Motorsport Games (NASDAQ:MSGM) Stock Rating Raised to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Motorsport Games (NASDAQ:MSGM) to a buy rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

A number of other equities analysts have also commented on the stock. Zacks Research raised shares of Motorsport Games from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 31st. Weiss Ratings upgraded Motorsport Games from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Motorsport Games currently has an average rating of “Buy”.

Motorsport Games Trading Up 2.1%

NASDAQ MSGM opened at $4.28 on Friday. The stock has a market cap of $17.85 million, a PE ratio of 9.95, a PEG ratio of 0.57 and a beta of 1.71. Motorsport Games has a 12 month low of $2.11 and a 12 month high of $5.56. The company’s 50-day moving average price is $4.30 and its 200-day moving average price is $4.27. 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 announced its quarterly earnings data 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. The company had revenue of $3.54 million during the quarter, compared to analyst estimates of $2.90 million. Motorsport Games had a net margin of 16.15% and a return on equity of 41.13%. Equities research analysts forecast that Motorsport Games will post 0.3 earnings per share for the current year.

Insider Buying and Selling at Motorsport Games

In other Motorsport Games news, major shareholder Red Oak Partners, Llc bought 23,143 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The shares were purchased at an average cost of $3.86 per share, for a total transaction of $89,331.98. Following the purchase, the insider directly owned 333,410 shares in the company, valued at $1,286,962.60. This represents a 7.46% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders acquired 116,460 shares of company stock valued at $459,004. 4.59% of the stock is owned by company insiders.

Institutional Investors Weigh In On Motorsport Games

An institutional investor recently raised its stake in Motorsport Games stock. Renaissance Technologies LLC lifted its holdings in shares of Motorsport Games Inc. (NASDAQ:MSGM) by 43.8% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 27,600 shares of the company’s stock after acquiring an additional 8,400 shares during the period. Renaissance Technologies LLC owned approximately 0.48% of Motorsport Games worth $113,000 at the end of the most recent quarter. Institutional investors and hedge funds own 1.66% of the company’s stock.

Motorsport Games Company Profile

Motorsport Games Inc is a video game developer and publisher focused on racing and motorsport entertainment. The company creates and distributes interactive experiences based on licensed racing series, teams and events, with products designed for console and personal computer platforms.

Its portfolio has included the NASCAR Heat franchise, NASCAR 21: Ignition and titles associated with the 24 Hours of Le Mans and other major racing championships. Motorsport Games also owns Studio 397, the developer of the rFactor 2 racing simulation platform, and has published Le Mans Ultimate, an officially licensed endurance-racing game.

The company distributes its games internationally through digital storefronts and other retail channels, serving players across North America, Europe and additional global markets.