Motorsport Games Inc. (NASDAQ:MSGM) Short Interest Update

Motorsport Games Inc. (NASDAQ:MSGM) was the target of a significant decline in short interest in March. As of March 13th, there was short interest totaling 21,749 shares, a decline of 36.9% from the February 26th total of 34,485 shares. Currently, 0.4% of the shares of the stock are short sold. Based on an average daily volume of 277,274 shares, the short-interest ratio is currently 0.1 days.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Motorsport Games in a report on Monday, December 29th. Wall Street Zen upgraded Motorsport Games from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 14th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Insider Activity at Motorsport Games

In related news, major shareholder Mike Zoi sold 31,131 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $4.51, for a total transaction of $140,400.81. Following the completion of the transaction, the insider owned 1,158,848 shares in the company, valued at $5,226,404.48. This represents a 2.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 321,537 shares of company stock worth $1,348,505 over the last three months. 4.58% of the stock is owned by insiders.

Hedge Funds Weigh In On Motorsport Games

A number of institutional investors have recently bought and sold shares of the company. State Street Corp purchased a new stake in shares of Motorsport Games in the 4th quarter valued at approximately $39,000. Dimensional Fund Advisors LP acquired a new stake in shares of Motorsport Games during the 3rd quarter worth approximately $46,000. HRT Financial LP purchased a new stake in shares of Motorsport Games during the 4th quarter valued at approximately $37,000. Finally, XTX Topco Ltd acquired a new position in Motorsport Games in the fourth quarter valued at approximately $34,000. 1.66% of the stock is owned by hedge funds and other institutional investors.

Motorsport Games Price Performance

Motorsport Games stock traded down $0.06 during trading on Friday, reaching $4.06. 15,558 shares of the company were exchanged, compared to its average volume of 174,861. The stock’s 50 day simple moving average is $3.87 and its two-hundred day simple moving average is $3.19. The company has a market capitalization of $23.47 million, a P/E ratio of 2.82 and a beta of 1.79. Motorsport Games has a 52-week low of $0.73 and a 52-week high of $5.41.

Motorsport Games (NASDAQ:MSGM) last issued its earnings results on Tuesday, March 10th. The company reported $0.15 earnings per share (EPS) for the quarter. Motorsport Games had a return on equity of 129.70% and a net margin of 61.31%.The company had revenue of $3.85 million during the quarter.

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).