Red Oak Partners, Llc Purchases 4,328 Shares of Motorsport Games (NASDAQ:MSGM) Stock

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Red Oak Partners, Llc purchased 4,328 shares of Motorsport Games stock in a transaction on Friday, August 28th. The shares were acquired at an average cost of $3.91 per share, for a total transaction of $16,922.48. Following the purchase, the insider owned 341,797 shares in the company, valued at approximately $1,336,426.27. This trade represents a 1.28% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 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 Monday, August 31st, Red Oak Partners, Llc acquired 4,554 shares of Motorsport Games stock. The shares were acquired at an average price of $3.93 per share, for a total transaction of $17,897.22.
• On Thursday, August 27th, Red Oak Partners, Llc acquired 3,280 shares of Motorsport Games stock. The stock was acquired at an average cost of $3.90 per share, with a total value of $12,792.00.
• On Friday, August 21st, Red Oak Partners, Llc bought 5,212 shares of Motorsport Games stock. The stock was acquired at an average price of $3.67 per share, with a total value of $19,128.04.
• On Thursday, August 20th, Red Oak Partners, Llc bought 23,143 shares of Motorsport Games stock. The shares were acquired at an average price of $3.86 per share, for a total transaction of $89,331.98.
• On Tuesday, August 18th, Red Oak Partners, Llc purchased 19,709 shares of Motorsport Games stock. The stock was acquired at an average cost of $4.00 per share, for a total transaction of $78,836.00.
• On Monday, August 17th, Red Oak Partners, Llc purchased 10,404 shares of Motorsport Games stock. The stock was acquired at an average price of $3.87 per share, with a total value of $40,263.48.
• On Thursday, July 2nd, Red Oak Partners, Llc purchased 12,737 shares of Motorsport Games stock. The stock was acquired at an average price of $4.14 per share, with a total value of $52,731.18.
• On Wednesday, July 1st, Red Oak Partners, Llc acquired 3,200 shares of Motorsport Games stock. The shares were bought at an average cost of $4.07 per share, with a total value of $13,024.00.
• On Tuesday, June 30th, Red Oak Partners, Llc acquired 27,744 shares of Motorsport Games stock. The shares were bought at an average price of $3.95 per share, for a total transaction of $109,588.80.

Motorsport Games Trading Down 0.3%

Shares of MSGM stock traded down $0.01 during trading hours on Monday, hitting $3.88. 19,548 shares of the company were exchanged, compared to its average volume of 74,791. The firm has a fifty day moving average of $4.27 and a 200 day moving average of $4.16. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.23. Motorsport Games Inc. has a 1 year low of $2.11 and a 1 year high of $5.56. The firm has a market cap of $16.18 million, a PE ratio of 9.02, a PEG ratio of 0.52 and a beta of 1.71.

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MSGM shares. Wall Street Zen downgraded Motorsport Games from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 7th. Weiss Ratings raised Motorsport Games from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, August 24th. Finally, Zacks Research upgraded Motorsport Games to a “hold” rating in a report on Wednesday, July 1st. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Hedge Funds Weigh In On Motorsport Games

A number of hedge funds have recently made changes to their positions in MSGM. 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 acquiring an additional 8,400 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Motorsport Games in the fourth quarter valued at about $34,000. HRT Financial LP purchased a new position in Motorsport Games in the 4th quarter worth approximately $37,000. State Street Corp acquired a new stake in Motorsport Games during the 4th quarter valued at $39,000. Finally, Dimensional Fund Advisors LP acquired a new position in shares of Motorsport Games in the third quarter worth about $46,000. Hedge funds and other institutional investors 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).