Motorsport Games (NASDAQ:MSGM) Major Shareholder Buys $17,897.22 in Stock

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Red Oak Partners, Llc bought 4,554 shares of Motorsport Games stock in a transaction dated Monday, August 31st. The stock was acquired at an average price of $3.93 per share, with a total value of $17,897.22. Following the purchase, the insider directly owned 344,776 shares of the company’s stock, valued at approximately $1,354,969.68. This represents a 1.34% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Friday, August 28th, Red Oak Partners, Llc purchased 4,328 shares of Motorsport Games stock. The stock was acquired at an average cost of $3.91 per share, for a total transaction of $16,922.48.
• On Thursday, August 27th, Red Oak Partners, Llc purchased 3,280 shares of Motorsport Games stock. The shares were acquired at an average price of $3.90 per share, for a total transaction of $12,792.00.
• On Friday, August 21st, Red Oak Partners, Llc purchased 5,212 shares of Motorsport Games stock. The shares were acquired at an average price of $3.67 per share, for a total transaction of $19,128.04.
• On Thursday, August 20th, Red Oak Partners, Llc acquired 23,143 shares of Motorsport Games stock. The stock was acquired at an average cost of $3.86 per share, with a total value of $89,331.98.
• On Tuesday, August 18th, Red Oak Partners, Llc acquired 19,709 shares of Motorsport Games stock. The stock was acquired 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 shares were acquired at an average cost of $3.87 per share, for a total transaction of $40,263.48.
• On Thursday, July 2nd, Red Oak Partners, Llc bought 12,737 shares of Motorsport Games stock. The shares were acquired at an average cost of $4.14 per share, for a total transaction of $52,731.18.
• On Wednesday, July 1st, Red Oak Partners, Llc bought 3,200 shares of Motorsport Games stock. The shares were bought 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 stock was bought at an average cost of $3.95 per share, with a total value of $109,588.80.

Motorsport Games Price Performance

Shares of NASDAQ MSGM opened at $4.08 on Thursday. 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 Inc. has a fifty-two week low of $2.11 and a fifty-two week high of $5.56. The stock has a market cap of $17.01 million, a PE ratio of 9.49, a price-to-earnings-growth ratio of 0.52 and a beta of 1.71. The stock has a fifty day moving average of $4.27 and a 200-day moving average of $4.18.

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

Hedge Funds Weigh In On Motorsport Games

A number of large investors have recently modified their holdings of the company. XTX Topco Ltd bought a new stake in Motorsport Games in the fourth quarter valued at approximately $34,000. HRT Financial LP bought a new stake in Motorsport Games in the fourth quarter valued at $37,000. State Street Corp purchased a new position in Motorsport Games during the 4th quarter valued at $39,000. Dimensional Fund Advisors LP purchased a new position in Motorsport Games during the 3rd quarter valued at $46,000. Finally, Renaissance Technologies LLC raised its holdings in Motorsport Games by 43.8% in the 1st quarter. Renaissance Technologies LLC now owns 27,600 shares of the company’s stock worth $113,000 after purchasing an additional 8,400 shares in the last quarter. 1.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MSGM shares. Weiss Ratings upgraded shares of Motorsport Games from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 24th. Zacks Research raised shares of Motorsport Games from a “hold” rating to a “strong-buy” rating in a report on Monday. Finally, Wall Street Zen lowered shares of Motorsport Games from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 7th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy”.

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).