Motorsport Games (NASDAQ:MSGM) Major Shareholder Mike Zoi Sells 8,960 Shares

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Mike Zoi sold 8,960 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $3.62, for a total transaction of $32,435.20. Following the sale, the insider directly owned 1,417,557 shares in the company, valued at $5,131,556.34. This represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• On Monday, February 23rd, Mike Zoi sold 48,909 shares of Motorsport Games stock. The shares were sold at an average price of $3.59, for a total value of $175,583.31.
• On Friday, February 20th, Mike Zoi sold 4,959 shares of Motorsport Games stock. The stock was sold at an average price of $3.29, for a total transaction of $16,315.11.

Motorsport Games Stock Performance

Shares of MSGM traded down $0.14 during trading hours on Thursday, hitting $3.51. The stock had a trading volume of 53,602 shares, compared to its average volume of 79,257. Motorsport Games Inc. has a 12-month low of $0.73 and a 12-month high of $5.41. The firm has a market cap of $20.26 million, a P/E ratio of 8.76 and a beta of 1.76. The company’s fifty day simple moving average is $3.44 and its 200 day simple moving average is $3.01.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Motorsport Games

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

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).