Insider Buying: Motorsport Games (NASDAQ:MSGM) Major Shareholder Acquires $78,836.00 in Stock

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Red Oak Partners, Llc purchased 19,709 shares of Motorsport Games stock in a transaction on Tuesday, August 18th. The stock was acquired at an average cost of $4.00 per share, for a total transaction of $78,836.00. Following the acquisition, the insider directly owned 315,461 shares of the company’s stock, valued at approximately $1,261,844. This represents a 6.66% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Red Oak Partners, Llc also recently made the following trade(s):

• On Monday, August 17th, Red Oak Partners, Llc acquired 10,404 shares of Motorsport Games stock. The shares were acquired at an average cost of $3.87 per share, with a total value of $40,263.48.
• On Thursday, July 2nd, Red Oak Partners, Llc acquired 12,737 shares of Motorsport Games stock. The shares were bought 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 bought 3,200 shares of Motorsport Games stock. The stock was bought at an average cost of $4.07 per share, for a total transaction of $13,024.00.
• On Tuesday, June 30th, Red Oak Partners, Llc bought 27,744 shares of Motorsport Games stock. The shares were bought at an average price of $3.95 per share, for a total transaction of $109,588.80.

Motorsport Games Price Performance

Shares of NASDAQ:MSGM opened at $3.95 on Friday. 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 business’s fifty day moving average price is $4.26 and its two-hundred day moving average price is $4.15. The stock has a market cap of $16.47 million, a PE ratio of 9.19, a price-to-earnings-growth ratio of 0.51 and a beta of 1.71. Motorsport Games Inc. has a one year low of $2.11 and a one year high of $5.56.

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

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Wall Street Zen lowered shares of Motorsport Games from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 7th. Weiss Ratings upgraded shares of Motorsport Games from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, July 10th. Finally, Zacks Research raised shares of Motorsport Games to a “hold” rating in a research report on Wednesday, July 1st. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold”.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MSGM. Renaissance Technologies LLC lifted its holdings in shares of Motorsport Games by 43.8% during the 1st quarter. Renaissance Technologies LLC now owns 27,600 shares of the company’s stock worth $113,000 after acquiring an additional 8,400 shares during the period. XTX Topco Ltd purchased a new stake in Motorsport Games in the fourth quarter valued at approximately $34,000. State Street Corp purchased a new stake in Motorsport Games in the fourth quarter valued at approximately $39,000. HRT Financial LP acquired a new position in Motorsport Games during the fourth quarter worth approximately $37,000. Finally, Dimensional Fund Advisors LP acquired a new position in Motorsport Games during the third quarter worth approximately $46,000. 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).