Insider Buying: Motorsport Games (NASDAQ:MSGM) Major Shareholder Purchases 12,737 Shares of Stock

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Red Oak Partners, Llc bought 12,737 shares of the company’s stock in a transaction on Thursday, July 2nd. The shares were acquired at an average price of $4.14 per share, with a total value of $52,731.18. Following the transaction, the insider directly owned 295,881 shares in the company, valued at approximately $1,224,947.34. The trade was a 4.50% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Major 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 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, with a total value of $13,024.00.
• On Tuesday, June 30th, Red Oak Partners, Llc purchased 27,744 shares of Motorsport Games stock. The stock was purchased at an average price of $3.95 per share, for a total transaction of $109,588.80.

Motorsport Games Stock Up 11.1%

Motorsport Games stock traded up $0.48 during midday trading on Monday, hitting $4.79. 79,216 shares of the stock were exchanged, compared to its average volume of 84,738. The stock has a market capitalization of $19.99 million, a PE ratio of 4.09, a P/E/G ratio of 0.75 and a beta of 1.70. The company has a fifty day simple moving average of $4.30 and a two-hundred day simple moving average of $3.92. Motorsport Games Inc. has a 52 week low of $2.11 and a 52 week high of $5.56.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MSGM shares. Wall Street Zen lowered shares of Motorsport Games from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 7th. Zacks Research raised Motorsport Games to a “hold” rating in a research note on Wednesday, July 1st. 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 investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Motorsport Games has a consensus rating of “Reduce”.

Institutional Trading of Motorsport Games

Several hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd acquired a new position in shares of Motorsport Games in the fourth quarter valued at approximately $34,000. HRT Financial LP bought a new stake in shares of Motorsport Games during the fourth quarter worth $37,000. State Street Corp acquired a new stake in shares of Motorsport Games during the fourth quarter worth $39,000. Dimensional Fund Advisors LP acquired a new stake in shares of Motorsport Games during the third quarter worth $46,000. Finally, Renaissance Technologies LLC lifted its position in Motorsport Games by 43.8% in 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. 1.66% of the stock is currently owned by institutional investors and hedge funds.

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).