Insider Selling: Motorsport Games (NASDAQ:MSGM) Major Shareholder Sells 9,362 Shares of Stock

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Mike Zoi sold 9,362 shares of Motorsport Games stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $3.58, for a total value of $33,515.96. Following the transaction, the insider owned 1,408,195 shares in the company, valued at approximately $5,041,338.10. This trade represents a 0.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Mike Zoi also recently made the following trade(s):

• On Friday, February 27th, Mike Zoi sold 9,603 shares of Motorsport Games stock. The shares were sold at an average price of $3.71, for a total value of $35,627.13.
• On Thursday, February 26th, Mike Zoi sold 5,059 shares of Motorsport Games stock. The shares were sold at an average price of $3.52, for a total value of $17,807.68.
• On Tuesday, February 24th, Mike Zoi sold 8,960 shares of Motorsport Games stock. The stock was sold at an average price of $3.62, for a total value of $32,435.20.
• On Monday, February 23rd, Mike Zoi sold 48,909 shares of Motorsport Games stock. The stock was sold at an average price of $3.59, for a total transaction of $175,583.31.
• On Friday, February 20th, Mike Zoi sold 4,959 shares of Motorsport Games stock. The shares were sold at an average price of $3.29, for a total transaction of $16,315.11.

Motorsport Games Price Performance

Shares of MSGM traded up $0.20 during mid-day trading on Friday, hitting $3.90. The company’s stock had a trading volume of 66,686 shares, compared to its average volume of 79,745. The firm has a 50-day moving average price of $3.45 and a 200 day moving average price of $3.01. The stock has a market capitalization of $22.54 million, a price-to-earnings ratio of 9.75 and a beta of 1.76. Motorsport Games Inc. has a fifty-two week low of $0.73 and a fifty-two week high of $5.41.

Hedge Funds Weigh In On Motorsport Games

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd acquired a new stake in Motorsport Games during the 4th quarter valued at $34,000. State Street Corp purchased a new position in shares of Motorsport Games during the fourth quarter valued at $39,000. HRT Financial LP purchased a new stake in Motorsport Games in the 4th quarter worth about $37,000. Dimensional Fund Advisors LP acquired a new stake in Motorsport Games during the 3rd quarter worth about $46,000. Finally, Heron Bay Capital Management acquired a new stake in Motorsport Games during the 2nd quarter worth about $132,000. 1.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on MSGM shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Motorsport Games in a report on Monday, December 29th. Wall Street Zen upgraded Motorsport Games to a “buy” rating in a report on Saturday, January 31st. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold”.

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).