Motorsport Games (NASDAQ:MSGM) Major Shareholder Red Oak Partners, Llc Buys 3,200 Shares

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Red Oak Partners, Llc bought 3,200 shares of Motorsport Games stock in a transaction dated Wednesday, July 1st. The stock was acquired at an average cost of $4.07 per share, for a total transaction of $13,024.00. Following the purchase, the insider directly owned 287,673 shares in the company, valued at approximately $1,170,829.11. The trade was a 1.12% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Red Oak Partners, Llc also recently made the following trade(s):

• On Thursday, July 2nd, Red Oak Partners, Llc purchased 12,737 shares of Motorsport Games stock. The shares were acquired at an average cost of $4.14 per share, with a total value of $52,731.18.
• On Tuesday, June 30th, Red Oak Partners, Llc acquired 27,744 shares of Motorsport Games stock. The stock was acquired at an average price of $3.95 per share, for a total transaction of $109,588.80.

Motorsport Games Stock Up 0.1%

MSGM stock traded up $0.01 during midday trading on Tuesday, reaching $4.79. The company’s stock had a trading volume of 42,471 shares, compared to its average volume of 84,129. The business’s 50-day simple moving average is $4.32 and its 200-day simple moving average is $3.93. Motorsport Games Inc. has a 52 week low of $2.11 and a 52 week high of $5.56. The stock has a market cap of $20.00 million, a PE ratio of 4.17, a price-to-earnings-growth ratio of 0.75 and a beta of 1.70.

Institutional Trading of Motorsport Games

A number of large investors have recently made changes to their positions in MSGM. State Street Corp acquired a new stake in Motorsport Games during the 4th quarter worth $39,000. HRT Financial LP bought a new stake in shares of Motorsport Games in the fourth quarter worth about $37,000. Dimensional Fund Advisors LP acquired a new stake in shares of Motorsport Games during the third quarter worth about $46,000. XTX Topco Ltd acquired a new stake in shares of Motorsport Games during the fourth quarter worth about $34,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Motorsport Games by 43.8% during the 1st quarter. Renaissance Technologies LLC now owns 27,600 shares of the company’s stock valued at $113,000 after purchasing an additional 8,400 shares in the last quarter. Institutional investors own 1.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MSGM shares. Zacks Research raised Motorsport Games to a “hold” rating in a research note on Wednesday, July 1st. Wall Street Zen lowered Motorsport Games from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 7th. Finally, Weiss Ratings cut Motorsport Games from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, June 25th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce”.

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).