Motorsport Games (NASDAQ:MSGM) Stock Rating Upgraded by Wall Street Zen

Motorsport Games (NASDAQ:MSGM) was upgraded by equities research analysts at Wall Street Zen to a “buy” rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other equities research analysts have also recently commented on MSGM. Zacks Research raised shares of Motorsport Games from a “hold” rating to a “strong-buy” rating in a report on Monday, August 31st. Weiss Ratings raised Motorsport Games from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, September 11th. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Motorsport Games presently has a consensus rating of “Buy”.

Motorsport Games Stock Performance

Shares of Motorsport Games stock opened at $4.28 on Friday. The firm’s fifty day simple moving average is $4.30 and its 200-day simple moving average is $4.26. The stock has a market capitalization of $17.85 million, a price-to-earnings ratio of 9.95, a PEG ratio of 0.57 and a beta of 1.71. Motorsport Games has a 12 month low of $2.11 and a 12 month high of $5.56. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.85 and a quick ratio of 1.85.

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

Insider Transactions at Motorsport Games

In other news, major shareholder Red Oak Partners, Llc acquired 27,744 shares of Motorsport Games stock in a transaction that occurred on Tuesday, June 30th. The stock was purchased at an average price of $3.95 per share, for a total transaction of $109,588.80. Following the completion of the transaction, the insider directly owned 285,611 shares in the company, valued at approximately $1,128,163.45. This trade represents a 10.76% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought 116,460 shares of company stock worth $459,004 over the last three months. Corporate insiders own 4.59% of the company’s stock.

Hedge Funds Weigh In On Motorsport Games

A hedge fund recently raised its position in Motorsport Games stock. Renaissance Technologies LLC lifted its holdings in shares of Motorsport Games Inc. (NASDAQ:MSGM) by 43.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,600 shares of the company’s stock after buying an additional 8,400 shares during the period. Renaissance Technologies LLC owned about 0.48% of Motorsport Games worth $113,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 1.66% of the company’s stock.

About Motorsport Games

Motorsport Games Inc is a video game developer and publisher focused on racing and motorsport entertainment. The company creates and distributes interactive experiences based on licensed racing series, teams and events, with products designed for console and personal computer platforms.

Its portfolio has included the NASCAR Heat franchise, NASCAR 21: Ignition and titles associated with the 24 Hours of Le Mans and other major racing championships. Motorsport Games also owns Studio 397, the developer of the rFactor 2 racing simulation platform, and has published Le Mans Ultimate, an officially licensed endurance-racing game.

The company distributes its games internationally through digital storefronts and other retail channels, serving players across North America, Europe and additional global markets.