Motorsport Games (NASDAQ:MSGM) Major Shareholder Purchases 3,280 Shares

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Red Oak Partners, Llc acquired 3,280 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was bought at an average price of $3.90 per share, with a total value of $12,792.00. Following the completion of the acquisition, the insider directly owned 338,966 shares of the company’s stock, valued at approximately $1,321,967.40. This represents a 0.98% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Major 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 Monday, August 31st, Red Oak Partners, Llc bought 4,554 shares of Motorsport Games stock. The stock was purchased at an average price of $3.93 per share, with a total value of $17,897.22.
• On Friday, August 28th, Red Oak Partners, Llc bought 4,328 shares of Motorsport Games stock. The stock was purchased at an average price of $3.91 per share, with a total value of $16,922.48.
• On Friday, August 21st, Red Oak Partners, Llc purchased 5,212 shares of Motorsport Games stock. The shares were purchased at an average cost of $3.67 per share, with a total value of $19,128.04.
• On Thursday, August 20th, Red Oak Partners, Llc purchased 23,143 shares of Motorsport Games stock. The shares were purchased 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 purchased 19,709 shares of Motorsport Games stock. The shares were purchased 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 acquired 10,404 shares of Motorsport Games stock. The stock was purchased at an average cost of $3.87 per share, for a total transaction of $40,263.48.
• On Thursday, July 2nd, Red Oak Partners, Llc acquired 12,737 shares of Motorsport Games stock. The stock was purchased 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 acquired 3,200 shares of Motorsport Games stock. The stock was 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 bought 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

NASDAQ:MSGM traded down $0.01 during mid-day trading on Monday, reaching $3.88. 19,548 shares of the stock were exchanged, compared to its average volume of 74,791. The business has a fifty day moving average price of $4.27 and a 200 day moving average price of $4.16. The firm has a market capitalization of $16.18 million, a PE ratio of 9.02, a PEG ratio of 0.52 and a beta of 1.71. Motorsport Games Inc. has a 1-year low of $2.11 and a 1-year high of $5.56. 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 issued its quarterly earnings results on Friday, August 14th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.17. Motorsport Games had a net margin of 16.15% and a return on equity of 41.13%. The company had revenue of $3.54 million during the quarter, compared to the consensus estimate of $2.90 million. Research analysts expect that Motorsport Games Inc. will post 0.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

MSGM has been the subject 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 cut Motorsport Games from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 7th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold”.

Hedge Funds Weigh In On Motorsport Games

A number of institutional investors have recently bought and sold shares of MSGM. Dimensional Fund Advisors LP acquired a new stake in Motorsport Games during the 3rd quarter worth about $46,000. HRT Financial LP purchased a new stake in Motorsport Games during the fourth quarter valued at about $37,000. State Street Corp acquired a new position in shares of Motorsport Games in the fourth quarter worth about $39,000. XTX Topco Ltd acquired a new position in shares of Motorsport Games in the fourth quarter worth about $34,000. Finally, Renaissance Technologies LLC increased its position in shares of 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 acquiring an additional 8,400 shares in the last quarter. 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).