Mike Zoi Sells 5,059 Shares of Motorsport Games (NASDAQ:MSGM) Stock

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Mike Zoi sold 5,059 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $3.52, for a total value of $17,807.68. Following the transaction, the insider directly owned 1,403,136 shares in the company, valued at approximately $4,939,038.72. This represents a 0.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 Friday, February 27th, Mike Zoi sold 9,603 shares of Motorsport Games stock. The shares were sold at an average price of $3.71, for a total transaction of $35,627.13.
• 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 transaction 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 transaction 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 transaction 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 Up 5.4%

Motorsport Games stock opened at $3.90 on Friday. The firm has a fifty day simple moving average of $3.47 and a two-hundred day simple moving average of $3.02. Motorsport Games Inc. has a twelve month low of $0.73 and a twelve month high of $5.41. The company has a market capitalization of $22.54 million, a PE ratio of 9.75 and a beta of 1.76.

Institutional Investors Weigh In On Motorsport Games

Several institutional investors and hedge funds have recently bought and sold shares of the business. XTX Topco Ltd purchased a new position in shares of Motorsport Games during the fourth quarter valued at approximately $34,000. State Street Corp purchased a new stake in Motorsport Games in the fourth quarter worth $39,000. HRT Financial LP bought a new stake in Motorsport Games in the fourth quarter valued at $37,000. Dimensional Fund Advisors LP purchased a new position in Motorsport Games during the 3rd quarter valued at $46,000. Finally, Heron Bay Capital Management purchased a new position in Motorsport Games during the 2nd quarter valued at $132,000. Hedge funds and other institutional investors own 1.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MSGM. Wall Street Zen upgraded Motorsport Games to a “buy” rating in a research report on Saturday, January 31st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Motorsport Games in a research note on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold”.

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).