Insider Buying: Motorsport Games (NASDAQ:MSGM) Major Shareholder Buys $40,263.48 in Stock

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Red Oak Partners, Llc bought 10,404 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were acquired at an average price of $3.87 per share, for a total transaction of $40,263.48. Following the completion of the purchase, the insider owned 302,646 shares in the company, valued at $1,171,240.02. The trade was a 3.56% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 Tuesday, August 18th, Red Oak Partners, Llc bought 19,709 shares of Motorsport Games stock. The shares were acquired at an average cost of $4.00 per share, for a total transaction of $78,836.00.
• On Thursday, July 2nd, Red Oak Partners, Llc purchased 12,737 shares of Motorsport Games stock. The stock was acquired at an average price of $4.14 per share, with a total value of $52,731.18.
• On Wednesday, July 1st, Red Oak Partners, Llc purchased 3,200 shares of Motorsport Games stock. The stock was acquired at an average cost 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 acquired at an average cost of $3.95 per share, with a total value of $109,588.80.

Motorsport Games Price Performance

Shares of MSGM stock opened at $3.95 on Friday. Motorsport Games Inc. has a fifty-two week low of $2.11 and a fifty-two week high of $5.56. The firm has a market capitalization of $16.47 million, a price-to-earnings ratio of 9.19, a PEG ratio of 0.51 and a beta of 1.71. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.32 and a current ratio of 1.85. The stock’s 50-day simple moving average is $4.26 and its 200-day simple moving average is $4.15.

Motorsport Games (NASDAQ:MSGM) last announced its quarterly earnings data on Friday, August 14th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.02 by $0.17. The firm had revenue of $3.54 million during the quarter, compared to analyst estimates of $2.90 million. Motorsport Games had a net margin of 16.15% and a return on equity of 41.13%. As a group, equities analysts forecast that Motorsport Games Inc. will post 0.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Motorsport Games

A number of institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP acquired a new stake in Motorsport Games during the 3rd quarter valued at approximately $46,000. State Street Corp purchased a new stake in shares of Motorsport Games in the 4th quarter valued at $39,000. HRT Financial LP acquired a new stake in shares of Motorsport Games in the fourth quarter worth $37,000. XTX Topco Ltd acquired a new stake in shares of Motorsport Games in the fourth quarter worth $34,000. 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 worth $113,000 after purchasing an additional 8,400 shares during the last quarter. 1.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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).