Insider Buying: Motorsport Games (NASDAQ:MSGM) Major Shareholder Acquires 5,212 Shares of Stock

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Red Oak Partners, Llc acquired 5,212 shares of Motorsport Games stock in a transaction dated Friday, August 21st. The shares were purchased at an average price of $3.67 per share, for a total transaction of $19,128.04. Following the completion of the transaction, the insider directly owned 336,820 shares in the company, valued at approximately $1,236,129.40. The trade was a 1.57% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 Thursday, August 20th, Red Oak Partners, Llc bought 23,143 shares of Motorsport Games stock. The stock was purchased at an average price of $3.86 per share, with a total value of $89,331.98.
• On Tuesday, August 18th, Red Oak Partners, Llc bought 19,709 shares of Motorsport Games stock. The stock was purchased at an average cost of $4.00 per share, with a total value of $78,836.00.
• On Monday, August 17th, Red Oak Partners, Llc purchased 10,404 shares of Motorsport Games stock. The shares were acquired at an average price of $3.87 per share, for a total transaction of $40,263.48.
• 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, for a total transaction of $52,731.18.
• On Wednesday, July 1st, Red Oak Partners, Llc acquired 3,200 shares of Motorsport Games stock. The stock was acquired 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 acquired 27,744 shares of Motorsport Games stock. The stock was acquired at an average price of $3.95 per share, with a total value of $109,588.80.

Motorsport Games Trading Up 2.5%

Shares of Motorsport Games stock traded up $0.10 during trading on Monday, reaching $4.05. The company’s stock had a trading volume of 46,341 shares, compared to its average volume of 76,357. 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 52-week low of $2.11 and a 52-week high of $5.56. The firm’s 50-day moving average is $4.26 and its two-hundred day moving average is $4.15. The company has a market cap of $16.90 million, a price-to-earnings ratio of 9.42, a PEG ratio of 0.53 and a beta of 1.71.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Zacks Research upgraded Motorsport Games to a “hold” rating in a report on Wednesday, July 1st. Weiss Ratings upgraded Motorsport Games from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, July 10th. Finally, Wall Street Zen cut Motorsport Games from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 7th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. XTX Topco Ltd purchased a new stake in Motorsport Games in the 4th quarter worth approximately $34,000. HRT Financial LP bought a new stake in shares of Motorsport Games in the 4th quarter worth approximately $37,000. State Street Corp purchased a new position in shares of Motorsport Games during the fourth quarter valued at approximately $39,000. Dimensional Fund Advisors LP purchased a new position in shares of Motorsport Games during the third quarter valued at approximately $46,000. Finally, Renaissance Technologies LLC raised its holdings in shares of Motorsport Games by 43.8% during the first 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. 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).