Motorsport Games (NASDAQ:MSGM) Major Shareholder Mike Zoi Sells 4,959 Shares

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Mike Zoi sold 4,959 shares of the business’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $3.29, for a total transaction of $16,315.11. Following the completion of the sale, the insider directly owned 1,475,426 shares in the company, valued at $4,854,151.54. This represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 10% 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 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 Stock Up 4.7%

MSGM stock opened at $3.68 on Wednesday. The company’s fifty day simple moving average is $3.43 and its 200 day simple moving average is $3.01. Motorsport Games Inc. has a 12-month low of $0.73 and a 12-month high of $5.41. The firm has a market cap of $21.24 million, a price-to-earnings ratio of 9.19 and a beta of 1.76.

Analysts Set New Price Targets

Several research firms recently weighed in on MSGM. Wall Street Zen upgraded shares of Motorsport Games to a “buy” rating in a research report on Saturday, January 31st. Weiss Ratings reissued a “hold (c-)” rating on shares of Motorsport Games in a research note on Monday, December 29th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold”.

Institutional Trading of Motorsport Games

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Heron Bay Capital Management purchased a new position in shares of Motorsport Games in the 2nd quarter valued at $132,000. Dimensional Fund Advisors LP purchased a new stake in shares of Motorsport Games in the third quarter valued at approximately $46,000. State Street Corp acquired a new position in shares of Motorsport Games during the 4th quarter worth $39,000. HRT Financial LP purchased a new position in Motorsport Games in the fourth quarter valued at about $37,000. Finally, XTX Topco Ltd purchased a new stake in Motorsport Games during the fourth quarter worth $34,000. 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).