Insider Selling: Motorsport Games (NASDAQ:MSGM) Major Shareholder Sells 9,603 Shares of Stock

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Mike Zoi sold 9,603 shares of the stock in a transaction on Friday, February 27th. The shares were sold at an average price of $3.71, for a total value of $35,627.13. Following the completion of the sale, the insider owned 1,394,974 shares of the company’s stock, valued at approximately $5,175,353.54. This represents a 0.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more 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 Thursday, February 26th, Mike Zoi sold 5,059 shares of Motorsport Games stock. The stock was sold at an average price of $3.52, for a total value of $17,807.68.
• On Wednesday, February 25th, Mike Zoi sold 9,362 shares of Motorsport Games stock. The stock was 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 shares were 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 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 value of $16,315.11.

Motorsport Games Price Performance

NASDAQ MSGM traded up $0.20 on Friday, reaching $3.90. The company had a trading volume of 66,686 shares, compared to its average volume of 79,745. Motorsport Games Inc. has a 1 year low of $0.73 and a 1 year high of $5.41. The firm has a 50-day moving average of $3.45 and a 200-day moving average of $3.01. The firm has a market capitalization of $22.54 million, a PE ratio of 9.75 and a beta of 1.76.

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

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

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).