Insider Selling: Motorsport Games (NASDAQ:MSGM) Major Shareholder Sells $175,583.31 in Stock

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Mike Zoi sold 48,909 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $3.59, for a total value of $175,583.31. Following the transaction, the insider directly owned 1,426,517 shares in the company, valued at $5,121,196.03. This trade represents a 3.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own more than 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 Friday, February 27th, Mike Zoi sold 9,603 shares of Motorsport Games stock. The stock was sold at an average price of $3.71, for a total value of $35,627.13.
• On Thursday, February 26th, Mike Zoi sold 5,059 shares of Motorsport Games stock. The shares were sold at an average price of $3.52, for a total value of $17,807.68.
• On Wednesday, February 25th, Mike Zoi sold 9,362 shares of Motorsport Games stock. The shares were sold at an average price of $3.58, for a total transaction of $33,515.96.
• On Tuesday, February 24th, Mike Zoi sold 8,960 shares of Motorsport Games stock. The shares were sold at an average price of $3.62, for a total value of $32,435.20.
• On Friday, February 20th, Mike Zoi sold 4,959 shares of Motorsport Games stock. The shares were sold at an average price of $3.29, for a total transaction of $16,315.11.

Motorsport Games Trading Up 5.4%

Shares of NASDAQ MSGM opened at $3.90 on Friday. Motorsport Games Inc. has a 12-month low of $0.73 and a 12-month high of $5.41. The company has a market cap of $22.54 million, a price-to-earnings ratio of 9.75 and a beta of 1.76. The stock’s 50 day simple moving average is $3.47 and its 200 day simple moving average is $3.02.

Analyst Upgrades and Downgrades

MSGM has been the topic of several analyst reports. Wall Street Zen raised shares of Motorsport Games to a “buy” rating in a research report on Saturday, January 31st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Motorsport Games in a research note on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Motorsport Games has a consensus rating of “Hold”.

Institutional Investors Weigh In On Motorsport Games

Several institutional investors and hedge funds have recently modified their holdings of the business. XTX Topco Ltd bought a new stake in Motorsport Games during the fourth quarter worth approximately $34,000. HRT Financial LP acquired a new stake in shares of Motorsport Games in the fourth quarter worth $37,000. State Street Corp bought a new stake in shares of Motorsport Games during the 4th quarter worth $39,000. Dimensional Fund Advisors LP bought a new stake in shares of Motorsport Games during the 3rd quarter worth $46,000. Finally, Heron Bay Capital Management acquired a new position in Motorsport Games in the 2nd quarter valued at $132,000. 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).