Insider Selling: Motorsport Games (NASDAQ:MSGM) Major Shareholder Sells 48,909 Shares of Stock

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Mike Zoi sold 48,909 shares of the firm’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $3.59, for a total value of $175,583.31. Following the completion of the sale, the insider directly owned 1,426,517 shares in the company, valued at approximately $5,121,196.03. The trade was a 3.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• 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 transaction of $32,435.20.
• 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 value of $16,315.11.

Motorsport Games Trading Up 4.7%

MSGM opened at $3.68 on Wednesday. The stock has a market capitalization of $21.24 million, a P/E ratio of 9.19 and a beta of 1.76. The stock has a 50-day moving average price of $3.43 and a 200-day moving average price of $3.01. Motorsport Games Inc. has a 12-month low of $0.73 and a 12-month high of $5.41.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MSGM. Wall Street Zen raised shares of Motorsport Games to a “buy” rating in a research note on Saturday, January 31st. Weiss Ratings restated a “hold (c-)” rating on shares of Motorsport Games in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MSGM. XTX Topco Ltd purchased a new position in Motorsport Games during the fourth quarter valued at $34,000. HRT Financial LP purchased a new stake in Motorsport Games during the 4th quarter valued at $37,000. State Street Corp purchased a new stake in Motorsport Games during the 4th quarter valued at $39,000. Dimensional Fund Advisors LP bought a new stake in shares of Motorsport Games in the 3rd quarter worth $46,000. Finally, Heron Bay Capital Management purchased a new position in shares of Motorsport Games in the second quarter worth $132,000. Hedge funds and other institutional investors own 1.66% of the company’s stock.

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).