Motorsport Games (NASDAQ:MSGM) Major Shareholder Sells $44,014.75 in Stock

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Mike Zoi sold 11,675 shares of Motorsport Games stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $3.77, for a total transaction of $44,014.75. Following the completion of the transaction, the insider owned 1,376,799 shares in the company, valued at approximately $5,190,532.23. This trade represents a 0.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major 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 Wednesday, March 4th, Mike Zoi sold 40,535 shares of Motorsport Games stock. The stock was sold at an average price of $4.03, for a total transaction of $163,356.05.
• On Monday, March 2nd, Mike Zoi sold 6,500 shares of Motorsport Games stock. The shares were sold at an average price of $3.74, for a total transaction of $24,310.00.
• On Friday, February 27th, Mike Zoi sold 9,603 shares of Motorsport Games stock. The stock was sold at an average price of $3.71, for a total transaction of $35,627.13.
• On Thursday, February 26th, Mike Zoi sold 5,059 shares of Motorsport Games stock. The shares were sold at an average price of $3.52, for a total transaction of $17,807.68.
• On Wednesday, February 25th, Mike Zoi sold 9,362 shares of Motorsport Games stock. The shares were sold at an average price of $3.58, for a total value of $33,515.96.
• 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 value of $32,435.20.
• On Monday, February 23rd, Mike Zoi sold 48,909 shares of Motorsport Games stock. The stock was 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 shares were sold at an average price of $3.29, for a total value of $16,315.11.

Motorsport Games Stock Up 6.3%

MSGM stock traded up $0.24 on Wednesday, reaching $4.05. 131,506 shares of the company’s stock were exchanged, compared to its average volume of 45,508. The stock has a fifty day moving average of $3.51 and a 200-day moving average of $3.03. The firm has a market cap of $23.41 million, a PE ratio of 10.13 and a beta of 1.79. Motorsport Games Inc. has a twelve month low of $0.73 and a twelve month high of $5.41.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Motorsport Games

Hedge funds have recently added to or reduced their stakes in the business. XTX Topco Ltd purchased a new stake in shares of Motorsport Games in the fourth quarter valued at about $34,000. State Street Corp acquired a new position in shares of Motorsport Games during the 4th quarter worth approximately $39,000. HRT Financial LP acquired a new position in shares of Motorsport Games during the 4th quarter worth approximately $37,000. Dimensional Fund Advisors LP purchased a new stake in Motorsport Games in the 3rd quarter valued at approximately $46,000. Finally, Heron Bay Capital Management acquired a new stake in Motorsport Games during the 2nd quarter valued at $132,000. 1.66% of the stock is currently owned by hedge funds and other institutional investors.

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).