Insider Buying: Motorsport Games (NASDAQ:MSGM) Major Shareholder Buys $89,331.98 in Stock

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Red Oak Partners, Llc purchased 23,143 shares of the stock in a transaction dated Thursday, August 20th. The stock was bought at an average cost of $3.86 per share, with a total value of $89,331.98. Following the transaction, the insider owned 333,410 shares in the company, valued at $1,286,962.60. The trade was a 7.46% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Friday, August 21st, Red Oak Partners, Llc acquired 5,212 shares of Motorsport Games stock. The shares were purchased at an average cost of $3.67 per share, for a total transaction of $19,128.04.
• On Tuesday, August 18th, Red Oak Partners, Llc acquired 19,709 shares of Motorsport Games stock. The shares were purchased at an average price of $4.00 per share, with a total value of $78,836.00.
• On Monday, August 17th, Red Oak Partners, Llc bought 10,404 shares of Motorsport Games stock. The stock was purchased at an average cost of $3.87 per share, with a total value of $40,263.48.
• On Thursday, July 2nd, Red Oak Partners, Llc bought 12,737 shares of Motorsport Games stock. The stock was purchased at an average cost of $4.14 per share, with a total value of $52,731.18.
• On Wednesday, July 1st, Red Oak Partners, Llc bought 3,200 shares of Motorsport Games stock. The stock was purchased at an average price of $4.07 per share, for a total transaction of $13,024.00.
• On Tuesday, June 30th, Red Oak Partners, Llc purchased 27,744 shares of Motorsport Games stock. The shares were purchased at an average cost of $3.95 per share, with a total value of $109,588.80.

Motorsport Games Stock Up 2.5%

Shares of MSGM traded up $0.10 on Monday, hitting $4.05. 46,341 shares of the stock traded hands, compared to its average volume of 76,357. Motorsport Games Inc. has a one year low of $2.11 and a one year high of $5.56. The company has a market capitalization of $16.90 million, a PE ratio of 9.42, a P/E/G ratio of 0.53 and a beta of 1.71. The business has a 50 day simple moving average of $4.26 and a 200 day simple moving average of $4.15. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.85 and a current ratio of 1.85.

Motorsport Games (NASDAQ:MSGM) last released its quarterly earnings data on Friday, August 14th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.17. The business had revenue of $3.54 million for the quarter, compared to analysts’ expectations of $2.90 million. Motorsport Games had a return on equity of 41.13% and a net margin of 16.15%. As a group, equities analysts forecast that Motorsport Games Inc. will post 0.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on MSGM shares. Weiss Ratings upgraded shares of Motorsport Games from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, July 10th. Zacks Research raised shares of Motorsport Games to a “hold” rating in a research report on Wednesday, July 1st. Finally, Wall Street Zen lowered shares of Motorsport Games from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 7th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold”.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC increased its position 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 during the last quarter. XTX Topco Ltd bought a new position in shares of Motorsport Games in the 4th quarter worth approximately $34,000. State Street Corp bought a new position in shares of Motorsport Games in the 4th quarter worth approximately $39,000. HRT Financial LP purchased a new position in shares of Motorsport Games in the fourth quarter worth approximately $37,000. Finally, Dimensional Fund Advisors LP purchased a new position in shares of Motorsport Games in the third quarter worth approximately $46,000. 1.66% of the stock is owned by hedge funds and other institutional investors.

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).