Motorsport Games Inc. (NASDAQ:MSGM) Short Interest Down 36.9% in March

Motorsport Games Inc. (NASDAQ:MSGM) saw a significant decline in short interest in March. As of March 13th, there was short interest totaling 21,749 shares, a decline of 36.9% from the February 26th total of 34,485 shares. Currently, 0.4% of the company’s stock are short sold. Based on an average daily volume of 277,274 shares, the short-interest ratio is presently 0.1 days.

Motorsport Games Price Performance

MSGM stock opened at $4.12 on Friday. Motorsport Games has a fifty-two week low of $0.73 and a fifty-two week high of $5.41. The stock has a market capitalization of $23.81 million, a price-to-earnings ratio of 2.86 and a beta of 1.79. The business’s fifty day moving average price is $3.86 and its two-hundred day moving average price is $3.18.

Motorsport Games (NASDAQ:MSGM) last issued its quarterly earnings data on Tuesday, March 10th. The company reported $0.15 earnings per share for the quarter. The business had revenue of $3.85 million during the quarter. Motorsport Games had a net margin of 61.31% and a return on equity of 129.70%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MSGM shares. Weiss Ratings restated a “hold (c-)” rating on shares of Motorsport Games in a report on Monday, December 29th. Wall Street Zen raised Motorsport Games from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 14th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Insider Buying and Selling at Motorsport Games

In other news, major shareholder Mike Zoi sold 90,900 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $4.49, for a total transaction of $408,141.00. Following the completion of the transaction, the insider directly owned 1,245,364 shares of the company’s stock, valued at $5,591,684.36. This trade represents a 6.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 321,537 shares of company stock worth $1,348,505 over the last ninety days. 4.58% of the stock is owned by corporate insiders.

Institutional Trading of Motorsport Games

Several institutional investors and hedge funds have recently modified their holdings of the business. XTX Topco Ltd bought a new position in shares of Motorsport Games in the fourth quarter worth about $34,000. HRT Financial LP acquired a new position in Motorsport Games in the 4th quarter worth about $37,000. State Street Corp acquired a new position in Motorsport Games in the 4th quarter worth about $39,000. Finally, Dimensional Fund Advisors LP bought a new position in Motorsport Games in the third quarter valued at about $46,000. 1.66% of the stock is currently owned by institutional investors.

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).