares of Motorsport Games stock. The stock was acquired at an average cost of $3.67 per share, for a total transaction of $19,128.04.
• On Tuesday, August 18th, Red Oak Partners, Llc bought 19,709 shares of Motorsport Games stock. The stock was acquired at an average price of $4.00 per share, for a total transaction of $78,836.00.
• On Monday, August 17th, Red Oak Partners, Llc bought 10,404 shares of Motorsport Games stock. The shares were acquired 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 bought 12,737 shares of Motorsport Games stock. The shares were acquired at an average price of $4.14 per share, with a total value of $52,731.18.
• On Wednesday, July 1st, Red Oak Partners, Llc bought 3,200 shares of Motorsport Games stock. The shares were bought at an average cost 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 stock was bought at an average price of $3.95 per share, for a total transaction of $109,588.80.

Motorsport Games Trading Up 2.5%

MSGM stock opened at $4.05 on Tuesday. Motorsport Games Inc. has a 12 month low of $2.11 and a 12 month high of $5.56. The firm’s 50-day moving average is $4.26 and its 200 day moving average is $4.15. The company has a market capitalization of $16.89 million, a PE ratio of 9.42, a P/E/G ratio of 0.53 and a beta of 1.71. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.85 and a quick ratio of 1.85.

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MSGM shares. Zacks Research raised Motorsport Games to a “hold” rating in a research note on Wednesday, July 1st. Wall Street Zen cut Motorsport Games from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 7th. Finally, Weiss Ratings raised Motorsport Games from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, July 10th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold”.

Institutional Investors Weigh In On Motorsport Games

Several hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC increased its holdings in Motorsport Games by 43.8% during the first quarter. Renaissance Technologies LLC now owns 27,600 shares of the company’s stock valued at $113,000 after buying an additional 8,400 shares during the period. XTX Topco Ltd bought a new stake in Motorsport Games during the 4th quarter valued at $34,000. HRT Financial LP bought a new stake in Motorsport Games during the 4th quarter valued at $37,000. State Street Corp purchased a new position in shares of Motorsport Games in the 4th quarter valued at $39,000. Finally, Dimensional Fund Advisors LP purchased a new position in shares of Motorsport Games in the 3rd quarter valued at $46,000. 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).